Flint Landmark Retail and
For Sale
$214,900
809 Church St, Flint, MI 48502
Long-standing health food store with apartment and business potential.
Property Size2,226 SF
Lot Size0.19 Acres
Price / SF$96.54
Days on Market164
Property Features for 809 Church St
General Information
Standard status
Active
Size
2,226 SF
Lot size
0.19 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,786
Building Details
Building Size
2,226 SF
Year Built
1900
Listing Agency:
(248) 240-4901
Listed By:
Nicholas Sage
(248) 240-4901
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 3:00PM
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 Nicholas Sage
Investment Insights
Based on property information with market context.
This property, operating as Flint’s Original Health Food Store for over 45 years, is available for purchase. The 2,226 sq. ft. building offers both business and investment potential. The main level features approximately 1,250 sq. ft. of retail space, complete with a kitchen and half bath. The upstairs includes a two-bedroom apartment with a full bath, kitchen, and loft, suitable for generating income or for owner-occupancy. The property includes a large parking lot and is located one block off Court Street in a high-traffic area. The property is suitable for a variety of business ventures, including a bakery, coffee shop, barber, restaurant, or dispensary. Land contract terms are available.
Key Highlights
- Established Business: Well‑known health food store operating for over 45 years with a loyal customer base.
- Income Potential: Spacious two‑bedroom apartment upstairs, ideal for rental income or owner‑occupancy.
- Prime Location: Situated one block off Court Street in a high‑traffic area.
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
$19,737
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
9.18%
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%
$394,740
$394.7K
Cap Rate 7%
$281,957
$282.0K
Cap Rate 9%
$219,300
$219.3K
Market Conditions
NOI Build-Up for 2,226 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
$32.1K $14.40/SF
− Vacancy
−$5.7K −$2.58/SF
EGI
$26.3K $11.82/SF
− OpEx
−$6.6K −$2.96/SF
NOI
$19.7K $8.87/SF
Area
Genesee County, MI
Vacancy
17.90%
Lease Rate
$14.40 /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%
$394,740
Cap Rate 7%
$281,957
Cap Rate 9%
$219,300
Alternative Uses
Best Use
Retail
$330.1K
$288.9K – $385.1K
NOI $23,108 @ 7.0% cap · market cap 10.75%
Second Best
Specialty Retail
$282.0K
$246.7K – $329.0K
NOI $19,737 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$468.4K
$409.9K – $546.5K
NOI $32,789 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48502, MI
1,478
Population
228
Households
6.5
Avg Household Size
29
Median Age
11%
College-Educated
77%
High-School Grad
0.5 sq mi
ZIP Area
2,956
Density / Sq Mi
$55,700
Median Household Income
$9,434
Median Earnings
$886
Median Rent
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- The Local Grocer — 601 Martin Luther King Ave, Flint, MI 48502
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Long-standing health food store with apartment and business potential.
Where is this grocery and convenience store located?
The property is located at 809 Church St Flint, MI.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Established Business: Well‑known health food store operating for over 45 years with a loyal customer base.; Income Potential: Spacious two‑bedroom apartment upstairs, ideal for rental income or owner‑occupancy.; Prime Location: Situated one block off Court Street in a high‑traffic area.
