Kroger-Anchored Shopping
New
For Sale
Contact for pricing
5209-5219 Corunna Rd, Flint, MI 48532
Retail center with divisible space suited to retail, office, or warehouse use.
Property Size15,249 SF
Price / SF$163.95
Days on Market4
Property Features for 5209-5219 Corunna Rd
General Information
Standard status
Active
Size
15,249 SF
Property subtype
RETAIL
Site & Location
Corner Location
Yes
Anchor Co-Tenants
Kroger
Building Details
Tenancy
Multi
Listing Agency:
Gerdom Realty & Investment
(248) 515-7606
Listed By:
Tjader T. S. Gerdom · License #6502357230
(248) 515-7606
Source:
Moodyscre
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 1:35PM
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 Gerdom Realty & Investment
Investment Insights
Based on property information with market context.
The shopping center at 5209-5219 Corunna Rd in Flint contains 25,912 SF and is anchored by Kroger. Dollar General occupies a 10,663 SF store, while the balance of the property provides 15,249 SF of divisible commercial space.
The available area can accommodate retail, office, or warehouse use. Dollar General’s current lease extends through December 2027 and includes one 5-year extension option through December 2032. The property is positioned at the southeast corner of Corunna and Dye Roads.
The available area can accommodate retail, office, or warehouse use. Dollar General’s current lease extends through December 2027 and includes one 5-year extension option through December 2032. The property is positioned at the southeast corner of Corunna and Dye Roads.
Key Highlights
- 25,912 SF Kroger‑anchored shopping center
- 10,663 SF Dollar General store with lease through December 2027
- One 5‑year Dollar General extension option through December 2032
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
$158,298
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
6.33%
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%
$3,165,960
$3.2M
Cap Rate 7%
$2,261,400
$2.3M
Cap Rate 9%
$1,758,867
$1.8M
Market Conditions
NOI Build-Up for 15,249 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
$236.1K $15.48/SF
− Vacancy
−$9.9K −$0.65/SF
EGI
$226.1K $14.83/SF
− OpEx
−$67.8K −$4.45/SF
NOI
$158.3K $10.38/SF
Area
Genesee 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%
$3,165,960
Cap Rate 7%
$2,261,400
Cap Rate 9%
$1,758,867
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,298 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,616 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
49k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 44%
Kroger
Groceries
27,431 visits/mo
0.1 miles
Kroger Fuel Center
Shops & Services
8,848 visits/mo
0.0 miles
Dollar General
Shops & Services
6,191 visits/mo
0.1 miles
Chase Bank
Shops & Services
4,773 visits/mo
0.1 miles
Sunoco
Shops & Services
1,822 visits/mo
0.1 miles
Demographics for 48532, MI
19,247
Population
9,093
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
88%
High-School Grad
16.0 sq mi
ZIP Area
1,203
Density / Sq Mi
$58,118
Median Household Income
$34,361
Median Earnings
$929
Median Rent
$157,300
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
- Coinstar Kiosk | Bitcoin ATM — 5249 Corunna Rd, Flint, MI 48532
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with divisible space suited to retail, office, or warehouse use.
Where is this shopping center located?
The property is located at 5209-5219 Corunna Rd Flint, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 25,912 SF Kroger‑anchored shopping center; 10,663 SF Dollar General store with lease through December 2027; One 5‑year Dollar General extension option through December 2032
