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    Second-Floor Office Suite Title is generated by Realmo AI

    17029 KERCHEVAL Road, Grosse Pointe, MI 48230

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    For Lease
    $550/Mo $22 SF/Yr (calc)

    COMMERCIAL - Grosse Pointe, MI

    Property size:
    297 SF
    Added:
    Oct 22, 2025
    Days on Market:
    226
    Last Refresh:
    Jun 4 at 6:06 pm

    Property Features for 17029 KERCHEVAL Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    00000000
    Size
    297 SF

    Utilities

    Water source
    Public

    Building Details

    Year built
    1998

    We can help!

    Listing Contact
    Dean J. Sine
    Dean J. Sine

    Listing agent Dean J. Sine License #6502365517

    Listing office Sine & Monaghan LLC 18412 Mack Ave, Grosse Pointe Farms, MI

    Listing date Oct 22, 2025

    MLS# 50192198

    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

    • Second‑floor single office suite in a well‑maintained storefront building built in 1998
    • Located on Kercheval Avenue in Grosse Pointe’s village district
    • Front and rear parking available for tenant and client access
    • Gross lease structure with an all‑inclusive rent arrangement

    Overview

    Located at 17029 Kercheval Road in Grosse Pointe, this second-floor office suite is positioned within a well-maintained storefront building. The space is designed to provide a professional, private workplace while still benefiting from the building’s established presence on the avenue. With a gross lease structure, tenants receive a clean, all-inclusive rent arrangement. The suite measures approximately 297 square feet.

    The suite is set in the heart of the village district, with access supported by both front and rear parking for clients and staff. The surrounding area features a mix of retail, dining, and professional services, creating an active commercial block for visiting clients and everyday business needs.

    This suite is well suited for a single professional practice or office operation seeking a compact, ready-to-occupy location in a storefront environment. The combination of second-floor privacy, convenient parking options, and an all-inclusive gross lease can simplify occupancy planning for qualified tenants.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Grosse Pointe
    County
    Wayne
    State
    Michigan
    Longitude
    -82.916639
    Latitude
    42.390128

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    FAQs

    What type of property is this?
    Office units - Second-floor office suite in a storefront building with front and rear parking and an all-inclusive gross lease.
    Where is this office units located?
    The property is located at 17029 KERCHEVAL Road Grosse Pointe, MI.
    What is the lease rate?
    The lease rate is $550 /Mo.
    What are key features of this property?
    This property features: Second‑floor single office suite in a well‑maintained storefront building built in 1998; Located on Kercheval Avenue in Grosse Pointe’s village district; Front and rear parking available for tenant and client access
    (313) 550-5335
    We can help!
    Listing Contact
    Dean J. Sine
    Dean J. Sine
    Real Estate License ID: 6502365517
    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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    17029 KERCHEVAL Road, Grosse Pointe, MI 48230
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