4220 24th Ave Fort Gratiot Township, MI 48059
5,803 SF retail space in high-traffic retail corridor.
Property Features for 4220 24th Ave
General Information
- Standard status
- Active
- Size
- 5,803 SF
- Lot size
- 1.53 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2001
Listing office Kramer Commercial Realty (810) 531-4090
Listing date Jun 11, 2024
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Prime location in the heart of a retail corridor on 24th Ave (25,000+ VPD).
- Positioned as an outlot to Lowe's and surrounded by major big box retailers (Target, Meijer, Home Depot, Walmart).
- Large 1.53‑acre parcel with abundant parking.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.0k | $18.96 |
| − Vacancy | −$2.9k | −$0.49 |
| EGI | $107.2k | $18.47 |
| − OpEx | −$32.1k | −$5.54 |
| NOI | $75.0k | $12.93 |
