Building Details

Year Built 1973

Buildings 1

Stories 1

Listing Agency: Insite Commercial

Listed By: Kyle Nelson, CCIM · License #MI 6501407469 Show Phone

Source: Crexi

Added: Mar 7, 2023 Changed: Sep 26 Last Checked: Oct 5 at 6:13PM

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Investment Insights

Based on property information with market context.

A retail space is available for sale. The property has a size of 4336 square feet.

Key Highlights

• Established property built in 1973.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,883

Cap Rate

4.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$717,660 $717.7K

Cap Rate 7%

$512,614 $512.6K

Cap Rate 9%

$398,700 $398.7K

Market Conditions

NOI Build-Up for 4,336 SF

Gross rent

$62.4K $14.40/SF

− Vacancy

−$11.2K −$2.58/SF

EGI

$51.3K $11.82/SF

− OpEx

−$15.4K −$3.55/SF

NOI

$35.9K $8.28/SF

Area

Huron County, MI

Vacancy

17.90%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$717,660

Cap Rate 7%

$512,614

Cap Rate 9%

$398,700

Alternative Uses

Best Use

Retail

$512.6K

$448.5K – $598.1K (±1% cap)

NOI $35,883 @ 7.0% cap · market cap 4.63%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$1.01M

$882.6K – $1.18M (±1% cap)

NOI $70,610 @ 7.0% cap · market cap 9.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Peppermill Restaurant Restaurant

Suggested Use

Top Pick Real Estate Agency HVAC Service Storage Facility (Bike/Boat/Book/etc) Store Garden Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

417

Businesses Nearby

Explore this area Business Placement

Demographics for 48413, MI

7,138

Population

3,393

Households

2.1

Avg Household Size

47

Median Age

18%

College-Educated

90%

High-School Grad

137.2 sq mi

ZIP Area

52

Density / Sq Mi

$56,804

Median Household Income

$35,450

Median Earnings

$731

Median Rent

$143,400

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Property with Garage Space

601 N Port Crescent St N, Bad Axe, MI 48413

$299,900

8,675 SF

View details

Warehouse with Silo Storage

650 E Woodworth St, Bad Axe, MI 48413

$175,000

5,700 SF

View details

Frequently Asked Questions

What type of property is this?

Retail space - Retail space available for purchase.

Where is this retail space located?

The property is located at 685 N Port Crescent St Bad Axe, MI.

What is the asking price?

The asking price for this property is $775,000.

What are key features of this property?

This property features: Established property built in 1973.