Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3024 Krafft Rd Fort Gratiot Township, MI 48059

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $650,000

    Prime location, vacant, 4,122 sq ft.

    Property size:
    4,122 SF

    Property Features for 3024 Krafft Rd

    General Information

    Property type
    Restaurants
    Square Feet
    4,122 SF
    Class
    C
    Lot Size
    40,946 SF

    Building Details

    Year Built
    2002
    Buildings
    1
    Stories
    1
    Units
    1

    We can help!

    Listing Contact
    Tom Blount
    Tom Blount

    Listing Agency: Pilot Property Group Listing Agent: Tom Blount

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional investment opportunity presents a vacant, 4,122 square foot building located at 3024 Krafft Rd, Fort Gratiot Township, MI 48059. Previously operating as a Hooters restaurant, this single-story, Class C property sits on a 0.94-acre lot and offers unmatched visibility. Built in 2002, the building is zoned C-2, making it ideally suited for a bar or restaurant. The property features a total of 4,122 square feet of net rentable space, with one unit currently vacant. This owner-user opportunity is perfect for entrepreneurs looking to establish a new business or expand an existing one. The property's location within Fort Gratiot Township, St. Clair County, offers strong demand drivers and the potential to tap into an existing customer base. The asking price is $650,000. The APN is 74200213008000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Gratiot Township
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.456699399572
    Latitude
    43.025090849529

    Nearby Similar for Sale

    • $10,200,000
      86,923 SF

      Fort Gratiot Plaza: Retail Investment

      Michigan Shopping Center - High Occupancy
      4025 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    • $2,350,000
      5,803 SF

      Prime QSR/Restaurant Opportunity

      Fort Gratiot, MI - Vacant, 5,803 SF
      4220 24Th Ave, Fort Gratiot Township, MI 48059
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime location, vacant, 4,122 sq ft.
    Where is this restaurant located?
    The property is located at 3024 Krafft Rd Fort Gratiot Township, 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: High-visibility former Hooters location, ideal for owner-users or investors.; Strong demand drivers and high visibility ensure excellent business potential.; Prime location for a bar or restaurant, benefiting from existing customer base and tenant synergy.
    (810) 987-2555
    Request Owner's contact information
    3024 Krafft Rd Fort Gratiot Township, MI 48059
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3024 Krafft Rd
    Fort Gratiot Township, MI 48059
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3024 Krafft Rd Fort Gratiot Township, MI 48059
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tom Blount
    Tom Blount
    Real Estate License ID: 6506044569
    (810) 987-2555
    Learn more
    Google sign-in failed. Please try again or use another login method.