Corner Storefront
New
For Sale
$449,000
3980 Pine Grove Ave, Fort Gratiot Township, MI 48059
C-2-zoned commercial building with flexible space for retail, office, medical, showroom, or service-oriented operations.
Property Size3,680 SF
Lot Size1.32 Acres
Price / SF$122.01
Days on Market7
Property Features for 3980 Pine Grove Ave
General Information
Standard status
Active
Size
3,680 SF
Lot size
1.32 Acres
Property subtype
Retail
Zoning
C-2
Site & Location
Corner Location
Yes
Road Access
Yes
Additional Details
Asking Price
$449,000
Building Details
Building Size
3,680 SF
Buildings
1
Listing Agency:
Kramer Commercial Realty
(810) 531-4090
Listed By:
Korissa Kramer · License #6502386241
(810) 531-4090
Source:
Cpix.resimplifi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 5:33PM
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 Kramer Commercial Realty
Investment Insights
Based on property information with market context.
This 3,680 SF commercial building occupies approximately 1.32 acres and is configured for flexible business use. The property can accommodate retail, office, medical, showroom, or service-related operations, with on-site parking supporting customer and staff access. C-2 zoning provides the stated land-use designation for the site.
Positioned at the signalized intersection of Pine Grove Avenue and Krafft Road in Fort Gratiot Township, the property offers access from a prominent corner setting. The building and land are offered together for sale, providing a commercial site with an adaptable existing structure and surface parking.
Positioned at the signalized intersection of Pine Grove Avenue and Krafft Road in Fort Gratiot Township, the property offers access from a prominent corner setting. The building and land are offered together for sale, providing a commercial site with an adaptable existing structure and surface parking.
Key Highlights
- 3,680 SF commercial building
- Approximately 1.32 acres
- Signalized corner at Pine Grove Avenue and Krafft Road
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
$21,561
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
4.80%
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%
$431,220
$431.2K
Cap Rate 7%
$308,014
$308.0K
Cap Rate 9%
$239,567
$239.6K
Market Conditions
NOI Build-Up for 3,680 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
$33.1K $9.00/SF
− Vacancy
−$2.3K −$0.63/SF
EGI
$30.8K $8.37/SF
− OpEx
−$9.2K −$2.51/SF
NOI
$21.6K $5.86/SF
Area
St. Clair County, MI
Vacancy
7.00%
Lease Rate
$9.00 /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%
$431,220
Cap Rate 7%
$308,014
Cap Rate 9%
$239,567
Alternative Uses
Best Use
Retail
$679.6K
$594.6K – $792.9K
NOI $47,571 @ 7.0% cap · market cap 10.59%
Second Best
Industrial
$308.0K
$269.5K – $359.4K
NOI $21,561 @ 7.0% cap · market cap 4.80%
Theoretical Best
Multifamily LT 5
$2.77M
$2.42M – $3.23M
NOI $193,655 @ 7.0% cap · market cap 43.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
269k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 30%
Dining 24%
Groceries 20%
Apparel 19%
T.J. Maxx
Apparel
44,092 visits/mo
0.3 miles
Kroger
Groceries
35,569 visits/mo
0.2 miles
Aldi
Groceries
18,465 visits/mo
0.5 miles
Dollar Tree
Shops & Services
17,738 visits/mo
0.4 miles
Taco Bell
Dining
14,638 visits/mo
0.2 miles
Demographics for 48059, MI
15,319
Population
7,324
Households
2.1
Avg Household Size
47
Median Age
30%
College-Educated
94%
High-School Grad
31.7 sq mi
ZIP Area
483
Density / Sq Mi
$78,841
Median Household Income
$44,716
Median Earnings
$956
Median Rent
$199,200
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?
Storefront property - C-2-zoned commercial building with flexible space for retail, office, medical, showroom, or service-oriented operations.
Where is this storefront property located?
The property is located at 3980 Pine Grove Ave Fort Gratiot Township, MI.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 3,680 SF commercial building; Approximately 1.32 acres; Signalized corner at Pine Grove Avenue and Krafft Road
