Restaurant-Ready Retail
For Sale
$275,000
3909 S Van Dyke Road, Marlette, MI 48453
Well-maintained building with a commercial kitchen, central air, parking, and handicap-accessible entry on a 3+ acre lot.
Property Size2,300 SF
Lot Size3.00 Acres
Price / SF$119.57
Days on Market63
Property Features for 3909 S Van Dyke Road
General Information
Standard status
Active
Size
2,300 SF
Lot size
3.00 Acres
Property subtype
Commercial
Zoning
Commercial
Lease Term
Cash, Conventional
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,132
Amenities
commercial kitchen
handicap-accessible restrooms
handicap-accessible entry ramp
newer windows
expanded crushed asphalt parking lot
new front entry door
natural gas service
central air conditioning
front lighted sign
rear entry with ramp access
Building Details
Building Size
2,300 SF
Year Built
2000
Stories
1
Listing Agency:
Realty Executives Main St LLC
(810) 728-6417
Listed By:
Brandon K Rowley · License #6501397411
(810) 728-6417
Source:
Sabudarealty
Added: Jun 8
Changed: Aug 8
Last Checked: Aug 9 at 12:51PM
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 Realty Executives Main St LLC
Investment Insights
Based on property information with market context.
This well-maintained commercial building is set on a spacious 3+ acre lot with strong frontage along M-53. The property includes a large open main room, a commercial kitchen, two handicap-accessible restrooms, and a handicap-accessible entry ramp with a rear entry. Updates include newer windows and a new front entry door, along with an expanded crushed asphalt parking lot.
The building is positioned with a front lighted sign near M-53 and includes natural gas service and central air conditioning throughout. The site also offers convenient parking improvements to support day-to-day operations.
With its open layout and built-in commercial kitchen, the property is well suited for a variety of foodservice and retail-oriented uses that require functional back-of-house support.
The building is positioned with a front lighted sign near M-53 and includes natural gas service and central air conditioning throughout. The site also offers convenient parking improvements to support day-to-day operations.
With its open layout and built-in commercial kitchen, the property is well suited for a variety of foodservice and retail-oriented uses that require functional back-of-house support.
Key Highlights
- 2,300 SF commercial building built in 2000 on a 3+ acre lot with frontage along M‑53
- Large open main room plus a commercial kitchen for food service or other business uses
- Handicap‑accessible features include two handicap‑accessible restrooms and an entry ramp
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
$23,876
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
8.68%
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%
$477,520
$477.5K
Cap Rate 7%
$341,086
$341.1K
Cap Rate 9%
$265,289
$265.3K
Market Conditions
NOI Build-Up for 2,300 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
$35.6K $15.48/SF
− Vacancy
−$1.5K −$0.65/SF
EGI
$34.1K $14.83/SF
− OpEx
−$10.2K −$4.45/SF
NOI
$23.9K $10.38/SF
Area
Sanilac County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$477,520
Cap Rate 7%
$341,086
Cap Rate 9%
$265,289
Alternative Uses
Best Use
Retail
$341.1K
$298.5K – $397.9K
NOI $23,876 @ 7.0% cap · market cap 8.68%
Second Best
Specialty Retail
$333.6K
$291.9K – $389.2K
NOI $23,350 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$488.5K
$427.4K – $569.9K
NOI $34,193 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 48453, MI
4,956
Population
2,147
Households
2.3
Avg Household Size
41
Median Age
13%
College-Educated
92%
High-School Grad
107.0 sq mi
ZIP Area
46
Density / Sq Mi
$53,413
Median Household Income
$31,907
Median Earnings
$851
Median Rent
$156,500
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?
Retail space - Well-maintained building with a commercial kitchen, central air, parking, and handicap-accessible entry on a 3+ acre lot.
Where is this retail space located?
The property is located at 3909 S Van Dyke Road Marlette, MI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,300 SF commercial building built in 2000 on a 3+ acre lot with frontage along M‑53; Large open main room plus a commercial kitchen for food service or other business uses; Handicap‑accessible features include two handicap‑accessible restrooms and an entry ramp
