Retail Storefront
For Sale
$1,021,538
616 S Carpenter Ave, Kingsford, MI 49802
Retail storefront property offered for sale in Kingsford, MI.
Property Size8,320 SF
Days on Market48
Property Features for 616 S Carpenter Ave
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Commercial
Lease Term
±3 Years
Net Operating Income
$148,225
Building Details
Building Size
8,320 SF
Year Built
2014
Listed By:
Nathan Fitzgibbons · License #02244861 (CA)
(858) 351-3544
Source:
Matthews
Added: Jul 18
Changed: Aug 8
Last Checked: Sep 2 at 1:16PM
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 Nathan Fitzgibbons
Investment Insights
Based on property information with market context.
This for-sale retail storefront property is listed under commercial real estate with a focus on retail use. It presents as a storefront-style asset suitable for businesses seeking a dedicated retail presence.
The property is located at 616 S Carpenter Ave in Kingsford, Michigan. The listing is offered as a retail-oriented commercial opportunity.
Additional details such as building size, layout, condition, and specific tenant or unit configuration were not provided.
The property is located at 616 S Carpenter Ave in Kingsford, Michigan. The listing is offered as a retail-oriented commercial opportunity.
Additional details such as building size, layout, condition, and specific tenant or unit configuration were not provided.
Key Highlights
- Retail storefront property for sale in Kingsford, MI
- Built in 2014
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
$75,060
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
7.35%
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%
$1,501,200
$1.5M
Cap Rate 7%
$1,072,286
$1.1M
Cap Rate 9%
$834,000
$834.0K
Market Conditions
NOI Build-Up for 8,320 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
$119.8K $14.40/SF
− Vacancy
−$12.6K −$1.51/SF
EGI
$107.2K $12.89/SF
− OpEx
−$32.2K −$3.87/SF
NOI
$75.1K $9.02/SF
Area
Dickinson County, MI
Vacancy
10.50%
Lease Rate
$14.40 /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%
$1,501,200
Cap Rate 7%
$1,072,286
Cap Rate 9%
$834,000
Alternative Uses
Best Use
Retail
$1.07M
$938.3K – $1.25M
NOI $75,060 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,284 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
31k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 34%
Home Improvements & Furnishings 12%
Groceries 3%
Kwik Trip
Shops & Services
9,119 visits/mo
0.2 miles
Burger King
Dining
5,640 visits/mo
0.0 miles
Family Dollar
Shops & Services
5,076 visits/mo
0.2 miles
SUBWAY
Dining
3,996 visits/mo
0.1 miles
Kingsford Ace
Home Improvements & Furnishings
3,816 visits/mo
0.1 miles
Demographics for 49802, MI
6,197
Population
2,768
Households
2.2
Avg Household Size
46
Median Age
26%
College-Educated
96%
High-School Grad
7.9 sq mi
ZIP Area
784
Density / Sq Mi
$61,067
Median Household Income
$37,633
Median Earnings
$861
Median Rent
$109,300
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?
Storefront property - Retail storefront property offered for sale in Kingsford, MI.
Where is this storefront property located?
The property is located at 616 S Carpenter Ave Kingsford, MI.
What is the asking price?
The asking price for this property is $1,021,538.
What are key features of this property?
This property features: Retail storefront property for sale in Kingsford, MI; Built in 2014
