Corner Conventional
For Sale
Contact for pricing
53100 Gratiot, New Baltimore, MI 48051
Operating restaurant with included furniture, fixtures, equipment, and required licenses at a two-road-access commercial corner.
Property Size3,813 SF
Price / SF$367.16
Days on Market183
Property Features for 53100 Gratiot
General Information
Standard status
Active
Size
3,813 SF
Property subtype
Retail
Occupancy
100%
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
Coldwell Banker Professionals
Listed By:
George Stathakis · License #6501380479
(734) 818-0546
Source:
Crexi
Added: Apr 16
Changed: Oct 11
Last Checked: Oct 14 at 9:16PM
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 Coldwell Banker Professionals
Investment Insights
Based on property information with market context.
This operating restaurant occupies a well-maintained building constructed in 2005. Furniture, fixtures, equipment, and required licenses are included, supporting continuity for a new operator. The property is positioned at the corner of Gratiot Road and 24 Mile, with access from both roads and a configuration suited to its current restaurant use.
Located at 53100 Gratiot in New Baltimore, Michigan, the site benefits from exposure to traffic along Gratiot Road and 24 Mile. The building can continue serving as a restaurant, while the corner position and dual access provide additional flexibility for future commercial planning. Showings are arranged through the listing agent outside business hours.
Located at 53100 Gratiot in New Baltimore, Michigan, the site benefits from exposure to traffic along Gratiot Road and 24 Mile. The building can continue serving as a restaurant, while the corner position and dual access provide additional flexibility for future commercial planning. Showings are arranged through the listing agent outside business hours.
Key Highlights
- Hard‑corner position at Gratiot Road and 24 Mile
- Dual access from Gratiot Road and 24 Mile
- Operating restaurant with furniture, fixtures, and equipment included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,970
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,400
$999.4K
Cap Rate 7%
$713,857
$713.9K
Cap Rate 9%
$555,222
$555.2K
Market Conditions
NOI Build-Up for 3,813 SF
Gross rent
$75.5K $19.80/SF
− Vacancy
−$8.9K −$2.33/SF
EGI
$66.6K $17.47/SF
− OpEx
−$16.7K −$4.37/SF
NOI
$50.0K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$999,400
Cap Rate 7%
$713,857
Cap Rate 9%
$555,222
Alternative Uses
Best Use
Specialty Retail
$713.9K
$624.6K – $832.8K
NOI $49,970 @ 7.0% cap · market cap 3.57%
Second Best
Retail
$402.7K
$352.3K – $469.8K
NOI $28,186 @ 7.0% cap · market cap 2.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48051, MI
17,718
Population
7,255
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
1,248
Density / Sq Mi
$89,923
Median Household Income
$50,569
Median Earnings
$1,064
Median Rent
$247,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant with included furniture, fixtures, equipment, and required licenses at a two-road-access commercial corner.
Where is this conventional restaurant located?
The property is located at 53100 Gratiot New Baltimore, MI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Hard‑corner position at Gratiot Road and 24 Mile; Dual access from Gratiot Road and 24 Mile; Operating restaurant with furniture, fixtures, and equipment included
