Established Beer and Wine
For Sale
$574,899
7512 9 Mile E, Warren, MI 48091
Turnkey beer and wine store in high-traffic area.
Property Size3,034 SF
Days on Market120
Property Features for 7512 9 Mile E
General Information
Standard status
Active
Size
3,034 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,874
Building Details
Building Size
3,034 SF
Year Built
2005
Listing Agency:
Summit Union Real Estate
(586) 554-6107
Listed By:
Nathaniel Korkis
(586) 554-6107
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Aug 21 at 7:52AM
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 Summit Union Real Estate
Investment Insights
Based on property information with market context.
This well-established beer and wine store is situated in a high-traffic area, benefiting from strong visibility and a consistent customer flow. The turnkey business presents an opportunity for either an owner-operator or an investor. Financing may be accessible for qualified buyers, as the store has been SBA loan approved. The property has the potential to increase sales and overall performance with the addition of a liquor license. The location has a bike score of 63, indicating it is bikeable, and a walk score of 77, indicating it is very walkable.
Key Highlights
- High‑traffic location with strong visibility and consistent customer flow.
- SBA loan approved, facilitating easier financing.
- Significant upside potential with the addition of a liquor license.
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
$44,099
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
7.67%
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%
$881,980
$882.0K
Cap Rate 7%
$629,986
$630.0K
Cap Rate 9%
$489,989
$490.0K
Market Conditions
NOI Build-Up for 3,034 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
$61.9K $20.40/SF
− Vacancy
−$3.1K −$1.02/SF
EGI
$58.8K $19.38/SF
− OpEx
−$14.7K −$4.85/SF
NOI
$44.1K $14.54/SF
Area
Warren, MI
Vacancy
5.00%
Lease Rate
$20.40 /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%
$881,980
Cap Rate 7%
$629,986
Cap Rate 9%
$489,989
Alternative Uses
Best Use
Specialty Retail
$630.0K
$551.2K – $735.0K
NOI $44,099 @ 7.0% cap · market cap 7.67%
Second Best
Retail
$533.9K
$467.1K – $622.8K
NOI $37,370 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$669.3K
$585.7K – $780.9K
NOI $46,852 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
77k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 43%
Electronics 1%
McDonald's
Dining
20,865 visits/mo
0.2 miles
Dollar General
Shops & Services
9,350 visits/mo
0.1 miles
Citgo
Shops & Services
8,844 visits/mo
0.4 miles
Burger King
Dining
8,428 visits/mo
0.1 miles
KFC
Dining
6,583 visits/mo
0.3 miles
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Royal Super Market — 8653 E 9 Mile Rd, Warren, MI 48089
- Shoppers Market — 22800 Van Dyke Ave, Warren, MI 48089
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey beer and wine store in high-traffic area.
Where is this grocery and convenience store located?
The property is located at 7512 9 Mile E Warren, MI.
What is the asking price?
The asking price for this property is $574,899.
What are key features of this property?
This property features: High‑traffic location with **strong visibility and consistent customer flow.**; SBA loan approved, facilitating easier financing.; Significant upside potential with the addition of a liquor license.
