Operating Supermarket/Convenient Store For
For Sale
Contact for pricing
19000 W Warren Ave, Detroit, MI 48228
Operating supermarket/convenient store for sale.
Property Size2,562 SF
Price / SF$156.13
Days on Market1137
Property Features for 19000 W Warren Ave
General Information
Standard status
Active
Size
2,562 SF
Class
B
Total Parking Spaces
20
Property subtype
Retail
Zoning
B4
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$34,800
Building Details
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
NAI Farbman Southfield
(586) 871-5155
Listed By:
Harrison Yaldoo · License #MI 6501433927
Source:
Crexi
Added: Jul 13, 2023
Changed: Aug 16
Last Checked: Aug 21 at 8:12AM
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 NAI Farbman Southfield
Investment Insights
Based on property information with market context.
This is an operating supermarket and convenient store available for sale. The property size is 2562 square feet.
Key Highlights
- Operating Supermarket/Convenient Store
- For Sale
- Additional Property Details
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
$35,048
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
8.76%
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%
$700,960
$701.0K
Cap Rate 7%
$500,686
$500.7K
Cap Rate 9%
$389,422
$389.4K
Market Conditions
NOI Build-Up for 2,562 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
$49.2K $19.20/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$46.7K $18.24/SF
− OpEx
−$11.7K −$4.56/SF
NOI
$35.0K $13.68/SF
Area
ZIP 48228
Vacancy
5.00%
Lease Rate
$19.20 /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%
$700,960
Cap Rate 7%
$500,686
Cap Rate 9%
$389,422
Alternative Uses
Best Use
Specialty Retail
$500.7K
$438.1K – $584.1K
NOI $35,048 @ 7.0% cap · market cap 8.76%
Second Best
Retail
$450.8K
$394.5K – $525.9K
NOI $31,556 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$526.2K
$460.5K – $613.9K
NOI $36,836 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 96%
Dining 4%
Family Dollar
Shops & Services
7,187 visits/mo
0.2 miles
Citgo
Shops & Services
4,583 visits/mo
0.1 miles
AutoZone
Shops & Services
3,680 visits/mo
0.2 miles
Comerica Bank
Shops & Services
2,390 visits/mo
0.4 miles
Gambino's
Dining
720 visits/mo
0.3 miles
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Retail in Detroit, MI
Questions? Ask Rey
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Similar Off Market Nearby
- Nabil Supermarket and Restaurant — 18712 W Warren Ave, Detroit, MI 48228
- Ever Fresh Market — 20125 Ann Arbor Trail, Dearborn Heights, MI 48127
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating supermarket/convenient store for sale.
Where is this grocery and convenience store located?
The property is located at 19000 W Warren Ave Detroit, MI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Operating Supermarket/Convenient Store; For Sale; Additional Property Details
