Restaurant Building with Pylon
For Sale
$1,080,000
380 E Division St NE, Rockford, MI 49341
Commercial building along Division Street with dedicated parking and prominent roadside signage.
Property Size4,319 SF
Price / SF$250.06
Days on Market327
Property Features for 380 E Division St NE
General Information
Standard status
Active
Size
4,319 SF
Total Parking Spaces
38
Property subtype
Investment
Zoning
SD-PRD
Additional Details
Pylon Signage
Yes
Listing Agency:
Ben M. Muller Realty Co., Inc.
(616) 456-7114
Listed By:
Mark Muller
(616) 456-7114
Source:
Carwm.resimplifi
Added: Oct 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:38PM
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 Ben M. Muller Realty Co., Inc.
Investment Insights
Based on property information with market context.
This restaurant property is a commercial building positioned along Division Street in Rockford, Michigan. The site includes 38 parking spaces and high-visibility pylon signage, providing identifiable roadside exposure for the business operating from the building.
Located at 380 E Division St NE, the property is situated within Rockford’s retail market. Its existing commercial configuration and parking supply support consideration by an owner-occupant or investor seeking a restaurant asset with an established street presence.
Located at 380 E Division St NE, the property is situated within Rockford’s retail market. Its existing commercial configuration and parking supply support consideration by an owner-occupant or investor seeking a restaurant asset with an established street presence.
Key Highlights
- 38 parking spaces
- High‑visibility pylon signage
- Exposure along Division Street
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
$48,038
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
4.45%
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%
$960,760
$960.8K
Cap Rate 7%
$686,257
$686.3K
Cap Rate 9%
$533,756
$533.8K
Market Conditions
NOI Build-Up for 4,319 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
$66.9K $15.48/SF
− Vacancy
−$2.8K −$0.65/SF
EGI
$64.1K $14.83/SF
− OpEx
−$16.0K −$3.71/SF
NOI
$48.0K $11.12/SF
Area
Kent County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$960,760
Cap Rate 7%
$686,257
Cap Rate 9%
$533,756
Alternative Uses
Best Use
Specialty Retail
$686.3K
$600.5K – $800.6K
NOI $48,038 @ 7.0% cap · market cap 4.45%
Second Best
Retail
$640.5K
$560.4K – $747.3K
NOI $44,835 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$772.5K
$675.9K – $901.2K
NOI $54,074 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
94k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 34%
Groceries 28%
Beauty & Spa 1%
Family Fare
Groceries
26,831 visits/mo
0.2 miles
McDonald's
Dining
25,625 visits/mo
0.1 miles
Citgo
Shops & Services
12,456 visits/mo
0.0 miles
Dollar General
Shops & Services
7,764 visits/mo
0.0 miles
Pet Supplies Plus
Shops & Services
3,975 visits/mo
0.2 miles
Demographics for 49341, MI
38,250
Population
15,070
Households
2.5
Avg Household Size
39
Median Age
49%
College-Educated
97%
High-School Grad
84.5 sq mi
ZIP Area
453
Density / Sq Mi
$112,932
Median Household Income
$57,775
Median Earnings
$1,251
Median Rent
$347,700
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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial building along Division Street with dedicated parking and prominent roadside signage.
Where is this conventional restaurant located?
The property is located at 380 E Division St NE Rockford, MI.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: 38 parking spaces; High‑visibility pylon signage; Exposure along Division Street
