Freestanding Retail with
For Sale
$1,350,000
715 S Clinton St, Grand Ledge, MI 48837
Freestanding retail property on a hard corner with an included drive-thru and substantial on-site parking.
Property Size11,080 SF
Price / SF$121.84
Days on Market151
Property Features for 715 S Clinton St
General Information
Standard status
Active
Size
11,080 SF
Property subtype
Retail
Building Details
Building Size
11,080 SF
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Louis Ciotti · License #6501335264
(248) 488-2620
Source:
Cpix.resimplifi
Added: Apr 8
Changed: Aug 10
Last Checked: Sep 5 at 3:41AM
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 Landmark Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This freestanding retail property is positioned on a hard corner and includes a drive-thru feature along with substantial parking. The offering is described as turn-key ready, while also presenting an option for potential redevelopment.
The property is located in an area with nearby retailers including Meijer, McDonald’s, and Dollar Tree, along with additional retailers. A condo association fee is approximately $400 per month.
If you’re evaluating a freestanding retail site with drive-thru access and parking, this one is presented for both immediate occupancy and redevelopment considerations.
The property is located in an area with nearby retailers including Meijer, McDonald’s, and Dollar Tree, along with additional retailers. A condo association fee is approximately $400 per month.
If you’re evaluating a freestanding retail site with drive-thru access and parking, this one is presented for both immediate occupancy and redevelopment considerations.
Key Highlights
- Freestanding retail property on a hard corner
- Included drive‑thru
- Substantial on‑site parking
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
$98,572
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
7.30%
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%
$1,971,440
$2.0M
Cap Rate 7%
$1,408,171
$1.4M
Cap Rate 9%
$1,095,244
$1.1M
Market Conditions
NOI Build-Up for 11,080 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
$171.5K $15.48/SF
− Vacancy
−$30.7K −$2.77/SF
EGI
$140.8K $12.71/SF
− OpEx
−$42.2K −$3.81/SF
NOI
$98.6K $8.90/SF
Area
Eaton County, MI
Vacancy
17.90%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$1,971,440
Cap Rate 7%
$1,408,171
Cap Rate 9%
$1,095,244
Alternative Uses
Best Use
Retail
$1.41M
$1.23M – $1.64M
NOI $98,572 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$127.56M
$111.62M – $148.82M
NOI $8,929,257 @ 7.0% cap · market cap 661.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
215k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Groceries 30%
Dining 28%
Home Improvements & Furnishings 2%
Meijer
Groceries
64,038 visits/mo
0.3 miles
McDonald's
Dining
24,604 visits/mo
0.3 miles
Speedway
Shops & Services
23,972 visits/mo
0.2 miles
Dollar Tree
Shops & Services
14,374 visits/mo
0.2 miles
Mister Car Wash
Shops & Services
13,923 visits/mo
0.2 miles
Demographics for 48837, MI
19,189
Population
8,638
Households
2.2
Avg Household Size
42
Median Age
39%
College-Educated
98%
High-School Grad
78.4 sq mi
ZIP Area
245
Density / Sq Mi
$93,161
Median Household Income
$54,791
Median Earnings
$1,034
Median Rent
$239,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail property on a hard corner with an included drive-thru and substantial on-site parking.
Where is this retail space located?
The property is located at 715 S Clinton St Grand Ledge, MI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Freestanding retail property on a hard corner; Included drive‑thru; Substantial on‑site parking
