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20485-20489 Mack Ave 3,263 SF 100% Leased Retail Building Grosse Pointe Woods, MI 48236 $585,000 ($179.28/SF) 11.28% Cap Rate
Investment Highlights
- Prime Mack Avenue multi-tenant commercial opportunity in a high-visibility, high-traffic corridor.
- Neighboring Lease Comps over $24/SF
- Currently configured for a single tenant —easily converted back to a two-unit layout
Executive Summary
Prime Mack Avenue multi-tenant commercial opportunity in a high-visibility, high-traffic corridor. Currently configured for a single tenant, the property offers exceptional flexibility—easily converted back to a two-unit layout to support multiple income streams. Ideal for an owner-user seeking full occupancy, partial occupancy with supplemental rental income, or investors targeting a rare multi-tenant asset in a premier retail location. Recent neighboring lease comps support rents around $24/SF NNN. The building features two separate HVAC systems (furnaces), separate utilities for each unit (water shared), and two restrooms (one per unit), allowing for straightforward division and independent operation. Positioned among national retailers including Starbucks, CVS, UPS, Kroger, Domino’s, and more, the site benefits from strong co-tenancy and consistent consumer traffic. A versatile asset with multiple paths to value—owner-user, split occupancy, or investment hold—located on one of Mack Avenue’s most sought-after commercial stretches.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$69,600
|
$21.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$69,600
|
$21.33
|
| Taxes |
-
|
-
|
| Operating Expenses |
$3,500
|
$1.07
|
| Total Expenses |
$3,500
|
$1.07
|
| Net Operating Income |
$66,100
|
$20.26
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $69,600 |
| Annual Per SF | $21.33 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $69,600 |
| Annual Per SF | $21.33 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $3,500 |
| Annual Per SF | $1.07 |
| Total Expenses | |
|---|---|
| Annual | $3,500 |
| Annual Per SF | $1.07 |
| Net Operating Income | |
|---|---|
| Annual | $66,100 |
| Annual Per SF | $20.26 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,263 SF
Building Class
B
Year Built
1954
Price
$585,000
Price Per SF
$179.28
Cap Rate
11.28%
NOI
$66,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.94
Lot Size
0.08 AC
Zoning
Commercial
Parking
6 Spaces (1.63 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Pointe Kitchen & Bath
- Manufacturing
- -
- -
- -
- -
-
- Wholesaler
- -
- -
- Triple Net
- -
Wilbur-Ellis was founded in 1921 by Brayton Wilbur, Floyd Ellis, and Thomas Franck as an import-export trading business in San Francisco. Over time, the company expanded into agricultural products, animal nutrition, and specialty chemicals, developing multiple operating divisions serving commercial and industrial markets. The company remains privately held and family owned, with ownership rooted in the founding families. The company operates through business segments including agribusiness, animal nutrition, specialty chemicals, and venture investment activities.
- The Ellis Group
- Professional, Scientific, and Technical Services
- -
- -
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Pointe Kitchen & Bath | Manufacturing | - | - | - | - | |
|
|
Wholesaler | - | - | Triple Net | - | |
| The Ellis Group | Professional, Scientific, and Technical Services | - | - | Triple Net | - |
Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 40-007-03-0041-001 | Total Assessment | $194,500 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
40-007-03-0041-001
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$194,500 (2025)
Annual Taxes
$0 ($0.00/SF)
Tax Year
2026
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20485-20489 Mack Ave