4371 24th Ave, Fort Gratiot Township, MI 48059

Building Details

Building Size 22,118 SF More

Year Built 1999 More

Stories 1 More

Listing Agency: Pilot Property Group

Listed By: Jon Wright · License MI #6501354459 Show Phone

Source: Cpix.resimplifi

Added: Nov 9 Changed: Nov 12 Last Checked: Nov 12 at 2:42PM

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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 Pilot Property Group

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Investment Insights

Based on property information with market context.

This automotive property includes a used car lot and is zoned C-2. The building was constructed in 1999 and measures 22,118 square feet.

The property is on 24th Ave in Fort Gratiot Township, across from Birchwood Mall.

Key Highlights

• 22,118‑square‑foot automotive property
• Used car lot; former Pep Boys location
• C‑2 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$285,918

Cap Rate

5.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,718,360 $5.7M

Cap Rate 7%

$4,084,543 $4.1M

Cap Rate 9%

$3,176,867 $3.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 22,118 SF

Gross rent

$419.4K $18.96/SF

− Vacancy

−$10.9K −$0.49/SF

EGI

$408.5K $18.47/SF

− OpEx

−$122.5K −$5.54/SF

NOI

$285.9K $12.93/SF

Area

St. Clair County, MI

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,718,360

Cap Rate 7%

$4,084,543

Cap Rate 9%

$3,176,867

Alternative Uses

Best Use

Retail

$4.08M

$3.57M – $4.77M (±1% cap)

NOI $285,918 @ 7.0% cap · market cap 5.72%

Second Best

Industrial

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,589 @ 7.0% cap · market cap 2.59%

Theoretical Best

Multifamily LT 5

$16.63M

$14.55M – $19.40M (±1% cap)

NOI $1,163,930 @ 7.0% cap · market cap 23.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Real Estate Agency Building Supply Parking Lot & Garage Electrical Service Kitchen & Bath Showroom Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

557

Businesses Nearby

481k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Apparel 25% Dining 22% Shops & Services 18% Superstores 14%

Target Superstores

67,758 visits/mo 0.3 miles

T.J. Maxx Apparel

44,092 visits/mo 0.5 miles

Kohl's Apparel

40,616 visits/mo 0.2 miles

Dunham's Sports Apparel

32,311 visits/mo 0.3 miles

The Home Depot Home Improvements & Furnishings

26,196 visits/mo 0.3 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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Retail Space For Sale

4025 24th Ave, Fort Gratiot Township, MI 48059

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Similar Off Market Nearby

• U-Haul Neighborhood Dealer — 2896 Krafft Rd, Fort Gratiot Twp, MI 48059
• Fort Gratiot Self Storage — 2884 Krafft Rd, Fort Gratiot Twp, MI 48059
• Truck Rental Center at The Home Depot — Light House Point, 4195 24th Ave, Fort Gratiot Twp, MI 48059

Frequently Asked Questions

What type of property is this?

Automotive property - C-2 zoning supports the property's stated automotive use.

Where is this automotive property located?

The property is located at 4371 24th Ave Fort Gratiot Township, MI.

What is the asking price?

The asking price for this property is $5,000,000.

What are key features of this property?

This property features: 22,118‑square‑foot automotive property; Used car lot; former Pep Boys location; C‑2 zoning