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    Retail Storefront with Commercial Kitchen Title is generated by Realmo AI

    7023 Lakeshore Road, Lexington, MI 48450

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    Claim this Listing
    For Sale
    $199,900

    COMMERCIAL - Lexington, MI

    Property size:
    5,272 SF
    Lot size:
    0.45 Acres
    Price / SF:
    $37/SF
    Added:
    May 22, 2024
    Days on Market:
    744
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 7023 Lakeshore Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Patio and Porch features
    Patio
    Exterior features
    Deck/Patio
    Standard status
    Active
    APN
    76-261-302-003-219-10
    Size
    5,272 SF
    Lot size
    0.45 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    5011

    Utilities

    Heating system
    Floor Furnace
    Cooling system
    Ceiling Fan(s), Attic Fan, Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Roof type
    Metal, Flat

    We can help!

    Listing Contact
    Penny Schwarzentraub

    Listing agent Penny Schwarzentraub License #6502112481

    Listing office Town & Country Realty-Lexington 5543 Main St, MI

    Listing date May 22, 2024

    MLS# 50142839

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Party store business opportunity with included liquor license, beer/wine carry‑out, lotto, tobacco, and commercial kitchen/living quarters licenses
    • Roof features metal and flat roofing
    • Heating includes floor furnace
    • Cooling includes ceiling fan(s), attic fan, and wall/window unit(s)
    • Patio and deck/patio outdoor features
    • Public water source

    Overview

    This sale offering is a retail storefront property configured for a combined convenience/party store style business. The listing notes included licenses for liquor (beer and wine), carry-out, Lotto, tobacco, and a commercial kitchen, along with living quarters. The building size is listed at 5,272 square feet on a 0.45-acre lot.

    The property is described as just south of “First Resort” north of the Village of Lexington, in Sanilac County, Michigan. The Lakeshore Road address is provided, and the remarks position the property for entrepreneurs looking for an operating-ready setup in the local community.

    For operators, the practical value here is the breadth of included licenses and the presence of a commercial kitchen, which can support a retail business with prepared or prepared-to-order food components and carry-out service. The inclusion of living quarters licenses also may appeal to buyers seeking an on-site or closely managed model. Prospective buyers and brokers can review the license package and the on-site commercial kitchen provisions as key components of the business plan before proceeding.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chef's Fresco Mexicana Restaurant

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Sanilac
    State
    Michigan
    Longitude
    -82.528563
    Latitude
    43.225129

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    FAQs

    What type of property is this?
    Grocery and convenience store - Includes a commercial kitchen and multiple included business licenses for a ready-to-operate retail and food concept.
    Where is this grocery and convenience store located?
    The property is located at 7023 Lakeshore Road Lexington, MI.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: Party store business opportunity with included liquor license, beer/wine carry‑out, lotto, tobacco, and commercial kitchen/living quarters licenses; Roof features metal and flat roofing; Heating includes floor furnace
    (810) 434-5488
    We can help!
    Listing Contact
    Penny Schwarzentraub
    Real Estate License ID: 6502112481
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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