Riverview Retail Space For
For Sale
Contact for pricing
19230 Fort St, Riverview, MI 48193
Retail space available for purchase in Riverview, Michigan.
Property Size5,753 SF
Price / SF$112.98
Days on Market1002
Property Features for 19230 Fort St
General Information
Standard status
Active
Size
5,753 SF
Property subtype
Retail
Zoning
B2-COM
Listing Agency:
Landmark Commercial Real Estate Services
Listed By:
Anthony J. Vitale · License #6505422306
(248) 488-2620
Source:
Crexi
Added: Dec 7, 2023
Changed: Aug 23
Last Checked: Aug 30 at 9:25PM
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 Landmark Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This commercial real estate offering features a 5,753-square-foot retail space available for sale. The property is located in Riverview, Michigan.
Key Highlights
- No property information was provided to extract selling points.
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
$54,511
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
8.39%
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%
$1,090,220
$1.1M
Cap Rate 7%
$778,729
$778.7K
Cap Rate 9%
$605,678
$605.7K
Market Conditions
NOI Build-Up for 5,753 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
$82.8K $14.40/SF
− Vacancy
−$5.0K −$0.86/SF
EGI
$77.9K $13.54/SF
− OpEx
−$23.4K −$4.06/SF
NOI
$54.5K $9.48/SF
Area
Wayne County, MI
Vacancy
6.00%
Lease Rate
$14.40 /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%
$1,090,220
Cap Rate 7%
$778,729
Cap Rate 9%
$605,678
Alternative Uses
Best Use
Retail
$778.7K
$681.4K – $908.5K
NOI $54,511 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.07M
$932.0K – $1.24M
NOI $74,559 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
54k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 46%
Taco Bell
Dining
16,303 visits/mo
0.3 miles
Speedway
Shops & Services
14,265 visits/mo
0.2 miles
Burger King
Dining
9,328 visits/mo
0.2 miles
Mobil
Shops & Services
6,786 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,021 visits/mo
0.1 miles
Demographics for 48193, MI
16,110
Population
6,775
Households
2.4
Avg Household Size
44
Median Age
25%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
2,238
Density / Sq Mi
$72,894
Median Household Income
$43,451
Median Earnings
$1,088
Median Rent
$205,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for purchase in Riverview, Michigan.
Where is this retail space located?
The property is located at 19230 Fort St Riverview, MI.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: No property information was provided to extract selling points.
