Building Details

Stories 2

Listing Agency: Signature Associates

Listed By: Marvin Petrous · License #6501386692 Show Phone

Source: Crexi

Added: May 24, 2022 Changed: Oct 1 Last Checked: Oct 5 at 5:28PM

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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 / Yr

$29,585

Cap Rate

4.38%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $29,585 @ 7.0% cap · market cap 4.38%

Second Best

Retail

$399.0K

$349.1K – $465.5K (±1% cap)

NOI $27,930 @ 7.0% cap · market cap 4.14%

Theoretical Best

Healthcare Medical

$430.1K

$376.3K – $501.8K (±1% cap)

NOI $30,105 @ 7.0% cap · market cap 4.46%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Commercial land

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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

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