Convenience Store with Full
For Sale
$299,900
5460 Orleans Road, Orleans, MI 48865
COMMERCIAL - Orleans, MI
Property Size1,000 SF
Lot Size0.20 Acres
Price / SF$299.90
Days on Market221
Property Features for 5460 Orleans Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
7
Interior features
Broadband
Elementary school district
Belding
Middle school district
Belding
High school district
Belding
Directions
Belding Rd/M44 to Orleans Rd, South to Sean's Pop Shop
Subdivision
Grand Rapids - G
Standard status
Active
APN
120-150-000-025-00
Size
1,000 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VILLAGE OF PALMER W 50FT OF LOTS 2 & 3 SEC. 22 T8N R7W
Tax Annual Amount
681
Legal Description
VILLAGE OF PALMER W 50FT OF LOTS 2 & 3 SEC. 22 T8N R7W
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
1984
Floors in Building
1
Number of units
1
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
Greenridge Realty (Ionia)
(616) 527-3720
Listed By:
Darin K Elliott
(616) 902-2235
Added: Jan 12
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 26001426
Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,000-square-foot convenience store occupies a 0.2-acre property and has undergone a comprehensive interior and exterior update within the past 2 years. Improvements include a new roof, vinyl siding, mechanical systems, tile flooring, finished wood surfaces, updated fixtures, and a metal roof. The layout includes a bathroom, eating area, full kitchen, commercial coolers, an ice cream freezer, and broadband service.
Food-service equipment includes an automated ice maker and soft drink system, coffee and cappuccino equipment, and a soft-serve machine. The sale includes a fully stocked store with cigarettes, vape products, and additional retail merchandise. An extended retail food license is in place, along with a beer, wine, and liquor license that includes Sun Sales. The property is located at 5460 Orleans Road in Orleans, Michigan, less than 1/2 mile from M-44, with well water, septic service, and electricity available.
Food-service equipment includes an automated ice maker and soft drink system, coffee and cappuccino equipment, and a soft-serve machine. The sale includes a fully stocked store with cigarettes, vape products, and additional retail merchandise. An extended retail food license is in place, along with a beer, wine, and liquor license that includes Sun Sales. The property is located at 5460 Orleans Road in Orleans, Michigan, less than 1/2 mile from M-44, with well water, septic service, and electricity available.
Key Highlights
- 1,000‑square‑foot retail store on a 0.2‑acre property
- Renovated within the past 2 years with new roof, siding, mechanical systems, fixtures, and tile flooring
- Full kitchen with new equipment and appliances
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
$13,338
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
4.45%
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%
$266,760
$266.8K
Cap Rate 7%
$190,543
$190.5K
Cap Rate 9%
$148,200
$148.2K
Market Conditions
NOI Build-Up for 1,000 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
$19.0K $18.96/SF
− Vacancy
−$1.2K −$1.18/SF
EGI
$17.8K $17.78/SF
− OpEx
−$4.4K −$4.45/SF
NOI
$13.3K $13.34/SF
Area
Ionia County, MI
Vacancy
6.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
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%
$266,760
Cap Rate 7%
$190,543
Cap Rate 9%
$148,200
Alternative Uses
Best Use
Specialty Retail
$190.5K
$166.7K – $222.3K
NOI $13,338 @ 7.0% cap · market cap 4.45%
Second Best
Retail
$139.5K
$122.1K – $162.8K
NOI $9,765 @ 7.0% cap · market cap 3.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48865, MI
1,756
Population
698
Households
2.5
Avg Household Size
43
Median Age
12%
College-Educated
90%
High-School Grad
21.4 sq mi
ZIP Area
82
Density / Sq Mi
$68,889
Median Household Income
$41,667
Median Earnings
$782
Median Rent
$123,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Renovated retail operation with food-service equipment, commercial coolers, and licensed beer, wine, and liquor sales.
Where is this grocery and convenience store located?
The property is located at 5460 Orleans Road Orleans, MI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,000‑square‑foot retail store on a 0.2‑acre property; Renovated within the past 2 years with new roof, siding, mechanical systems, fixtures, and tile flooring; Full kitchen with new equipment and appliances
