Mixed-Use Retail Building with
New
For Sale
$1,050,000
6111 Grand River Ave, Brighton, MI 48114
Includes a second-floor apartment, connected garage, and warehouse area for added operational flexibility.
Property Size8,174 SF
Price / SF$128.46
Days on Market6
Property Features for 6111 Grand River Ave
General Information
Standard status
Active
Size
8,174 SF
Class
C
Total Parking Spaces
18
Property subtype
Retail
Zoning
GCD
Additional Details
Road Access
Yes
Building Details
Building Size
8,174 SF
Year Built
1950
Listing Agency:
Keller Williams Living
(313) 312-5764
Listed By:
Trevor L Brooks · License #6501448878
(313) 312-5764
Source:
Cpix.resimplifi
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 16 at 3:08AM
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 Living
Investment Insights
Based on property information with market context.
This 8,174-square-foot mixed-use property combines a retail building with a second-floor apartment and attached garage and warehouse space. The apartment can support owner occupancy or rental use, while the connected ancillary area accommodates storage or business operations. Built in 1950, the property is zoned GCD.
The property is located at 6111 Grand River Ave in Genoa Township, between Brighton and Howell. Its position along Grand River places the building within an active commercial corridor and near residential development. The combination of retail, residential, garage, and warehouse components creates a multi-use configuration within one property.
The property is located at 6111 Grand River Ave in Genoa Township, between Brighton and Howell. Its position along Grand River places the building within an active commercial corridor and near residential development. The combination of retail, residential, garage, and warehouse components creates a multi-use configuration within one property.
Key Highlights
- 8,174‑square‑foot mixed‑use property with retail and residential components
- Second‑floor apartment supports owner occupancy or rental use
- Connected garage and warehouse space included
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
$84,557
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
8.05%
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%
$1,691,140
$1.7M
Cap Rate 7%
$1,207,957
$1.2M
Cap Rate 9%
$939,522
$939.5K
Market Conditions
NOI Build-Up for 8,174 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
$147.1K $18.00/SF
− Vacancy
−$26.3K −$3.22/SF
EGI
$120.8K $14.78/SF
− OpEx
−$36.2K −$4.43/SF
NOI
$84.6K $10.34/SF
Area
Livingston County, MI
Vacancy
17.90%
Lease Rate
$18.00 /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%
$1,691,140
Cap Rate 7%
$1,207,957
Cap Rate 9%
$939,522
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,557 @ 7.0% cap · market cap 8.05%
Second Best
Mixed Use
$867.0K
$758.7K – $1.01M
NOI $60,692 @ 7.0% cap · market cap 5.78%
Theoretical Best
Healthcare Medical
$1.30M
$1.14M – $1.52M
NOI $91,139 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
Explore this area
Business Placement
Demographics for 48114, MI
21,222
Population
8,223
Households
2.6
Avg Household Size
45
Median Age
47%
College-Educated
97%
High-School Grad
29.0 sq mi
ZIP Area
732
Density / Sq Mi
$118,581
Median Household Income
$55,946
Median Earnings
$1,333
Median Rent
$384,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a second-floor apartment, connected garage, and warehouse area for added operational flexibility.
Where is this mixed-use property located?
The property is located at 6111 Grand River Ave Brighton, MI.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 8,174‑square‑foot mixed‑use property with retail and residential components; Second‑floor apartment supports owner occupancy or rental use; Connected garage and warehouse space included
