Former Drive-Through
For Sale
Contact for pricing
35134 Groesbeck Hwy, Clinton Township, MI 48035
Vacant QSR improvements include a drive-thru lane, pylon signage, and a large parking lot.
Property Size2,918 SF
Price / SF$411.24
Days on Market8
Property Features for 35134 Groesbeck Hwy
General Information
Standard status
Active
Size
2,918 SF
Total Parking Spaces
40
Property subtype
Retail
Zoning
General Business (B-3)
Site & Location
Drive-Thru
Yes
Pylon Signage
Yes
Traffic Count
28,300 vehicles/day
Road Access
Yes
Building Details
Year Built
1999
Buildings
1
Listing Agency:
SRS Real Estate Partners New York
(973) 632-1386
Listed By:
Nick Santagata · License #10401382020
Source:
Crexi
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 5:31AM
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 SRS Real Estate Partners New York
Investment Insights
Based on property information with market context.
This vacant former quick service restaurant includes an existing drive-thru lane, pylon signage, and a large parking lot. Built in 1999, the property is zoned General Business (B-3), with existing restaurant improvements suited to re-occupancy or repositioning within the same commercial category.
The site fronts Groesbeck Highway in Clinton Township, immediately north of the signalized Groesbeck Highway and 15 Mile Road intersection. Groesbeck Highway carries approximately 28,300 vehicles per day, while the nearby intersection reports 24,300 VPD. The property is situated among McDonald's, Wendy's, Burger King, KFC, and Taco Bell, with Walgreens, Harbor Freight, Dollar General, and Clinton Pointe nearby. The 5-mile trade area includes 281,731 residents and 83,952 employees, with an average household income of $94,152.
The site fronts Groesbeck Highway in Clinton Township, immediately north of the signalized Groesbeck Highway and 15 Mile Road intersection. Groesbeck Highway carries approximately 28,300 vehicles per day, while the nearby intersection reports 24,300 VPD. The property is situated among McDonald's, Wendy's, Burger King, KFC, and Taco Bell, with Walgreens, Harbor Freight, Dollar General, and Clinton Pointe nearby. The 5-mile trade area includes 281,731 residents and 83,952 employees, with an average household income of $94,152.
Key Highlights
- Existing drive‑thru lane, pylon signage, and large parking lot
- General Business (B‑3) zoning
- Frontage along Groesbeck Highway in Clinton Township
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
$38,241
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
3.19%
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%
$764,820
$764.8K
Cap Rate 7%
$546,300
$546.3K
Cap Rate 9%
$424,900
$424.9K
Market Conditions
NOI Build-Up for 2,918 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
$57.8K $19.80/SF
− Vacancy
−$6.8K −$2.33/SF
EGI
$51.0K $17.47/SF
− OpEx
−$12.7K −$4.37/SF
NOI
$38.2K $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%
$764,820
Cap Rate 7%
$546,300
Cap Rate 9%
$424,900
Alternative Uses
Best Use
Specialty Retail
$546.3K
$478.0K – $637.4K
NOI $38,241 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$308.1K
$269.6K – $359.5K
NOI $21,570 @ 7.0% cap · market cap 1.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28,300 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
113k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 30%
Home Improvements & Furnishings 10%
McDonald's
Dining
22,510 visits/mo
0.2 miles
Wendy's
Dining
12,116 visits/mo
0.1 miles
Harbor Freight Tools
Home Improvements & Furnishings
11,232 visits/mo
0.0 miles
Taco Bell
Dining
10,061 visits/mo
0.3 miles
Speedway
Shops & Services
9,780 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
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Vacant QSR improvements include a drive-thru lane, pylon signage, and a large parking lot.
Where is this drive through restaurant located?
The property is located at 35134 Groesbeck Hwy Clinton Township, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Existing drive‑thru lane, pylon signage, and large parking lot; General Business (B‑3) zoning; Frontage along Groesbeck Highway in Clinton Township
