Two-Story Church
For Sale
$2,145,000
34375 S Gratiot Avenue, Clinton Township, MI 48035
Flexible interior includes multiple rooms, commercial kitchen features, a generator, and on-site parking.
Property Size33,000 SF
Days on Market62
Property Features for 34375 S Gratiot Avenue
General Information
Standard status
Active
Size
33,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$39,163
Building Details
Building Size
33,000 SF
Year Built
2010
Buildings
1
Stories
2
Listing Agency:
Pilot Property Group - Residential LLC
(586) 291-0499
Listed By:
Alexander Termini · License #6501392648
(586) 291-0499
Source:
Carolbollo
Added: Jun 11
Changed: Aug 10
Last Checked: Aug 10 at 7:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pilot Property Group - Residential LLC
Investment Insights
Based on property information with market context.
Constructed in 2010, this two-story church facility at 34375 S Gratiot Avenue includes rooms in multiple sizes for varied interior layouts. The property also features a kitchen area equipped with a hood vent and walk-in cooler, along with its own generator.
On-site parking is available at the Clinton Charter Township property. The combination of multi-room configuration, kitchen infrastructure, backup power equipment, and parking creates a substantial existing facility for religious or related institutional use.
On-site parking is available at the Clinton Charter Township property. The combination of multi-room configuration, kitchen infrastructure, backup power equipment, and parking creates a substantial existing facility for religious or related institutional use.
Key Highlights
- Two‑story building completed in 2010
- Kitchen area with hood vent and walk‑in cooler
- Multiple rooms in different sizes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$177,940
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,558,800
$3.6M
Cap Rate 7%
$2,542,000
$2.5M
Cap Rate 9%
$1,977,111
$2.0M
Market Conditions
NOI Build-Up for 33,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$269.3K $8.16/SF
− Vacancy
−$15.1K −$0.46/SF
EGI
$254.2K $7.70/SF
− OpEx
−$76.3K −$2.31/SF
NOI
$177.9K $5.39/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,558,800
Cap Rate 7%
$2,542,000
Cap Rate 9%
$1,977,111
Alternative Uses
Best Use
Specialty Retail
$6.18M
$5.41M – $7.21M
NOI $432,469 @ 7.0% cap · market cap 20.16%
Second Best
Industrial
$2.54M
$2.22M – $2.97M
NOI $177,940 @ 7.0% cap · market cap 8.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
288k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 48%
Apparel 19%
Groceries 16%
Shops & Services 13%
Target
Superstores
138,272 visits/mo
0.2 miles
T.J. Maxx
Apparel
44,160 visits/mo
0.2 miles
Aldi
Groceries
27,114 visits/mo
0.3 miles
Dollar Tree
Shops & Services
21,199 visits/mo
0.3 miles
Gordon Food Service
Groceries
20,059 visits/mo
0.2 miles
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Flexible interior includes multiple rooms, commercial kitchen features, a generator, and on-site parking.
Where is this church & religious facility located?
The property is located at 34375 S Gratiot Avenue Clinton Township, MI.
What is the asking price?
The asking price for this property is $2,145,000.
What are key features of this property?
This property features: Two‑story building completed in 2010; Kitchen area with hood vent and walk‑in cooler; Multiple rooms in different sizes
