Convenience Store with In-Store
For Sale
$850,000
555 Detroit, Detroit, MI 48205
Established convenience store with an in-place, partially operating restaurant setup and on-site customer parking.
Property Size4,000 SF
Price / SF$212.50
Days on Market71
Property Features for 555 Detroit
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Industrial
Additional Details
Business Included
Yes
Amenities
3
60100
Building Details
Year Built
19
Listing Agency:
(248) 275-7291
Listed By:
Keller Williams Home
(248) 275-7291
Source:
Xome
Added: May 30
Changed: Aug 8
Last Checked: Aug 8 at 3:57AM
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 Keller Williams Home
Investment Insights
Based on property information with market context.
This established convenience store includes an in-place restaurant setup inside the store that is currently not fully operating, offering a ready configuration for a new operator to activate that space. The property is positioned as a daily-traffic retail stop designed to support consistent customer use, with on-site parking for convenience.
The business is reported to generate over $1.2 million in annual sales and benefits from strong visibility along a commercial corridor in Detroit. It is offered for sale in a Wayne County area.
The offering is presented as a turnkey opportunity due to the combination of the operating convenience store and the existing restaurant setup within the same location.
The business is reported to generate over $1.2 million in annual sales and benefits from strong visibility along a commercial corridor in Detroit. It is offered for sale in a Wayne County area.
The offering is presented as a turnkey opportunity due to the combination of the operating convenience store and the existing restaurant setup within the same location.
Key Highlights
- Established Detroit‑area convenience store on a high‑traffic commercial corridor with over $1.2M in annual sales
- Includes an in‑place restaurant setup inside the store that is currently not fully operating
- On‑site customer parking for store convenience
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
$52,787
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
6.21%
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%
$1,055,740
$1.1M
Cap Rate 7%
$754,100
$754.1K
Cap Rate 9%
$586,522
$586.5K
Market Conditions
NOI Build-Up for 4,000 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
$74.4K $18.60/SF
− Vacancy
−$4.0K −$1.00/SF
EGI
$70.4K $17.60/SF
− OpEx
−$17.6K −$4.40/SF
NOI
$52.8K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,055,740
Cap Rate 7%
$754,100
Cap Rate 9%
$586,522
Alternative Uses
Best Use
Specialty Retail
$754.1K
$659.8K – $879.8K
NOI $52,787 @ 7.0% cap · market cap 6.21%
Second Best
Retail
$703.8K
$615.9K – $821.1K
NOI $49,268 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$882.4K
$772.1K – $1.03M
NOI $61,769 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 47%
Wendy's
Dining
9,950 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,932 visits/mo
0.2 miles
Sunoco
Shops & Services
3,447 visits/mo
0.2 miles
The UPS Store
Shops & Services
315 visits/mo
0.4 miles
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Margin Group Corporation — 16423 E Warren Ave, Detroit, MI 48224
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established convenience store with an in-place, partially operating restaurant setup and on-site customer parking.
Where is this grocery and convenience store located?
The property is located at 555 Detroit Detroit, MI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Established Detroit‑area convenience store on a high‑traffic commercial corridor with over $1.2M in annual sales; Includes an in‑place restaurant setup inside the store that is currently not fully operating; On‑site customer parking for store convenience
