Updated Storefront Retail
For Sale
$235,000
9 E Lake St, Sand Lake, MI 49343
B-1-zoned commercial space with an open layout and corner-site access.
Property Size650 SF
Price / SF$361.54
Days on Market11
Property Features for 9 E Lake St
General Information
Standard status
Active
Size
650 SF
Property subtype
Retail
Zoning
B-1
Additional Details
Corner Location
Yes
Amenities
Power
Water
Sewer
Natural Gas
Listing Agency:
Blu House Properties brokered by EXP Realty
Listed By:
Duke Gray
(616) 862-1713
Source:
Carwm.resimplifi
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 20 at 5:20AM
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 Blu House Properties brokered by EXP Realty
Investment Insights
Based on property information with market context.
This 650 SF storefront property at 9 E Lake St in Sand Lake, MI, features an updated interior, an open layout, and a corner-site position. The compact commercial footprint is configured for retail, service, office, or specialty business use, with a visible storefront and direct access from the surrounding street network.
Zoned B-1, the property is positioned in Sand Lake’s small-town commercial setting. Its efficient layout may suit an owner-user, entrepreneur, or investor seeking a standalone commercial space with existing storefront improvements.
Zoned B-1, the property is positioned in Sand Lake’s small-town commercial setting. Its efficient layout may suit an owner-user, entrepreneur, or investor seeking a standalone commercial space with existing storefront improvements.
Key Highlights
- 650 SF updated storefront property
- B‑1 zoning
- Open, flexible interior layout
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
$8,403
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
3.58%
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%
$168,060
$168.1K
Cap Rate 7%
$120,043
$120.0K
Cap Rate 9%
$93,367
$93.4K
Market Conditions
NOI Build-Up for 650 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
$12.3K $18.96/SF
− Vacancy
−$320 −$0.49/SF
EGI
$12.0K $18.47/SF
− OpEx
−$3.6K −$5.54/SF
NOI
$8.4K $12.93/SF
Area
St. Clair County, MI
Vacancy
2.60%
Lease Rate
$18.96 /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%
$168,060
Cap Rate 7%
$120,043
Cap Rate 9%
$93,367
Alternative Uses
Best Use
Retail
$120.0K
$105.0K – $140.1K
NOI $8,403 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$488.6K
$427.6K – $570.1K
NOI $34,205 @ 7.0% cap · market cap 14.56%
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
17
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49343, MI
5,669
Population
2,528
Households
2.2
Avg Household Size
43
Median Age
15%
College-Educated
91%
High-School Grad
55.3 sq mi
ZIP Area
103
Density / Sq Mi
$81,722
Median Household Income
$46,050
Median Earnings
$694
Median Rent
$236,200
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 - B-1-zoned commercial space with an open layout and corner-site access.
Where is this storefront property located?
The property is located at 9 E Lake St Sand Lake, MI.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 650 SF updated storefront property; B‑1 zoning; Open, flexible interior layout
