Retail Storefront with Rear
For Sale
$224,900
412 Washington Avenue, Bay City, MI 48708
Downtown commercial space with updated HVAC and exposed ceiling design.
Property Size2,463 SF
Price / SF$89.96
Days on Market21
Property Features for 412 Washington Avenue
General Information
Standard status
Active
Size
2,463 SF
Property subtype
Commercial
Building Details
Building Size
2,463 SF
Year Built
1956
Listing Agency:
Century 21 Signature Realty
(989) 239-5581
Listed By:
Ken Kujawa · License #6502333762
Source:
Erareardonrealty
Added: Aug 11
Changed: Aug 29
Last Checked: Aug 30 at 5:39PM
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 Century 21 Signature Realty
Investment Insights
Based on property information with market context.
Built in 1956, this retail storefront provides 2,500 square feet of commercial space with updated HVAC systems and exposed 12-foot ceilings. The property includes a rear parking lot at 415 Adams measuring 200 feet deep by 50 feet wide.
The storefront is situated in downtown Bay City near City Hall, Starbucks, and the new Pita Way. Its combination of retail space, ceiling height, building updates, and rear parking supports a range of storefront-oriented commercial uses.
The storefront is situated in downtown Bay City near City Hall, Starbucks, and the new Pita Way. Its combination of retail space, ceiling height, building updates, and rear parking supports a range of storefront-oriented commercial uses.
Key Highlights
- 2,500 SF of retail commercial space
- Updated HVAC systems
- Exposed 12 ft ceilings
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
$18,480
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
8.22%
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%
$369,600
$369.6K
Cap Rate 7%
$264,000
$264.0K
Cap Rate 9%
$205,333
$205.3K
Market Conditions
NOI Build-Up for 2,500 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
$30.0K $12.00/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$26.4K $10.56/SF
− OpEx
−$7.9K −$3.17/SF
NOI
$18.5K $7.39/SF
Area
Bay County, MI
Vacancy
12.00%
Lease Rate
$12.00 /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%
$369,600
Cap Rate 7%
$264,000
Cap Rate 9%
$205,333
Alternative Uses
Best Use
Retail
$264.0K
$231.0K – $308.0K
NOI $18,480 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$452.6K
$396.0K – $528.0K
NOI $31,680 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
88k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 78%
Hotels & Casinos 18%
Shops & Services 4%
McDonald's
Dining
26,474 visits/mo
0.1 miles
Starbucks
Dining
16,323 visits/mo
0.0 miles
Taco Bell
Dining
15,676 visits/mo
0.1 miles
Rally's
Dining
9,737 visits/mo
0.4 miles
DoubleTree by Hilton Hotel Bay City - Riverfront
Hotels & Casinos
9,610 visits/mo
0.2 miles
Demographics for 48708, MI
25,860
Population
12,625
Households
2
Avg Household Size
41
Median Age
17%
College-Educated
89%
High-School Grad
29.1 sq mi
ZIP Area
889
Density / Sq Mi
$50,216
Median Household Income
$31,978
Median Earnings
$703
Median Rent
$98,500
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.
Similar Off Market Nearby
- Memories by Candlelight — 805 Columbus Ave, Bay City, MI 48708
- Keits Flower Shop of Bay City — 609 Washington Ave, Bay City, MI 48708
- Regent Floral & Mercantile — 924 Washington Ave, Bay City, MI 48708
Frequently Asked Questions
What type of property is this?
Storefront property - Downtown commercial space with updated HVAC and exposed ceiling design.
Where is this storefront property located?
The property is located at 412 Washington Avenue Bay City, MI.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 2,500 SF of retail commercial space; Updated HVAC systems; Exposed 12 ft ceilings
