Established Grocery Store Business
For Sale
Contact for pricing
9959 Pulaski Rd, Hanover, MI 49241
Turnkey grocery store with real estate in Hanover, Michigan.
Property Size1,134 SF
Price / SF$132.27
Days on Market163
Property Features for 9959 Pulaski Rd
General Information
Standard status
Active
Size
1,134 SF
Class
D
Property subtype
Business for Sale, Retail
Building Details
Buildings
1
Units
1
Listing Agency:
New Michigan Realty
(702) 208-3341
Listed By:
Johny Thomas · License #6501433546
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Aug 7 at 6:14AM
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 New Michigan Realty
Investment Insights
Based on property information with market context.
Located in Hanover, Jackson County, Michigan, the property at 9959 Pulaski Rd presents an opportunity to acquire a business and the underlying real estate. Known as Pulaski Mall Grocery Store, this neighborhood market has served the surrounding community. The property features a fully operational grocery and convenience store with customer traffic, visibility, and access along Pulaski Road. The sale includes the business operations, fixtures, equipment, and real estate. The store serves as a community hub for groceries, convenience items, and everyday essentials. The property benefits from local demand and limited nearby competition. It presents an opportunity for continued grocery operations, expansion into specialty retail, or redevelopment of services tailored to the area’s needs. An SDD liquor license is available for purchase separately, offering potential through expanded product offerings and increased revenue streams. The property includes an established neighborhood grocery store with a customer base and a high visibility location. The property size is 1134 square feet.
Key Highlights
- Sale includes established grocery store and real estate.
- Turnkey operation with existing customer base, fixtures, and equipment.
- High‑visibility location** in Hanover, Jackson County, with limited competition.
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
$10,774
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
7.18%
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%
$215,480
$215.5K
Cap Rate 7%
$153,914
$153.9K
Cap Rate 9%
$119,711
$119.7K
Market Conditions
NOI Build-Up for 1,134 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
$15.6K $13.80/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$14.4K $12.67/SF
− OpEx
−$3.6K −$3.17/SF
NOI
$10.8K $9.50/SF
Area
Jackson County, MI
Vacancy
8.20%
Lease Rate
$13.80 /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%
$215,480
Cap Rate 7%
$153,914
Cap Rate 9%
$119,711
Alternative Uses
Best Use
Specialty Retail
$153.9K
$134.7K – $179.6K
NOI $10,774 @ 7.0% cap · market cap 7.18%
Second Best
Retail
$111.7K
$97.8K – $130.4K
NOI $7,821 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$181.0K
$158.4K – $211.2K
NOI $12,672 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 49241, MI
2,359
Population
915
Households
2.6
Avg Household Size
40
Median Age
25%
College-Educated
92%
High-School Grad
32.0 sq mi
ZIP Area
74
Density / Sq Mi
$81,471
Median Household Income
$37,245
Median Earnings
$1,031
Median Rent
$223,000
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?
Grocery and convenience store - Turnkey grocery store with real estate in Hanover, Michigan.
Where is this grocery and convenience store located?
The property is located at 9959 Pulaski Rd Hanover, MI.
What is the asking price?
The asking price for this property is $149,999.
What are key features of this property?
This property features: Sale includes established grocery store and real estate.; Turnkey operation with existing customer base, fixtures, and equipment.; High‑visibility location** in Hanover, Jackson County, with limited competition.
