Retail Space Below Market
For Sale
Contact for pricing
Pending
8012 Lewis Ave, Temperance, MI 48182
Retail space with 50+ year operating history.
Property Size7,492 SF
Days on Market167
Property Features for 8012 Lewis Ave
General Information
Standard status
Pending
Size
7,492 SF
Total Parking Spaces
20
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$63,000
Building Details
Year Built
1959
Year Renovated
2007
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
CrownPoint Partners
Listed By:
Shannon Bona · License #BK3629909
Source:
Crexi
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 11 at 7:27PM
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 CrownPoint Partners
Investment Insights
Based on property information with market context.
This retail space, with a 50+ year operating history, offers below-market rent. The property encompasses 7,492 square feet.
Key Highlights
- Below market rent provides immediate upside.
- 50+ year operating history, a testament to its enduring appeal.
- Investment grade property.
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
$71,979
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
8.23%
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%
$1,439,580
$1.4M
Cap Rate 7%
$1,028,271
$1.0M
Cap Rate 9%
$799,767
$799.8K
Market Conditions
NOI Build-Up for 7,492 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
$112.4K $15.00/SF
− Vacancy
−$9.6K −$1.28/SF
EGI
$102.8K $13.73/SF
− OpEx
−$30.8K −$4.12/SF
NOI
$72.0K $9.61/SF
Area
Monroe County, MI
Vacancy
8.50%
Lease Rate
$15.00 /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%
$1,439,580
Cap Rate 7%
$1,028,271
Cap Rate 9%
$799,767
Alternative Uses
Best Use
Retail
$1.03M
$899.7K – $1.20M
NOI $71,979 @ 7.0% cap · market cap 8.23%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.73M
$6.76M – $9.01M
NOI $540,893 @ 7.0% cap · market cap 61.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 48182, MI
21,886
Population
8,637
Households
2.5
Avg Household Size
45
Median Age
30%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
558
Density / Sq Mi
$83,155
Median Household Income
$53,378
Median Earnings
$1,306
Median Rent
$239,800
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 - Retail space with 50+ year operating history.
Where is this retail space located?
The property is located at 8012 Lewis Ave Temperance, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Below market rent provides immediate upside.; 50+ year operating history, a testament to its enduring appeal.; Investment grade property.
