Freestanding Bar &
For Sale
$1,495,000
34540 Harper Ave, Clinton Township, MI 48035
Corner-site property with pylon signage and B-3 and R-5 zoning.
Property Size3,200 SF
Lot Size1.46 Acres
Price / SF$467.19
Days on Market10
Property Features for 34540 Harper Ave
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
100
Lot size
1.46 Acres
Property subtype
Retail
Zoning
B-3, R-5
Site & Location
Pylon Signage
Yes
Highway Access
Yes
Building Details
Building Size
3,200 SF
Year Built
1973
Buildings
1
Stories
1
Listing Agency:
Signature Associates - Southfield
(248) 359-3837
Listed By:
Peter Vanderkaay · License #6501388318
(248) 359-3837
Source:
Cpix.resimplifi
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 21 at 5:23AM
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 Signature Associates - Southfield
Investment Insights
Based on property information with market context.
This freestanding bar and pub property includes a 3,200-square-foot building constructed in 1973 on 1.46 acres. The site provides 100 parking spaces and pylon signage, with the building and grounds configured for restaurant and bar operations. The property is being offered with existing equipment and is described as ready for occupancy.
Located at 34540 Harper Ave in Clinton Township, the property sits near I-94, Harper Avenue, and 15 Mile Road within a retail corridor in Macomb County. The site carries B-3 and R-5 zoning and is positioned on a prominent corner with visibility along Harper Avenue. The source information also identifies flexibility for alternative retail or service uses and potential commercial redevelopment.
Located at 34540 Harper Ave in Clinton Township, the property sits near I-94, Harper Avenue, and 15 Mile Road within a retail corridor in Macomb County. The site carries B-3 and R-5 zoning and is positioned on a prominent corner with visibility along Harper Avenue. The source information also identifies flexibility for alternative retail or service uses and potential commercial redevelopment.
Key Highlights
- 3,200‑square‑foot freestanding building constructed in 1973
- 1.46‑acre site with 100 parking spaces
- B‑3 and R‑5 zoning designations
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
$41,936
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
2.81%
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%
$838,720
$838.7K
Cap Rate 7%
$599,086
$599.1K
Cap Rate 9%
$465,956
$466.0K
Market Conditions
NOI Build-Up for 3,200 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
$63.4K $19.80/SF
− Vacancy
−$7.4K −$2.33/SF
EGI
$55.9K $17.47/SF
− OpEx
−$14.0K −$4.37/SF
NOI
$41.9K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$838,720
Cap Rate 7%
$599,086
Cap Rate 9%
$465,956
Alternative Uses
Best Use
Specialty Retail
$599.1K
$524.2K – $698.9K
NOI $41,936 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
79k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
McDonald's
Dining
17,496 visits/mo
0.3 miles
Shell
Shops & Services
16,974 visits/mo
0.1 miles
Tim Hortons
Dining
11,127 visits/mo
0.4 miles
Family Dollar
Shops & Services
10,932 visits/mo
0.4 miles
Checkers
Dining
6,782 visits/mo
0.4 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Moon Lite Party Store — 33452 Harper Ave, Clinton Twp, MI 48035
- Ireland's Pub — 33401 Harper Ave, Clinton Twp, MI 48035
- Winners Bar & Grill — 34540 Harper Ave, Clinton Twp, MI 48035
- The Jacob Household — 24457 kolleen ln, clinton twp, mi 48035
Frequently Asked Questions
What type of property is this?
Bar & Pub - Corner-site property with pylon signage and B-3 and R-5 zoning.
Where is this bar & pub located?
The property is located at 34540 Harper Ave Clinton Township, MI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 3,200‑square‑foot freestanding building constructed in 1973; 1.46‑acre site with 100 parking spaces; B‑3 and R‑5 zoning designations
