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Property profile & analytics
FOR SALE
Grocery and convenience stores
209 Northbound Gratiot Ave Mount Clemens, MI 48043
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1093448
$550,000
209 Northbound Gratiot Ave, Mount Clemens, MI 48043
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1987
Total area
5,529 SF
Lot
0.55 ac (23,784 SF)
Zoning code
GC
APN
05-11-11-477-021
UPID
US43-1093448
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$576k
Blend (final)
Blend
$575k
Owner & transaction history
Ws Gratiot Properties LLC · 10 yrs held
Ws Gratiot Properties LLC
since 2015
4 recorded transactions
Zoning & alternative use
GC · Mount Clemens, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Commercial/Office (MU, GC) Major Major Minor Major Central Business (CB) Minor - - Industrial (I-1, I-2) Major Major Minor Minor 1 In instances where a "protected use" is developed adjacent to and after the use which is intended to provide the screening, the "protected use" shall provide the required screening. H. Prohibited Materials. Where a landscape plan…
Zone name
General Commercial
General category
COMMERCIAL
Zone area
175.77 ac
Source
code of ordinances
Top alternative use upside
Restaurant
$785,000
+62.2%
Medical building
$680,000
+40.5%
Commercial (general)
$570,000
+17.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mount Clemens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Clemens submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$485,000
Current use
RESTAURANT
$785,000
Change: +62% · Conversion: Easy
MEDICAL BUILDING
$680,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$570,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$475,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$104 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$12,363
Tax year 2022
Assessed value
$222,900
Assessed 2023
Previous assessed
$213,500
+4.4% YoY
Effective rate
5.55%
On assessed value
Total market value
$445,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1987
Heating
FORCED AIR
Stories
1
Total area
5,529 SF
Lot
0.55 ac (23,784 SF)
Zoning code
GC
APN
05-11-11-477-021
UPID
US43-1093448
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
GC · Mount Clemens, MIZoning GC · permitted uses
GC · Mount Clemens, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Commercial/Office (MU, GC) Major Major Minor Major Central Business (CB) Minor - - Industrial (I-1, I-2) Major Major Minor Minor 1 In instances where a "protected use" is developed adjacent to and after the use which is intended to provide the screening, the "protected use" shall provide the required screening. H. Prohibited Materials. Where a landscape plan is required, the following plant materials are specifically prohibited: Black Walnut Cottonwood Ribes (Gooseberry) Boxelder Fruit-bearing Trees Soft maple (red, silver) Catalpa Horse Chestnut (nut bearing) Tree of Heaven Chinese or Siberian Elm Mountain Ash Willow Chokecherry Mulberry All thorned trees and shrubs I. Plant Material Species and Size Requirements. 1. Plant material species include, but are not limited to, the following: a. Evergreens. Fir, spruce, pine, Douglas fir, red cedar, arborvitae, and juniper (selected varieties). b. Large Deciduous Trees. Oak, maple, beech, linden, ash, gingko (male only), honey locust (seedless, thornless), birch, and sycamore. c.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
175.77 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$485,000
RESTAURANT
Est. value
$785,000
MEDICAL BUILDING
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$475,000
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Heating
FORCED AIR
Stories
1
Lot
0.55 ac
Current owner
From public records · entity-resolved
Ws Gratiot Properties LLC
Entity
Free & Clear · 10 yrs held
Mailing address
5271 RIV BLOSSOM LN, FORT DENAUD, FL 33935-0604
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2018
—
Ws Gratiot Properties LLC
—
Deed
related
$300,000 · Pnc Bank NA
Aug 20, 2015
—
Ws Gratiot Properties LLC
Setto,otoor
Quit Claim Deed
related
—
Aug 20, 2015
$125,000
Ws Gratiot Properties LLC
Signature Associates INC
Grant Deed
—
Jan 9, 2006
—
Mikdad Setto
G & S Investments INC
Quit Claim Deed
related
$350,000 · Business Loan Center LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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