Renovated Market with Liquor
For Sale
Contact for pricing
Pending
7120 W McNichols Rd, Detroit, MI 48221
Turnkey market opportunity near University of Detroit Mercy.
Property Size4,800 SF
Days on Market210
Property Features for 7120 W McNichols Rd
General Information
Standard status
Pending
Size
4,800 SF
Property subtype
Retail
Listing Agency:
Michigan Business Broker
Listed By:
Nadir Jiddou · License #MI
Source:
Crexi
Added: Mar 6
Changed: Sep 28
Last Checked: Oct 1 at 11:14AM
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 Michigan Business Broker
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire the newly rebranded One of a Kind Market, a fully renovated former liquor store situated along a high-visibility Detroit corridor. The sale encompasses the real estate, all equipment, and a transferable Wayne County SDD liquor license. Strategically positioned on busy W. McNichols Road, near the University of Detroit Mercy and close to the former Marygrove College campus, the location benefits from consistent traffic from students, faculty, and the surrounding neighborhood. The property features approximately 4,800 square feet, providing excellent street presence and strong daily drive-by exposure. A nearby signalized intersection improves access and visibility. The site includes eight parking spaces for customer convenience. This is an asset sale. The business is currently closed, presenting a new owner with the chance to relaunch under their own brand or continue operations as a liquor store, market, or specialty retail concept. Potential business uses include a liquor store serving the college and surrounding residential market, a neighborhood market or grocery store, a convenience store, a specialty food store, or a retail concept targeting the student population.
Key Highlights
- Includes real estate, all equipment, and a transferable Wayne County SDD liquor license.
- Located on high‑visibility W. McNichols Road near the University of Detroit Mercy.
- Approximately 4,800 square feet of space with excellent street presence.
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
$63,344
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
6.33%
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%
$1,266,880
$1.3M
Cap Rate 7%
$904,914
$904.9K
Cap Rate 9%
$703,822
$703.8K
Market Conditions
NOI Build-Up for 4,800 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
$89.3K $18.60/SF
− Vacancy
−$4.8K −$1.00/SF
EGI
$84.5K $17.60/SF
− OpEx
−$21.1K −$4.40/SF
NOI
$63.3K $13.20/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /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%
$1,266,880
Cap Rate 7%
$904,914
Cap Rate 9%
$703,822
Alternative Uses
Best Use
Specialty Retail
$904.9K
$791.8K – $1.06M
NOI $63,344 @ 7.0% cap · market cap 6.33%
Second Best
Retail
$844.6K
$739.0K – $985.4K
NOI $59,121 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$1.06M
$926.5K – $1.24M
NOI $74,123 @ 7.0% cap · market cap 7.41%
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
275
Businesses Nearby
5k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
5,290 visits/mo
0.2 miles
Demographics for 48221, MI
38,204
Population
17,452
Households
2.2
Avg Household Size
38
Median Age
29%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
7,347
Density / Sq Mi
$55,583
Median Household Income
$37,019
Median Earnings
$1,174
Median Rent
$138,700
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 Detroit, MI
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey market opportunity near University of Detroit Mercy.
Where is this grocery and convenience store located?
The property is located at 7120 W McNichols Rd Detroit, MI.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Includes real estate, all equipment, and a transferable Wayne County SDD liquor license.; Located on high‑visibility W. McNichols Road near the University of Detroit Mercy.; Approximately 4,800 square feet of space with excellent street presence.
