Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8070 21 Mile Rd Utica, MI 48317

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,600 /Mo

    Recently updated, move-in ready space suitable for various business types.

    Lot size:
    1.00 Acre

    Property Features for 8070 21 Mile Rd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.00 Acre

    Building Details

    Year built
    1995

    We can help!

    Listing Contact
    Franca Calagna
    Source: Elliman

    Listing Agent: Franca Calagna

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

    Learn more

    Overview

    Versatile Space for Office/Retail/Medical

    This recently updated property offers 1265 square feet of versatile space suitable for office, medical, or retail use. It is move-in ready for your business. The layout features convenient front and back exit doors, along with two 5-foot front windows that allow for plenty of natural light. Strategically situated in a central location, the property provides easy access to a parking lot coded commercial C-2 with 15210 parking spaces. Current tenants include a spa, accountant, counseling office, and weight loss center. A short-term lease option is available. The property is located next to CVS and across from Tim Horton's.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0526
    Latitude
    42.6466

    Nearby Similar for Lease

    • $3,726 /Mo
      1,600 SF

      Retail/Medical Units in Utica, MI

      Approved site for retail and medical units with drive-thru.
      51921 Van Dyke Ave, Utica, MI 48316
      View Details
    • $495 /Mo
      108 SF

      Professional Office Space For Lease

      Office space for lease in Utica, Michigan. Includes gas/electric.
      11255 Hall Rd, Utica, MI 48317
      View Details
    • $6,000 /Mo

      Prime Retail Space Available

      Spacious retail space with upgrades in a vibrant location.
      49562 Van Dyke Ave, Utica, MI 48317
      View Details
    • $5,500 /Mo

      Retail Drive-Thru with Seating

      Prime retail space with drive-thru and outside seating available.
      48075 Van Dyke Ave, Utica, MI 48317
      View Details
    • $2,250 /Mo

      Hall Road Retail Space Available

      Newly renovated retail space in high-traffic Utica location.
      11195 Hall Rd, Utica, MI 48317
      View Details
    • $1,350 /Mo

      Shelby Township Office/Retail Space

      Office/retail space suitable for various professional services.
      5100 Twenty Three Mile Rd, Utica, MI 48316
      View Details
    • $495 /Mo

      Professional Office Space For Rent

      Professional office space available in a bi-level building.
      11255 Hall Rd, Utica, MI 48317
      View Details
    • $1,300 /Mo
      Pending

      Van Dyke Retail/Office Space

      Retail or office space available on Van Dyke Avenue.
      46731 Van Dyke Ave, Utica, MI 48317
      View Details
    • $1,400 /Mo

      Retail Space on Van Dyke

      Retail space available in a busy shopping strip.
      47501 Van Dyke Ave, Utica, MI 48317
      View Details
    • $1,350 /Mo

      Shelby Township Office/Retail Space

      Office or retail space available for lease in Shelby Township.
      5102 Twenty Three Mile Rd, Utica, MI 48316
      View Details
    • $5,500 /Mo

      Retail Space with Drive-Thru

      Retail space with approved plans for dry-thru and seating.
      48081 Van Dyke Ave, Utica, MI 48317
      View Details
    • $4,288 /Mo

      Former Brewery Retail Space Available

      Retail space with open floor plan in high-traffic location.
      52033 Van Dyke Ave, Utica, MI 48316
      View Details

    FAQs

    What type of property is this?
    Office units - Recently updated, move-in ready space suitable for various business types.
    Where is this office units located?
    The property is located at 8070 21 Mile Rd Utica, MI.
    What is the lease rate?
    The lease rate is $1,600 /Mo.
    What are key features of this property?
    This property features: - Move-in ready condition suitable for office, medical, or retail use; - Central location with easy access to a large commercial parking lot (15210 spaces); - Versatile 1265 sq ft space
    (586) 405-5700
    Request Owner's contact information
    8070 21 Mile Rd Utica, MI 48317
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8070 21 Mile Rd
    Utica, MI 48317
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    8070 21 Mile Rd Utica, MI 48317
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Franca Calagna
    Real Estate License ID: MISPE-6501264895
    (586) 405-5700 (586) 323-7000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!