Divisible Storefront
For Sale
$129,900
9463 Genesee Street, New Lothrop, MI 48460
Commercially zoned space offers dual entry points, flexible separation, and parking availability.
Property Size900 SF
Price / SF$144.33
Days on Market9
Property Features for 9463 Genesee Street
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Zoning
Commercial
Building Details
Building Size
900 SF
Year Built
1940
Buildings
1
Listing Agency:
Century 21 Signature Realty
(810) 513-3417
Listed By:
Kyle Raup · License #FAAR
Source:
Thebrokeragehouse
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 2:40PM
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 Century 21 Signature Realty
Investment Insights
Based on property information with market context.
Built in 1940, this 900-square-foot storefront property at 9463 Genesee Street provides two front entrances and a layout that can be separated for multiple uses. The building is zoned Commercial and offers immediate occupancy.
The property is situated in downtown New Lothrop Village, with access from Genesee Street and ample parking. Its configuration supports a range of retail and service concepts, including salon, boutique, and gift shop uses identified for the space.
The property is situated in downtown New Lothrop Village, with access from Genesee Street and ample parking. Its configuration supports a range of retail and service concepts, including salon, boutique, and gift shop uses identified for the space.
Key Highlights
- 900 square feet of commercial storefront space
- Two front entrances support separate access points
- Layout can be divided for multiple uses
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
$9,343
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
7.19%
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%
$186,860
$186.9K
Cap Rate 7%
$133,471
$133.5K
Cap Rate 9%
$103,811
$103.8K
Market Conditions
NOI Build-Up for 900 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
$13.9K $15.48/SF
− Vacancy
−$585 −$0.65/SF
EGI
$13.3K $14.83/SF
− OpEx
−$4.0K −$4.45/SF
NOI
$9.3K $10.38/SF
Area
Shiawassee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /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%
$186,860
Cap Rate 7%
$133,471
Cap Rate 9%
$103,811
Alternative Uses
Best Use
Retail
$133.5K
$116.8K – $155.7K
NOI $9,343 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$171.6K
$150.1K – $200.2K
NOI $12,011 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48460, MI
2,341
Population
1,107
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
94%
High-School Grad
34.5 sq mi
ZIP Area
68
Density / Sq Mi
$81,146
Median Household Income
$51,842
Median Earnings
$713
Median Rent
$200,100
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?
Storefront property - Commercially zoned space offers dual entry points, flexible separation, and parking availability.
Where is this storefront property located?
The property is located at 9463 Genesee Street New Lothrop, MI.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: 900 square feet of commercial storefront space; Two front entrances support separate access points; Layout can be divided for multiple uses
