Retail Storefront with Dual Use
For Sale
$169,900
8121 MILLER RD, Swartz Creek, MI 48473
Former salon and heating and cooling company space offers a downtown retail storefront setting.
Property Size1,152 SF
Price / SF$147.48
Days on Market106
Property Features for 8121 MILLER RD
General Information
Standard status
Active
Size
1,152 SF
Property subtype
Business Opportunities
Amenities
Central Air
3
Concrete
Shingle
5080
Listing Agency:
(810) 691-4158
Listed By:
Banacki Properties
(810) 691-4158
Source:
Xome
Added: May 7
Changed: Aug 12
Last Checked: Aug 20 at 4:26AM
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 Banacki Properties
Investment Insights
Based on property information with market context.
This retail storefront was formally used as a salon and a heating and cooling company, providing an adaptable interior for a new retail use. The property is sized at 1,152 square feet.
Located at 8121 Miller Road in the heart of Downtown Swartz Creek, the space benefits from a downtown placement along Miller Road.
The building presents as a dedicated storefront opportunity with an existing commercial history, making it suitable for tenants seeking a straightforward retail layout to refresh for their operations.
Located at 8121 Miller Road in the heart of Downtown Swartz Creek, the space benefits from a downtown placement along Miller Road.
The building presents as a dedicated storefront opportunity with an existing commercial history, making it suitable for tenants seeking a straightforward retail layout to refresh for their operations.
Key Highlights
- Central air cooling and heating system with central HVAC (heating listed as '3')
- Concrete flooring
- Former salon and heating and cooling company space
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
$11,959
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
7.04%
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%
$239,180
$239.2K
Cap Rate 7%
$170,843
$170.8K
Cap Rate 9%
$132,878
$132.9K
Market Conditions
NOI Build-Up for 1,152 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
$17.8K $15.48/SF
− Vacancy
−$749 −$0.65/SF
EGI
$17.1K $14.83/SF
− OpEx
−$5.1K −$4.45/SF
NOI
$12.0K $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%
$239,180
Cap Rate 7%
$170,843
Cap Rate 9%
$132,878
Alternative Uses
Best Use
Retail
$170.8K
$149.5K – $199.3K
NOI $11,959 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.4K
$212.1K – $282.8K
NOI $16,969 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 30%
Marathon
Shops & Services
3,711 visits/mo
0.3 miles
Hungry Howie's Pizza
Dining
2,861 visits/mo
0.2 miles
Chase Bank
Shops & Services
2,860 visits/mo
0.2 miles
Demographics for 48473, MI
22,035
Population
9,853
Households
2.2
Avg Household Size
45
Median Age
25%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
392
Density / Sq Mi
$76,765
Median Household Income
$40,908
Median Earnings
$1,092
Median Rent
$191,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Budz and Bloomz Florist — 7530 Miller Rd, Swartz Creek, MI 48473
Frequently Asked Questions
What type of property is this?
Storefront property - Former salon and heating and cooling company space offers a downtown retail storefront setting.
Where is this storefront property located?
The property is located at 8121 MILLER RD Swartz Creek, MI.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Central air cooling and heating system with central HVAC (heating listed as '3'); Concrete flooring; Former salon and heating and cooling company space
