Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Condo with Natural Light Title is generated by Realmo AI

    40831 HIGHPOINTE Drive, Clinton Township, MI 48038

    View on Map
    Claim this Listing
    For Sale
    $159,900

    Bright, clean 2-bedroom condo with open layout and ample storage.

    Type:Condo/Townhome
    Property size:
    1,250 SF
    Price / SF:
    $127/SF
    Added:
    Nov 8, 2024
    Days on Market:
    566
    Last Refresh:
    May 20 at 12:03 am

    Property Features for 40831 HIGHPOINTE Drive

    General Information

    Standard status
    Active
    Size
    1,250 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    Erick Monzo

    Listing agent Erick Monzo License #6501330189

    Listing office Keller Williams Realty-Great Lakes

    Listing date Nov 8, 2024

    Source Exitrealty

    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 Keller Williams Realty-Great Lakes

    HighLights

    • Move‑in ready condition
    • Spacious 2‑bedroom layout
    • Open‑concept living and dining areas with ample natural light
    • Low‑maintenance living
    • Generously sized bedrooms with ample closet space
    • Suitable for first‑time buyers or downsizers

    Overview

    This residential income property features a bright and spacious condo with 2 bedrooms and 1.5 bathrooms. The unit, with a total size of 1250 square feet, offers a comfortable layout suitable for both relaxation and entertaining. The open-concept living and dining areas benefit from plenty of natural light, creating an inviting atmosphere. Both bedrooms are generously sized and include ample closet space for storage. The property is move-in-ready and offers low-maintenance living.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $130.4K
    NOI $11,739 @ 9.00% cap · cautious / downside scenario
    Moderate
    $167.7K
    NOI $11,739 @ 7.00% cap · market / base-case scenario
    Aggressive
    $234.8K
    NOI $11,739 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $23.0k $18.36
    − Vacancy −$1.6k −$1.29
    EGI $21.3k $17.07
    − OpEx −$9.6k −$7.68
    NOI $11.7k $9.39
    1,250 SF · lease $18.36/SF/yr · vacancy 7.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $167.7K
    $146.7K – $195.7K (±1% cap)
    NOI $11,739 @ 7.0% cap · market cap 7.34%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $234.0K
    $204.8K – $273.0K (±1% cap)
    NOI $16,381 @ 7.0% cap · market cap 10.24%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.965065
    Latitude
    42.59679

    Nearby Similar for Sale

    • $1,299,900
      6,655 SF

      Medical/General Office Building For Sale

      Stand-alone office building with high visibility and expansion potential.
      37244 S Groesbeck, Clinton Township, MI 48036
      View Details
    • $1,650,000
      14,807 SF

      Versatile Industrial Flex Facility

      14,807 SF industrial flex facility on 1.89 acres.
      44595 Enterprise Drive, Clinton Township, MI 48038
      View Details
    • $1,400,000
      9,755 SF

      Commercial/Industrial Building in Clinton Township

      Multi-use commercial building with high traffic and ample parking.
      35850 Utica, Clinton Township, MI 48035
      View Details
    • $575,000
      10,995 SF

      Former Gym in Clinton Township

      Former gym with open floor plan and ample parking.
      34736 S Gratiot, Clinton Township, MI 48035
      View Details
    • $1,150,000
      10,000 SF

      Industrial Property Near I-94

      Well-kept industrial building near I-94, suitable for owner occupant or investment.
      35075 Forton, Clinton Township, MI 48035
      View Details
    • $199,900
      3,640 SF

      Established Cake Decorating Supply Business

      Family-owned business since 1974 with high gross sales!
      44885 Morley, Clinton Township, MI 48036
      View Details
    • $100,000
      1,200 SF

      Established Pizzeria and Deli Business

      Well-established pizzeria and deli business opportunity in Clinton Township, MI.
      36450 Moravian Drive, Clinton Township, MI 48035
      View Details
    • $1,650,000
      14,807 SF

      Macomb County Industrial Flex Facility

      Versatile 14,807 SF industrial flex facility on 1.89 acres.
      44595 Enterprise Dr, ClintonCharterTownship_Macomb, MI 48038
      View Details
    • $165,000
      1,640 SF

      Clinton Township Duplex For Sale

      Two-unit duplex with separate entrances and long-term tenant.
      20471 Nicke, Clinton Township, MI 48035
      View Details
    • $398,769
      7,000 SF

      Redevelopment Opportunity on Laurel Street

      7,000 SF building on 2.9 acres, ideal for redevelopment.
      22515 Laurel St, ClintonCharterTownship_Macomb, MI 48035
      View Details
    • $30,000
      3,200 SF

      Established Restaurant Business Opportunity

      Turnkey restaurant business for sale in high-traffic Clinton Township.
      34380 Harper Avenue, Clinton Township, MI 48035
      View Details
    • $699,999
      13,678 SF

      Gratiot Avenue Retail Center

      Retail center with storage building on Gratiot Avenue.
      36439-36463 S. Gratiot Ave, Clinton Township, MI 48035
      View Details

    FAQs

    What type of property is this?
    Residential income property - Bright, clean 2-bedroom condo with open layout and ample storage.
    Where is this residential income property located?
    The property is located at 40831 HIGHPOINTE Drive Clinton Township, MI.
    What is the asking price?
    The asking price for this property is $159,900.
    What are key features of this property?
    This property features: Move‑in ready condition; Spacious 2‑bedroom layout; Open‑concept living and dining areas with ample natural light
    (586) 210-3350
    We can help!
    Listing Contact
    Erick Monzo
    Real Estate License ID: 6501330189
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    40831 HIGHPOINTE Drive, Clinton Charter Township, MI 48038
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!