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    Two-Story Office/Showroom Flex Building Title is generated by Realmo AI

    15065 32 Mile Road, Romeo, MI 48065

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    For Lease
    $12,618/Mo $7 SF/Yr (calc)

    COMMERCIAL - Romeo, MI

    Property size:
    20,190 SF
    Lot size:
    1.00 Acre
    Added:
    Apr 14, 2025
    Days on Market:
    417
    Last Refresh:
    Jun 4 at 12:06 am

    Property Features for 15065 32 Mile Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    28-04-01-200-026
    Size
    20,190 SF
    Lot size
    1.00 Acre

    Utilities

    Water source
    Public

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Anthony Rubino
    Anthony Rubino

    Listing agent Anthony Rubino License #6502425251

    Listing office Pilot Property Group - Residential LLC 38600 Van Dyke Ste 325, Shelby Twp, MI

    Listing date Apr 14, 2025

    MLS# 50171318

    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

    • Two‑story front office/showroom with rear shop/warehouse for an industrial multi‑use layout
    • Newly renovated and ready for immediate occupancy
    • Year built: 2008
    • Parking lot on site
    • Public water service
    • Lease rate includes taxes and insurance; tenant pays snow removal/salting and utilities

    Overview

    This newly renovated flex building is designed for mixed-use operations, combining a two-story front office/showroom area with a rear shop/warehouse. The layout supports front-of-house functionality alongside a dedicated back-of-house workspace for storage or light distribution, with the building presented as ready for immediate occupancy.

    Located at 15065 32 Mile Road in Romeo, this Main Road industrial property emphasizes accessibility for business traffic. The offering is structured as a for-rent lease, and the lease rate includes taxes and insurance. Tenants are responsible for snow removal/salting and for utilities.

    For tenants seeking an all-in-one setup—office presence up front with warehouse and shop space in the rear—this configuration offers a practical way to manage day-to-day operations from a single building. The combination of office/showroom space and rear shop/warehouse space makes the property suitable for a range of multi-use requirements, with the lease terms clarifying what is included and what the tenant pays.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Gym & Fitness Center Auto Repair Shop Auto Parts Store Storage Facility HVAC Service Grocery & Convenience Store Car Rental Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Romeo
    County
    Macomb
    State
    Michigan
    Longitude
    -82.98098
    Latitude
    42.803952

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    FAQs

    What type of property is this?
    Flex space - Newly renovated flex space with a two-story front office/showroom and rear shop/warehouse, ready for immediate occupancy.
    Where is this flex space located?
    The property is located at 15065 32 Mile Road Romeo, MI.
    What is the lease rate?
    The lease rate is $12,618 /Mo.
    What are key features of this property?
    This property features: Two‑story front office/showroom with rear shop/warehouse for an industrial multi‑use layout; Newly renovated and ready for immediate occupancy; Year built: 2008
    (586) 873-5419
    We can help!
    Listing Contact
    Anthony Rubino
    Anthony Rubino
    Real Estate License ID: 6502425251
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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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    15065 32 Mile Road, Romeo, MI 48065
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