Building Details

Year Built 1986

Year Renovated 2021

Tenancy Single

Listing Agency: Stream Capital Partners Show Phone

Listed By: Adam English · License #AL 000096920

Source: Crexi

Added: May 1 Changed: Aug 30 Last Checked: Aug 30 at 6:50PM

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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 Stream Capital Partners

Investment Insights

Based on property information with market context.

This gas station property is associated with GPM Investments and was built in 1986. The recorded property size is 3,647.

The property is located at 4497 South Washington Street in Ubly, Michigan 48475.

Key Highlights

• Gas station property
• Associated with GPM Investments
• Built in 1986

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

$49,267

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

3.64%

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%

$985,340 $985.3K

Cap Rate 7%

$703,814 $703.8K

Cap Rate 9%

$547,411 $547.4K

Market Conditions

NOI Build-Up for 3,647 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

$73.1K $20.04/SF

− Vacancy

−$2.7K −$0.74/SF

EGI

$70.4K $19.30/SF

− OpEx

−$21.1K −$5.79/SF

NOI

$49.3K $13.51/SF

Area

Huron County, MI

Vacancy

3.70%

Lease Rate

$20.04 /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%

$985,340

Cap Rate 7%

$703,814

Cap Rate 9%

$547,411

Alternative Uses

Best Use

Industrial

$703.8K

$615.8K – $821.1K (±1% cap)

NOI $49,267 @ 7.0% cap · market cap 3.64%

Second Best

Specialty Retail

$611.9K

$535.4K – $713.9K (±1% cap)

NOI $42,834 @ 7.0% cap · market cap 3.16%

Theoretical Best

Warehouse

$848.4K

$742.4K – $989.8K (±1% cap)

NOI $59,390 @ 7.0% cap · market cap 4.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Subway Take-out & Catering Speedy Q Gas Station Sunoco Gas Station Village Mini Market Grocery & Convenience Store

Suggested Use

Top Pick Dental Office HVAC Service Auto Parts Store Pharmacy Garden Center Barber Shop

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

80

Businesses Nearby

3k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Shell Shops & Services

3,106 visits/mo 0.5 miles

Demographics for 48475, MI

2,691

Population

1,112

Households

2.4

Avg Household Size

42

Median Age

13%

College-Educated

93%

High-School Grad

108.1 sq mi

ZIP Area

25

Density / Sq Mi

$60,347

Median Household Income

$37,306

Median Earnings

$823

Median Rent

$158,700

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

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Gas station - Built in 1986 on South Washington Street in Ubly, Michigan.

Where is this gas station located?

The property is located at 4497 South Washington Street Ubly, MI.

What is the asking price?

The asking price for this property is $1,354,000.

What are key features of this property?

This property features: Gas station property; Associated with GPM Investments; Built in 1986