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    Second-Floor Medical Office Suite Title is generated by Realmo AI

    23089 E Main Street, Armada, MI 48005

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    For Lease
    $2,500/Mo $10 SF/Yr (calc)

    COMMERCIAL - Armada, MI

    Property size:
    3,000 SF
    Lot size:
    0.10 Acres
    Added:
    Dec 15, 2025
    Days on Market:
    171
    Last Refresh:
    Jun 4 at 6:06 am

    Property Features for 23089 E Main Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Off Street
    Standard status
    Active
    APN
    25-02-24-151-032
    Size
    3,000 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9730

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2010

    We can help!

    Listing Contact
    John Bolos
    John Bolos

    Listing agent John Bolos License #6501444335

    Listing office Century 21 Professionals 48680 Van Dyke, MI

    Listing date Dec 15, 2025

    MLS# 50196148

    Copyright © 2026 Multiple Listing Service MiRealSource. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Approximately 3,000 SF second‑floor commercial suite in downtown Armada
    • Bright, open layout with approximately 16–20‑foot ceilings and elevator access
    • Private restrooms included in the suite
    • Central air conditioning and forced‑air heating
    • Off‑street parking and public water source

    Overview

    Position your business at 23089 E Main Street in downtown Armada with a second-floor commercial suite designed for professional client traffic. The space offers approximately 3,000 square feet of usable area and is configured to support a bright, open work environment.

    Inside, the suite features 16–20-foot ceilings and private restrooms, along with convenient elevator access for tenants and clients. The building also presents a storefront presence that supports visibility from E Main Street.

    This layout is well suited to medical and wellness practices and can accommodate other professional and commercial uses consistent with an office setting. With its combination of high ceilings, dedicated restroom facilities, and direct elevator service, the suite offers a practical option for providers or teams seeking a centrally located downtown space in Armada.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Armada
    County
    Macomb
    State
    Michigan
    Longitude
    -82.883468
    Latitude
    42.844159

    Nearby Similar for Lease

    • $2,300/Mo
      2,500 SF

      Second-Floor Office Suite

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      23091 E Main Street, Armada, MI 48005
      View Details
    • $8 SF/Yr
      41,580 SF

      Industrial Warehouse Space Available

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      Manufacturing Building with Road Frontage

      Manufacturing building with main road frontage, sale possible.
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    FAQs

    What type of property is this?
    Medical Office Space - Bright second-floor suite with 16–20-foot ceilings, private restrooms, and elevator access for client-facing medical or office use.
    Where is this medical office space located?
    The property is located at 23089 E Main Street Armada, MI.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: Approximately 3,000 SF second‑floor commercial suite in downtown Armada; Bright, open layout with approximately 16–20‑foot ceilings and elevator access; Private restrooms included in the suite
    (586) 557-9781
    We can help!
    Listing Contact
    John Bolos
    John Bolos
    Real Estate License ID: 6501444335
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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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