Updated Retail
New
For Sale
$149,900
8020 E Richfield Rd, Davison, MI 48423
Retail property with on-site parking, central air-conditioning, and a roof replaced five years ago.
Property Size1,200 SF
Days on Market2
Property Features for 8020 E Richfield Rd
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,866
Building Details
Building Size
1,200 SF
Year Built
1970
Listing Agency:
East Central, LLC
Listed By:
Kristine D McCarty · License #6501308571
(810) 397-0498
Source:
Elliman
Added: Sep 19
Last Checked: Sep 19 at 2:27PM
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 East Central, LLC
Investment Insights
Based on property information with market context.
This retail storefront was built in 1970 and has received several significant updates, including a new furnace, central air-conditioning, and a roof that is five years old. The property sits on a sizable lot with parking available for customers, clients, and employees.
Located at 8020 E Richfield Rd in Richfield Township, the property has a Walk Score of 0 and a Bike Score of 25, indicating a car-dependent setting with limited bike access. The storefront is suited to a business seeking an established commercial building with updated core systems and on-site parking.
Located at 8020 E Richfield Rd in Richfield Township, the property has a Walk Score of 0 and a Bike Score of 25, indicating a car-dependent setting with limited bike access. The storefront is suited to a business seeking an established commercial building with updated core systems and on-site parking.
Key Highlights
- Retail storefront on a sizable lot
- New furnace and central air‑conditioning
- Roof replaced 5 years ago
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
$12,457
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
8.31%
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%
$249,140
$249.1K
Cap Rate 7%
$177,957
$178.0K
Cap Rate 9%
$138,411
$138.4K
Market Conditions
NOI Build-Up for 1,200 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
$18.6K $15.48/SF
− Vacancy
−$780 −$0.65/SF
EGI
$17.8K $14.83/SF
− OpEx
−$5.3K −$4.45/SF
NOI
$12.5K $10.38/SF
Area
Genesee 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%
$249,140
Cap Rate 7%
$177,957
Cap Rate 9%
$138,411
Alternative Uses
Best Use
Retail
$178.0K
$155.7K – $207.6K
NOI $12,457 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$252.5K
$221.0K – $294.6K
NOI $17,676 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48423, MI
33,801
Population
15,248
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
524
Density / Sq Mi
$64,096
Median Household Income
$40,463
Median Earnings
$953
Median Rent
$209,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with on-site parking, central air-conditioning, and a roof replaced five years ago.
Where is this storefront property located?
The property is located at 8020 E Richfield Rd Davison, MI.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Retail storefront on a sizable lot; New furnace and central air‑conditioning; Roof replaced 5 years ago
