Mancino's Pizza Business
For Sale
$225,000
914 Charlevoix Dr Unit 107, Grand Ledge, MI 48837
Incredible Business Opportunity!
Property Size1,571 SF
Price / SF$143.22
Days on Market212
Property Features for 914 Charlevoix Dr Unit 107
General Information
Standard status
Active
Property type
Strip malls, Other office properties, Other restaurants, Shopping malls, Office Spaces, Restaurants
Size
1,571 SF
Net Rentable
1,571 SF
Elevators
No
Listing Agency:
Century 21 Affiliated
(517) 712-5949
Listed By:
Angela · License #6501312624
(517) 712-5949
Added: Jan 21
Changed: Mar 16
Investment Insights
Based on property information with market context.
The Mancino's Grinders & Pizza business located in Grand Ledge is available for sale. This established location is known for its signature grinders, fresh pizzas, salads, and appetizers. The sale includes all equipment, and the business is currently open and running. The business has achieved consistent success through customer satisfaction, referrals, and repeat business. The location features a dine-in seating area and two lavatories. The current rent for the building is $2760 monthly, and the lease can be extended. The seller also owned a Lansing location that has been closed and contains an entire gluten-free prep station and freezer. The franchise rights to an additional Lansing location are also available for $20,000. The property size is 1571 square feet.
Key Highlights
- The prestigious Mancino's Grinders & Pizza, known for its signature grinders, fresh pizzas, salads, appetizers, and more, is ready for a new owner to take it to the next level. All the equipment to convey with the sale and business is currently open and running. This established location has achieved consistent success without any formal marketing—growth has come organically through satisfied customers, referrals, and repeat business. Start making money the day you close on this thriving walk in ready investment. Just IMAGINE the potential when combined with your marketing expertise and networking power!
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
$17,412
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
7.74%
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%
$348,240
$348.2K
Cap Rate 7%
$248,743
$248.7K
Cap Rate 9%
$193,467
$193.5K
Market Conditions
NOI Build-Up for 1,571 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
$28.3K $18.00/SF
− Vacancy
−$5.1K −$3.22/SF
EGI
$23.2K $14.78/SF
− OpEx
−$5.8K −$3.69/SF
NOI
$17.4K $11.08/SF
Area
Eaton County, MI
Vacancy
17.90%
Lease Rate
$18.00 /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%
$348,240
Cap Rate 7%
$248,743
Cap Rate 9%
$193,467
Alternative Uses
Best Use
Specialty Retail
$248.7K
$217.7K – $290.2K
NOI $17,412 @ 7.0% cap · market cap 7.74%
Second Best
Office B
$222.6K
$194.8K – $259.7K
NOI $15,580 @ 7.0% cap · market cap 6.92%
Theoretical Best
Multifamily LT 5
$18.09M
$15.83M – $21.10M
NOI $1,266,053 @ 7.0% cap · market cap 562.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 48837, MI
19,189
Population
8,638
Households
2.2
Avg Household Size
42
Median Age
39%
College-Educated
98%
High-School Grad
78.4 sq mi
ZIP Area
245
Density / Sq Mi
$93,161
Median Household Income
$54,791
Median Earnings
$1,034
Median Rent
$239,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Incredible Business Opportunity!
Where is this strip mall located?
The property is located at 914 Charlevoix Dr Unit 107 Grand Ledge, MI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: The prestigious Mancino's Grinders & Pizza, known for its signature grinders, fresh pizzas, salads, appetizers, and more, is ready for a new owner to take it to the next level. All the equipment to convey with the sale and business is currently open and running. This established location has achieved consistent success without any formal marketing—growth has come organically through satisfied customers, referrals, and repeat business. Start making money the day you close on this thriving walk in ready investment. Just IMAGINE the potential when combined with your marketing expertise and networking power!
