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    Madison Heights Commercial Lease Opportunity Title is generated by Realmo AI

    1450 W 13 Mile Road, Madison Heights, MI 48071

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    For Lease
    $14,000/Mo $28 SF/Yr (calc)

    Real Estate Only - Madison Heights, MI

    Property size:
    5,932 SF
    Lot size:
    0.52 Acres
    Added:
    Nov 3, 2025
    Days on Market:
    194
    Last Refresh:
    May 16 at 9:06 pm

    Property Features for 1450 W 13 Mile Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    2502377004
    Size
    5,932 SF
    Lot size
    0.52 Acres

    Building Details

    Year built
    1959
    Floors in Building
    1
    Building materials
    Block, Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Rrok Koleci

    Listing agent Rrok Koleci

    Listing office RK Real Estate LLC 54790 Mound Rd, Shelby Township, MI

    Listing date Nov 3, 2025

    MLS# 20251051202 Listing URL

    Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime corner location at 13 Mile & Stevenson in Madison Heights, near residential areas and commercial businesses with easy freeway access.
    • 5,900+ sq ft multi‑tenant space with flexible subdivision options for long‑term leases.
    • Equipped with restaurant hoods, suitable for various food concepts (full‑service, fast‑casual, specialty foods).
    • Former liquor store ready for immediate use or redevelopment.
    • Opportunity for restaurant, food hall, mixed‑use, or retail with dining concepts.
    • No immediate food competitors nearby, offering strong market entry potential.

    Overview

    This commercial space, located in Madison Heights, Michigan, offers a multi-tenant opportunity with over 5,900 square feet available for lease. The space is suitable for a brand-new restaurant, food hall, or mixed-use concept. Flexible options exist to subdivide the space, and the former liquor store is equipped with restaurant hoods, making it ready for various concepts, from full-service or fast-casual restaurants to specialty foods or retail with dining. The property is situated at the corner of 13 Mile and Stevenson, offering a prime location near residential areas with easy access to commercial businesses and nearby freeways. The location benefits from a lack of immediate food competitors, potentially creating a strong market entry. The landlord is open to subdividing the space, provided there is a long-term lease commitment. The property is located on a 0.52-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Oakland
    State
    Michigan
    Longitude
    -83.103
    Latitude
    42.508

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    FAQs

    What type of property is this?
    Restaurant - Multi-tenant space ideal for restaurant, food hall, or mixed-use.
    Where is this restaurant located?
    The property is located at 1450 W 13 Mile Road Madison Heights, MI.
    What is the lease rate?
    The lease rate is $14,000 /Mo.
    What are key features of this property?
    This property features: Prime corner location at 13 Mile & Stevenson in Madison Heights, near residential areas and commercial businesses with easy freeway access.; 5,900+ sq ft multi‑tenant space with flexible subdivision options for long‑term leases.; Equipped with restaurant hoods, suitable for various food concepts (full‑service, fast‑casual, specialty foods).
    (586) 873-5537
    We can help!
    Listing Contact
    Rrok Koleci
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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