Building Details

Year built 1977

Listing Agency: Century 21 Signature Realty · Century 21 Real Estate j***@c21signaturerealty.com Show Phone

Listed By: Kyle Raup Show Phone

Added: Nov 18, 2025 Changed: Oct 6 Last Checked: Oct 25 at 2:06AM

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MLS# 50194579

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Investment Insights

Based on property information with market context.

The property includes a 5,040-square-foot retail building constructed in 1977 on 1.1 acres. The existing configuration has been used for hardware and auto-parts retail, providing a commercial base that can continue in a similar format or be adapted to another supported operation. The real estate offering includes the building and acreage; the business is separate.

Located at 7200 E M-71 Highway in Vernon, Michigan, the site is identified by postal code 48476 in Shiawassee County. Water service is provided through a private source. The available land area adds flexibility around the existing retail improvements while keeping the property within a single commercial holding.

Key Highlights

• 5,040‑square‑foot retail building
• 1.1‑acre property
• Configured for hardware and auto‑parts retail

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,577

Cap Rate

7.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$611,540 $611.5K

Cap Rate 7%

$436,814 $436.8K

Cap Rate 9%

$339,744 $339.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,040 SF

Gross rent

$45.4K $9.00/SF

− Vacancy

−$1.7K −$0.33/SF

EGI

$43.7K $8.67/SF

− OpEx

−$13.1K −$2.60/SF

NOI

$30.6K $6.07/SF

Area

Shiawassee County, MI

Vacancy

3.70%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$611,540

Cap Rate 7%

$436,814

Cap Rate 9%

$339,744

Alternative Uses

Best Use

Retail

$747.4K

$654.0K – $872.0K (±1% cap)

NOI $52,320 @ 7.0% cap · market cap 12.31%

Second Best

Industrial

$436.8K

$382.2K – $509.6K (±1% cap)

NOI $30,577 @ 7.0% cap · market cap 7.19%

Theoretical Best

Office A

$960.9K

$840.8K – $1.12M (±1% cap)

NOI $67,262 @ 7.0% cap · market cap 15.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Location Intelligence

Trade Area within ½ mile

58

Businesses Nearby

2k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Chase Bank Shops & Services

2,139 visits/mo 0.4 miles

Demographics for 48476, MI

706

Population

267

Households

2.6

Avg Household Size

42

Median Age

12%

College-Educated

92%

High-School Grad

0.7 sq mi

ZIP Area

1,009

Density / Sq Mi

$67,857

Median Household Income

$38,083

Median Earnings

$1,063

Median Rent

$122,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail space - Existing improvements are configured for hardware and auto-parts retail, with the business offered separately.

Where is this retail space located?

The property is located at 7200 E M-71 Highway Vernon, MI.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 5,040‑square‑foot retail building; 1.1‑acre property; Configured for hardware and auto‑parts retail