Storefront with Commercial
New
For Sale
$185,000
710 Lake St, Roscommon, MI 48653
An approved kitchen and adjacent parking area add practical flexibility to this downtown corner property.
Property Size1,600 SF
Price / SF$115.63
Days on Market1
Property Features for 710 Lake St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Amenities
approved commercial kitchen
adjoining parking lot
Building Details
Buildings
1
Listing Agency:
Century
(906) 420-3400
Listed By:
Todd L Jansen · License #6&8203;5&8203;0&8203;2&8203;4&8203;0&8203;8&8203;8&8203;9&8203;3
(989) 205-2657
Source:
Puremichiganproperty
Added: Sep 24
Last Checked: Sep 24 at 7:36AM
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 Century
Investment Insights
Based on property information with market context.
This 1,600-square-foot storefront was built in 1950 and has received updates that include LED lighting, ceiling tiles, and Wi-Fi security cameras. An approved commercial kitchen is part of the building, with a parking lot adjoining the property to the southeast.
The property occupies a corner in downtown Roscommon, Michigan, at 710 Lake.
The property occupies a corner in downtown Roscommon, Michigan, at 710 Lake.
Key Highlights
- 1,600‑square‑foot storefront built in 1950
- Approved commercial kitchen
- Adjoining parking lot lies southeast of the building
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
$12,181
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
6.58%
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%
$243,620
$243.6K
Cap Rate 7%
$174,014
$174.0K
Cap Rate 9%
$135,344
$135.3K
Market Conditions
NOI Build-Up for 1,600 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
$22.5K $14.04/SF
− Vacancy
−$6.2K −$3.89/SF
EGI
$16.2K $10.15/SF
− OpEx
−$4.1K −$2.54/SF
NOI
$12.2K $7.61/SF
Area
Roscommon County, MI
Vacancy
27.70%
Lease Rate
$14.04 /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%
$243,620
Cap Rate 7%
$174,014
Cap Rate 9%
$135,344
Alternative Uses
Best Use
Specialty Retail
$174.0K
$152.3K – $203.0K
NOI $12,181 @ 7.0% cap · market cap 6.58%
Second Best
Retail
$165.5K
$144.8K – $193.1K
NOI $11,585 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$263.3K
$230.4K – $307.2K
NOI $18,432 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 48653, MI
9,598
Population
9,814
Households
1
Avg Household Size
55
Median Age
27%
College-Educated
93%
High-School Grad
241.8 sq mi
ZIP Area
40
Density / Sq Mi
$67,708
Median Household Income
$41,548
Median Earnings
$801
Median Rent
$161,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - An approved kitchen and adjacent parking area add practical flexibility to this downtown corner property.
Where is this storefront property located?
The property is located at 710 Lake St Roscommon, MI.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,600‑square‑foot storefront built in 1950; Approved commercial kitchen; Adjoining parking lot lies southeast of the building
