Historic Building on Lakeland
For Sale
Contact for pricing
915 S Clinton St, Stockbridge, MI 49285
Renovated building on the Mike Levine Lakeland Trail.
Property Size1,440 SF
Price / SF$225.69
Days on Market780
Property Features for 915 S Clinton St
General Information
Standard status
Active
Size
1,440 SF
Class
A
Total Parking Spaces
10
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
Modified Gross
Building Details
Year Built
2019
Year Renovated
2019
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
KW Commercial
(586) 443-1618
Listed By:
Brigs Lulaj · License #MI 6501448878
Source:
Crexi
Added: Jul 3, 2024
Changed: Aug 21
Last Checked: Aug 21 at 9:24AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This historic building, renovated in 2019, is located along the Mike Levine Lakeland Trail in Stockbridge. The property offers a business opportunity for a new owner to establish a local establishment. It features a commercial kitchen and an included list of items. Potential uses include a sandwich shop, coffee shop, cafe, or bike shop. A ride-up window caters to horseback riders and bikers. The property has space for picnic tables or a gazebo in the yard. The location is near the middle of the trail, between Lakeland and Jackson. Park and basketball courts are within walking distance. An upstairs room is plumbed for a full bath and could be finished as an office, workspace, or studio apartment. The business is handicap accessible, with public parking nearby. The property size is 1440 square feet.
Key Highlights
- Prime location directly on the Mike Levine Lakeland Trail, a popular route for bikers, horseback riders, and other outdoor enthusiasts.
- Fully renovated in 2019 and ready for immediate business operation.
- Equipped with a complete commercial kitchen and an impressive list of included items.
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
$12,768
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
3.93%
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%
$255,360
$255.4K
Cap Rate 7%
$182,400
$182.4K
Cap Rate 9%
$141,867
$141.9K
Market Conditions
NOI Build-Up for 1,440 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
$20.7K $14.40/SF
− Vacancy
−$3.7K −$2.58/SF
EGI
$17.0K $11.82/SF
− OpEx
−$4.3K −$2.96/SF
NOI
$12.8K $8.87/SF
Area
Ingham County, MI
Vacancy
17.90%
Lease Rate
$14.40 /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%
$255,360
Cap Rate 7%
$182,400
Cap Rate 9%
$141,867
Alternative Uses
Best Use
Specialty Retail
$182.4K
$159.6K – $212.8K
NOI $12,768 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.4K
$202.4K – $269.9K
NOI $16,195 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 49285, MI
5,866
Population
2,686
Households
2.2
Avg Household Size
44
Median Age
23%
College-Educated
91%
High-School Grad
76.0 sq mi
ZIP Area
77
Density / Sq Mi
$72,578
Median Household Income
$46,530
Median Earnings
$814
Median Rent
$208,100
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?
Restaurant - Renovated building on the Mike Levine Lakeland Trail.
Where is this restaurant located?
The property is located at 915 S Clinton St Stockbridge, MI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Prime location directly on the Mike Levine Lakeland Trail, a popular route for bikers, horseback riders, and other outdoor enthusiasts.; Fully renovated in 2019 and ready for immediate business operation.; Equipped with a complete commercial kitchen and an impressive list of included items.
