Former Restaurant Near Lake St.
For Sale
$500,000
6658 Riverside Rd., Marine City, MI 48039
Former McDonald's restaurant near Lake St. Clair and shopping center.
Property Size2,700 SF
Price / SF$185.19
Days on Market273
Property Features for 6658 Riverside Rd.
General Information
Standard status
Active
Size
2,700 SF
Class
B
Property subtype
Retail
Building Details
Building Size
2,700 SF
Year Built
1981
Listing Agency:
SVN-Cohn Commercial Properties
(248) 818-0010
Listed By:
Harry Cohn · License #07986251
(248) 818-0010
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 16
Last Checked: Aug 20 at 4:34AM
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 SVN-Cohn Commercial Properties
Investment Insights
Based on property information with market context.
This property, formerly a McDonald's restaurant, is located minutes from Lake St. Clair and positioned in front of a busy shopping center. The property size is 2700 square feet. It is suitable for drive-through restaurants, restaurants, and retail properties.
Key Highlights
- Former McDonald's Restaurant
- Located minutes from Lake St. Clair
- Positioned in front of busy shopping center
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
$37,396
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
7.48%
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%
$747,920
$747.9K
Cap Rate 7%
$534,229
$534.2K
Cap Rate 9%
$415,511
$415.5K
Market Conditions
NOI Build-Up for 2,700 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
$51.2K $18.96/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$49.9K $18.47/SF
− OpEx
−$12.5K −$4.62/SF
NOI
$37.4K $13.85/SF
Area
St. Clair County, MI
Vacancy
2.60%
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%
$747,920
Cap Rate 7%
$534,229
Cap Rate 9%
$415,511
Alternative Uses
Best Use
Specialty Retail
$534.2K
$467.5K – $623.3K
NOI $37,396 @ 7.0% cap · market cap 7.48%
Second Best
Retail
$498.6K
$436.3K – $581.7K
NOI $34,903 @ 7.0% cap · market cap 6.98%
Theoretical Best
Multifamily LT 5
$2.03M
$1.78M – $2.37M
NOI $142,084 @ 7.0% cap · market cap 28.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 48039, MI
7,485
Population
3,701
Households
2
Avg Household Size
46
Median Age
20%
College-Educated
92%
High-School Grad
23.0 sq mi
ZIP Area
325
Density / Sq Mi
$76,304
Median Household Income
$42,715
Median Earnings
$879
Median Rent
$170,800
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?
Drive through restaurant - Former McDonald's restaurant near Lake St. Clair and shopping center.
Where is this drive through restaurant located?
The property is located at 6658 Riverside Rd. Marine City, MI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Former McDonald's Restaurant; Located minutes from Lake St. Clair; Positioned in front of busy shopping center
