Updated Storefront with Commercial
New
For Sale
$185,000
710 Lake Street, Roscommon, MI 48653
Commercial Sale, Roscommon, MI
Property Size1,655 SF
Lot Size0.19 Acres
Price / SF$111.78
Days on Market3
Property Features for 710 Lake Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Downtown Commer
Parking features
Parking Lot
Subdivision
Robinsons
Directions
South corner of intersection of Lake Street and Fifth Street.
Standard status
Active
APN
055-724-008-0000 & 07-0000
Size
1,655 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
The Northeasterly thirty-four and fifteen one-hundredths (34.15) feet of Lot Eight (8) and entire Lot 7, Block 24 Village of Roscommon.
Tax Annual Amount
2400
Legal Description
The Northeasterly thirty-four and fifteen one-hundredths (34.15) feet of Lot Eight (8) and entire Lot 7, Block 24 Village of Roscommon.
Utilities
Sewer type
Public Sewer
Amenities
approved commercial kitchen
adjoining parking lot
LED lighting
ceiling tiles
Wi Fi security cameras
Building Details
Floors in Building
1
Building materials
Brick, Block
Listing Agency:
Century 21 Realty North Higgins Lake
(989) 821-1800
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
Added: Sep 22
Last Checked: Sep 24 at 11:06PM
MLS# 201842951
Copyright © 2026 Water Wonderland Board of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront property is a recently updated commercial building in downtown Roscommon. The improvements include LED lighting, ceiling tiles, and Wi-Fi security cameras, along with an approved commercial kitchen. Brick and block construction provides the building envelope, while public sewer serves the property.
The building occupies a main corner location at 710 Lake Street and includes an adjoining parking lot positioned to the southeast. Zoning is identified as Downtown Commer, supporting the property’s commercial setting and storefront orientation.
The building occupies a main corner location at 710 Lake Street and includes an adjoining parking lot positioned to the southeast. Zoning is identified as Downtown Commer, supporting the property’s commercial setting and storefront orientation.
Key Highlights
- Approved commercial kitchen included
- Adjoining parking lot to the southeast
- Main corner location in downtown Roscommon
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
$12,600
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
6.81%
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%
$252,000
$252.0K
Cap Rate 7%
$180,000
$180.0K
Cap Rate 9%
$140,000
$140.0K
Market Conditions
NOI Build-Up for 1,655 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
$23.2K $14.04/SF
− Vacancy
−$6.4K −$3.89/SF
EGI
$16.8K $10.15/SF
− OpEx
−$4.2K −$2.54/SF
NOI
$12.6K $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%
$252,000
Cap Rate 7%
$180,000
Cap Rate 9%
$140,000
Alternative Uses
Best Use
Specialty Retail
$180.0K
$157.5K – $210.0K
NOI $12,600 @ 7.0% cap · market cap 6.81%
Second Best
Retail
$171.2K
$149.8K – $199.7K
NOI $11,984 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$272.4K
$238.3K – $317.8K
NOI $19,066 @ 7.0% cap · market cap 10.31%
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
270
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 - Updated brick-and-block storefront with an approved commercial kitchen and adjoining parking lot.
Where is this storefront property located?
The property is located at 710 Lake Street 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: Approved commercial kitchen included; Adjoining parking lot to the southeast; Main corner location in downtown Roscommon
