6998 US-2, Gladstone, MI 49837
Turn-key party store with growth potential in prime location.
- Added:
- Oct 3, 2024
- Days on Market:
- 642
- Last Refresh:
- May 12 at 9:13 pm
Property Features for 6998 US-2
General Information
- Standard status
- Active
- Size
- 1,500 SF
- Lot size
- 0.29 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1977
Listing office Stephens Real Estate (906) 774-8570
Listing date Oct 3, 2024
Source Crexi
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 Stephens Real Estate
HighLights
- Prime location with excellent visibility and high traffic
- Turn‑key business with a strong reputation and steady customer base
- Huge growth potential through expanded product offerings and marketing
- Ample parking and easy in/out access
- Includes equipment, inventory, security system, and all licenses
- 1,500 sq ft building on .29 acres provides ample space for expansion
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.0k | $18.00 |
| − Vacancy | −$702 | −$0.47 |
| EGI | $26.3k | $17.53 |
| − OpEx | −$6.6k | −$4.38 |
| NOI | $19.7k | $13.15 |
Alternative Uses
Current Use by Public Records
Map
- City
- Gladstone
- County
- Delta
- State
- Michigan
- Longitude
- -87.0533
- Latitude
- 45.8921
