Building Details

Building Size 6,635 SF

Year Built 1956

Stories 1

Listing Agency: The Charles Reinhart Co

Listed By: Todd Lands · License #6506044616 Show Phone

Source: Cpix.resimplifi

Added: Jul 15 Changed: Oct 25 Last Checked: Oct 28 at 4:47AM

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Investment Insights

Based on property information with market context.

The 6,635-square-foot retail property includes a storefront occupied by Radio Shack, a second retail area, a commercial-grade kitchen, and a tall storage section. The kitchen has previously supported catering operations, while the additional retail space was most recently used by a wireless phone dealer. These distinct areas provide a varied commercial layout within the building.

Built in 1956, the property is located at 731 W Michigan Ave in Saline, Michigan, and carries C-3 zoning. The west-end configuration of Riverside Plaza combines customer-facing retail areas with back-of-house kitchen and storage space, supporting several established commercial formats subject to applicable approvals.

Key Highlights

• 6,635 SF retail property in Saline, Michigan
• C‑3 zoning at 731 W Michigan Ave
• Commercial‑grade kitchen with prior catering use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$61,586

Cap Rate

8.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,231,720 $1.2M

Cap Rate 7%

$879,800 $879.8K

Cap Rate 9%

$684,289 $684.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,635 SF

Gross rent

$99.5K $15.00/SF

− Vacancy

−$11.5K −$1.74/SF

EGI

$88.0K $13.26/SF

− OpEx

−$26.4K −$3.98/SF

NOI

$61.6K $9.28/SF

Area

Washtenaw County, MI

Vacancy

11.60%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,231,720

Cap Rate 7%

$879,800

Cap Rate 9%

$684,289

Alternative Uses

Best Use

Specialty Retail

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,116 @ 7.0% cap · market cap 12.28%

Second Best

Retail

$1.29M

$1.13M – $1.50M (±1% cap)

NOI $90,219 @ 7.0% cap · market cap 12.03%

Theoretical Best

Office A

$1.95M

$1.71M – $2.27M (±1% cap)

NOI $136,469 @ 7.0% cap · market cap 18.20%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Alpha Connected Business Service Center Alpha Wireless Saline Mobile Phone Store

Suggested Use

Top Pick HVAC Service Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Computer & Electronic Repair Electrical Service Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

426

Businesses Nearby

12k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

BP Shops & Services

11,582 visits/mo 0.1 miles

Demographics for 48176, MI

22,833

Population

9,076

Households

2.5

Avg Household Size

44

Median Age

58%

College-Educated

96%

High-School Grad

70.8 sq mi

ZIP Area

323

Density / Sq Mi

$110,987

Median Household Income

$53,263

Median Earnings

$1,161

Median Rent

$384,700

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

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Frequently Asked Questions

What type of property is this?

Storefront property - C-3 property includes additional retail, kitchen, and storage areas.

Where is this storefront property located?

The property is located at 731 W Michigan Ave Saline, MI.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 6,635 SF retail property in Saline, Michigan; C‑3 zoning at 731 W Michigan Ave; Commercial‑grade kitchen with prior catering use