C-2 Retail Space with Main Street
For Sale
Under Contract
$459,000
719 W Main Street, Gaylord, MI 49735
Commercial Sale, Gaylord, MI
Property Size1,756 SF
Lot Size0.73 Acres
Price / SF$261.39
Days on Market151
Property Features for 719 W Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Parking features
Parking Lot
Subdivision
T30N-R3W
Directions
Main St just west of Wisconsin Ave, downtown Gaylord.
Standard status
Active Under Contract
APN
PARCEL A AND PARCEL NO.11-104-OOO-130-01 COMBINED
Size
1,756 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Description
PART OF THE NORTHWEST 1/4 SECTION 4, T30N-R3W, CITY OF GAYLORD, OTSEGO COUNTY, MICHIGAN. BEING FURTHER DESCRIBED AS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 4; THENCE S 8940'43'' E, 1109.70 FEET ALONG THE NORTH LINE OF SAID SECTION TO THE POI
Legal Description
PART OF THE NORTHWEST 1/4 SECTION 4, T30N-R3W, CITY OF GAYLORD, OTSEGO COUNTY, MICHIGAN. BEING FURTHER DESCRIBED AS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 4; THENCE S 8940'43'' E, 1109.70 FEET ALONG THE NORTH LINE OF SAID SECTION TO THE POI
Utilities
Sewer type
Public Sewer
Listing Agency:
smith realty GROUP
(989) 732-2477
Listed By:
Ryan Wojan · License #6506047353
(312) 545-8596
Added: Apr 8
Changed: Aug 19
Last Checked: Sep 5 at 3:06PM
MLS# 201839302
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 C-2 retail space includes 1,756 square feet within a 0.73-acre property. The site has a parking lot and is served by public sewer, providing established commercial-site infrastructure.
Frontage is identified along M-32/Main Street in Gaylord, within Otsego County. The property address is 719 W Main Street, Gaylord, MI 49735, placing the retail space on a named commercial roadway. The combination of retail use, C-2 zoning, on-site parking, and public sewer supports a straightforward commercial property profile.
Frontage is identified along M-32/Main Street in Gaylord, within Otsego County. The property address is 719 W Main Street, Gaylord, MI 49735, placing the retail space on a named commercial roadway. The combination of retail use, C-2 zoning, on-site parking, and public sewer supports a straightforward commercial property profile.
Key Highlights
- 1,756 square feet of retail space
- 0.73‑acre property
- C‑2 zoning
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
$18,229
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
3.97%
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%
$364,580
$364.6K
Cap Rate 7%
$260,414
$260.4K
Cap Rate 9%
$202,544
$202.5K
Market Conditions
NOI Build-Up for 1,756 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
$27.2K $15.48/SF
− Vacancy
−$1.1K −$0.65/SF
EGI
$26.0K $14.83/SF
− OpEx
−$7.8K −$4.45/SF
NOI
$18.2K $10.38/SF
Area
Otsego County, MI
Vacancy
4.20%
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%
$364,580
Cap Rate 7%
$260,414
Cap Rate 9%
$202,544
Alternative Uses
Best Use
Retail
$260.4K
$227.9K – $303.8K
NOI $18,229 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.41M
$2.10M – $2.81M
NOI $168,365 @ 7.0% cap · market cap 36.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
301k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Superstores 30%
Shops & Services 26%
Groceries 6%
Walmart
Superstores
90,180 visits/mo
0.5 miles
McDonald's
Dining
34,190 visits/mo
0.1 miles
Speedway
Shops & Services
20,441 visits/mo
0.2 miles
Family Fare
Groceries
18,037 visits/mo
0.1 miles
Qdoba Mexican Grill
Dining
16,825 visits/mo
0.2 miles
Demographics for 49735, MI
20,568
Population
11,551
Households
1.8
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
248.6 sq mi
ZIP Area
83
Density / Sq Mi
$69,050
Median Household Income
$39,813
Median Earnings
$876
Median Rent
$200,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Commercial retail property includes on-site parking and public sewer service.
Where is this retail space located?
The property is located at 719 W Main Street Gaylord, MI.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1,756 square feet of retail space; 0.73‑acre property; C‑2 zoning
