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    1161 E Clark Rd Dewitt, MI 48820

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    For Lease
    Contact for pricing

    Former factory outlet center on a 35-acre site.

    Type:Retail, Office
    Property size:
    228,387 SF
    Lot size:
    35.00 Acres
    Added:
    Jan 28, 2023
    Days on Market:
    1178
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 1161 E Clark Rd

    General Information

    Standard status
    Active
    Size
    228,387 SF
    Lot size
    35.00 Acres
    Property subtype
    Retail, Office

    Spaces For Lease

    at 1161 E Clark Rd Contact us

    Suite 156 $12 /Mo

    Size
    2,477 SF
    Type
    Office
    Previous tenant had Physical Therapy businessnOpen floor plan
    Contact us

    Suite 166 $12 /Mo

    Size
    9,392 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 224 $12 /Mo

    Size
    3,067 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 162 $12 /Mo

    Size
    3,489 SF
    Type
    Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 176 $12 /Mo

    Size
    1,815 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 216 $12 /Mo

    Size
    2,000 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 160 $12 /Mo

    Size
    2,400 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 114 $12 /Mo

    Size
    4,508 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 202 $12 /Mo

    Size
    1,011 SF
    Type
    Office
    Contact us

    Suite 144 $12 /Mo

    Size
    3,962 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 320 $12 /Mo

    Size
    9,262 SF
    Type
    Office
    Contact us

    Suite 150 $12 /Mo

    Size
    3,501 SF
    Type
    Retail, Office
    Contact us

    Suite 260 $12 /Mo

    Size
    6,069 SF
    Type
    Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 152 $12 /Mo

    Size
    2,916 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 212 $12 /Mo

    Size
    5,014 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 226 $12 /Mo

    Size
    4,973 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us

    Suite 310 $12 /Mo

    Size
    7,985 SF
    Type
    Retail, Office
    Contact us

    Suite 116 $12 /Mo

    Size
    1,609 SF
    Type
    Retail, Office
    Three buildings comprising 228,387 sf on a 35 acre site. 40 acres of adjacent land...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Jim Rundell

    Listing agent Jim Rundell License #6502329919

    Listing office Eyde Company

    Listing date Jan 28, 2023

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Eyde Company

    Overview

    Redevelopment Site Available For Rent

    This former factory outlet center features three buildings totaling 228,387 square feet, situated on a 35-acre site. The property is located in DeWitt, MI. The site is suitable for redevelopment into a 'Gathering Place' or 'Towne Square'.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Studio 517 Dance ... Training Center Laura Blemaster Medical Clinic John Lehman Physician Kristin Nederveld Deppen Physician Ivy Rehab for Kids Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Dewitt
    County
    Clinton
    State
    Michigan
    Longitude
    -84.540171
    Latitude
    42.815009

    Nearby Similar for Lease

    • $10/mo

      Turnkey Call Center Sublease

      Pristine, never-used 9,002 SF call center with modern buildout.
      1161 E Clark Road unit: 340, DeWitt, MI 48820
      View Details
    • Contact for pricing

      Turnkey Call Center Sublease

      State-of-the-art call center with brand-new buildout, ready for occupancy.
      1161 East Clark Road, DeWitt, MI 48820
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      12821 Crossover Dr, DeWitt, MI 48820
      View Details
    • Contact for pricing

      Industrial Single Tenant Warehouse Space

      2,500 SqFt industrial space available for single tenant.
      16410 Grove Rd, DeWitt, MI 48820
      View Details
    • Contact for pricing

      Prime Commercial Property in DeWitt

      Commercial property for lease in the heart of DeWitt, MI.
      13157 Schavey Rd, DeWitt, MI 48820
      View Details

    FAQs

    What type of property is this?
    Commercial land - Former factory outlet center on a 35-acre site.
    Where is this commercial land located?
    The property is located at 1161 E Clark Rd Dewitt, MI.
    What are key features of this property?
    This property features: Fantastic site on 35 acres suitable for redevelopment; Former Factory Outlet Center with three buildings; Total building area of 228,387 sf
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jim Rundell
    Real Estate License ID: 6502329919
    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.

    More about this property
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