Commercial Land on
For Sale
Contact for pricing
9692 E M-36, Hamburg, MI 48189
Land suitable for restaurant, retail, medical, or office development.
Property Size2,700 SF
Price / SF$250
Days on Market1551
Property Features for 9692 E M-36
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Retail, Land
Zoning
Commercial District
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Signature Associates
(248) 359-0647
Listed By:
Marvin Petrous · License #6501386692
Source:
Crexi
Added: May 24, 2022
Changed: Aug 14
Last Checked: Aug 20 at 4:52PM
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 Signature Associates
Investment Insights
Based on property information with market context.
This commercial land offers an investment or development opportunity suitable for restaurant, retail, medical, office, and other commercial uses. The property benefits from high US-23 commuter traffic and growing demographics. Several new commercial and residential developments are underway along M-36. Neighboring businesses include Arby’s, McDonalds, KFC, First National Bank, and gas stations. The property size is 2700 square feet.
Key Highlights
- Tremendous US‑23 commuter traffic counts
- Investment or development opportunity for multiple uses (restaurant, retail, medical, office)
- Growing demographics
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
$29,585
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
4.38%
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%
$591,700
$591.7K
Cap Rate 7%
$422,643
$422.6K
Cap Rate 9%
$328,722
$328.7K
Market Conditions
NOI Build-Up for 2,700 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
$40.5K $15.00/SF
− Vacancy
−$1.1K −$0.39/SF
EGI
$39.4K $14.61/SF
− OpEx
−$9.9K −$3.65/SF
NOI
$29.6K $10.96/SF
Area
Livingston County, MI
Vacancy
2.60%
Lease Rate
$15.00 /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%
$591,700
Cap Rate 7%
$422,643
Cap Rate 9%
$328,722
Alternative Uses
Best Use
Specialty Retail
$422.6K
$369.8K – $493.1K
NOI $29,585 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$399.0K
$349.1K – $465.5K
NOI $27,930 @ 7.0% cap · market cap 4.14%
Theoretical Best
Healthcare Medical
$430.1K
$376.3K – $501.8K
NOI $30,105 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 48189, MI
14,038
Population
6,196
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
97%
High-School Grad
34.2 sq mi
ZIP Area
410
Density / Sq Mi
$82,433
Median Household Income
$48,223
Median Earnings
$1,228
Median Rent
$286,200
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?
Commercial land - Land suitable for restaurant, retail, medical, or office development.
Where is this commercial land located?
The property is located at 9692 E M-36 Hamburg, MI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Tremendous US‑23 commuter traffic counts; Investment or development opportunity for multiple uses (restaurant, retail, medical, office); Growing demographics
