46860 Gratiot Ave
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46860 Gratiot Ave
11,700 SF Retail Building Chesterfield, MI 48051 $1,200,000 ($103/SF) 5.50% Cap Rate
Investment Highlights
- 7,800 SF 1st floor showroom and shop space
- 9,000 SF gated exterior storage behind the building
- 13 parking spaces in front of building + additional overflow/employee parking in adjacent side lot
- 3,900 SF second floor administrative offices / Flex Space / Kitchen
- New roof in 2016, new HVAC in 2024
- 12,300 SF adjacent multi-tenant retail/flex building also available for sale by same owner
Executive Summary
A former motorsports dealership, this two story, 11,700 SF retail/flex building has excellent signage and visibility on one of Macomb County's major corridors in Chesterfield Twp. Has 10,000 sq ft gated outdoor storage behind building. Existing tenant triple-net lease. NOI = $60,000
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$60,000
|
$5.13
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $60,000 |
| Annual Per SF | $5.13 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
11,700 SF
Building Class
C
Year Built/Renovated
1973/2005
Price
$1,200,000
Price Per SF
$103
Cap Rate
5.50%
NOI
$66,000
Tenancy
Single
Building Height
2 Stories
Building FAR
0.37
Lot Size
0.72 AC
Zoning
C-3 General Commercial - The C-3 district is designed to provide for a wide diversity of business activities which are predominantly retail in character.
Parking
30 Spaces (2.56 Spaces per 1,000 SF Leased)
Frontage
78 FT on Gratiot Ave
Amenities
- 24 Hour Access
- Fenced Lot
- Pylon Sign
- Security System
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 15-09-31-126-029 | Improvements Assessment | $0 (2024) |
| Land Assessment | $0 (2024) | Total Assessment | $366,600 (2024) |
PROPERTY TAXES
Parcel Number
15-09-31-126-029
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$366,600 (2024)
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WES-LLS Holdings, LLC
46860 Gratiot Ave
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