Liquor Store Business with Beer
New
For Sale
$579,900
39029 Moravian, Clinton Township, MI 48036
The operation includes a walk-in cooler, beer cave, cigar humidor, and lease term extending through June 2028.
Property Size1,950 SF
Price / SF$297.38
Days on Market3
Property Features for 39029 Moravian
General Information
Standard status
Active
Size
1,950 SF
Additional Details
Business Included
Yes
Building Details
Year Built
19
Listing Agency:
Hanging Gardens Real Estate LLC
(810) 434-5559
Listed By:
Sal Dado · License #6501296234
Source:
Sellinghomesinmichigan
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 6:40PM
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 Hanging Gardens Real Estate LLC
Investment Insights
Based on property information with market context.
This business-only offering is a liquor store operation occupying approximately 1,950 SF at 39029 Moravian in Clinton Township, Michigan. The premises include a walk-in beer cooler with an added beer cave, along with a cigar humidor. The building itself is not part of the offering.
The current lease runs through June 2028, providing a defined occupancy term for the business. Inventory is available separately from the business transaction. The offering is focused on the operating store and its installed retail features rather than the underlying real estate.
The current lease runs through June 2028, providing a defined occupancy term for the business. Inventory is available separately from the business transaction. The offering is focused on the operating store and its installed retail features rather than the underlying real estate.
Key Highlights
- Business‑only liquor store operation; building is not included
- Approximately 1,950 SF of operating space
- Walk‑in beer cooler with added beer cave
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
$25,555
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
4.41%
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%
$511,100
$511.1K
Cap Rate 7%
$365,071
$365.1K
Cap Rate 9%
$283,944
$283.9K
Market Conditions
NOI Build-Up for 1,950 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
$38.6K $19.80/SF
− Vacancy
−$4.5K −$2.33/SF
EGI
$34.1K $17.47/SF
− OpEx
−$8.5K −$4.37/SF
NOI
$25.6K $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%
$511,100
Cap Rate 7%
$365,071
Cap Rate 9%
$283,944
Alternative Uses
Best Use
Specialty Retail
$365.1K
$319.4K – $425.9K
NOI $25,555 @ 7.0% cap · market cap 4.41%
Second Best
Retail
$205.9K
$180.2K – $240.2K
NOI $14,414 @ 7.0% cap · market cap 2.49%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
2k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Comerica Bank
Shops & Services
2,137 visits/mo
0.4 miles
Demographics for 48036, MI
22,517
Population
9,855
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,713
Density / Sq Mi
$65,109
Median Household Income
$36,730
Median Earnings
$1,018
Median Rent
$201,000
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?
Grocery and convenience store - The operation includes a walk-in cooler, beer cave, cigar humidor, and lease term extending through June 2028.
Where is this grocery and convenience store located?
The property is located at 39029 Moravian Clinton Township, MI.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Business‑only liquor store operation; building is not included; Approximately 1,950 SF of operating space; Walk‑in beer cooler with added beer cave
