Brick Retail/Office
For Sale
$239,000
21720 15 Mile Rd, Clinton Township, MI 48035
Built in 1992 with brick construction and ample parking, this B-1 property offers retail or office flexibility.
Property Size1,668 SF
Lot Size1.06 Acres
Price / SF$143.29
Days on Market183
Property Features for 21720 15 Mile Rd
General Information
Standard status
Active
Size
1,668 SF
Total Parking Spaces
15
Lot size
1.06 Acres
Zoning
B-1
Building Details
Year Built
1992
Listing Agency:
Detroit Metro Realty
Listed By:
Kingsley Ifezue · License #6502412737
(855) 205-6999
Source:
Sellinghomesinmichigan
Added: Apr 24
Changed: Oct 8
Last Checked: Oct 6 at 12:54AM
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 Detroit Metro Realty
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Investment Insights
Based on property information with market context.
This 1,668 SF brick retail/office building was built in 1992 and sits on a 1.06-acre parcel. The property offers flexible use as a retail or professional workspace within a B-1 zoning designation, supported by modern utilities and on-site parking for 15 vehicles.
Positioned in a high-visibility corridor at Gratiot & Kentucky in Clinton Charter Township, the site offers 277’ of frontage and easy access. The surrounding retail environment includes national anchors such as Lowe’s and Sherwin-Williams, with a newly built Meijer listed as coming soon.
For tenant fit, the building is well-suited to an owner-user or investor looking for a brick commercial asset in Macomb County, with demographic support described as approximately 95,000 residents and $75,000 average household income within a 3-mile radius.
Positioned in a high-visibility corridor at Gratiot & Kentucky in Clinton Charter Township, the site offers 277’ of frontage and easy access. The surrounding retail environment includes national anchors such as Lowe’s and Sherwin-Williams, with a newly built Meijer listed as coming soon.
For tenant fit, the building is well-suited to an owner-user or investor looking for a brick commercial asset in Macomb County, with demographic support described as approximately 95,000 residents and $75,000 average household income within a 3-mile radius.
Key Highlights
- 1,668 SF retail/office building built in 1992 with brick construction
- 1.06‑acre parcel with 277' of frontage on the Gratiot & Kentucky corridor
- B‑1 zoned property suitable for retail or professional use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,330
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,600
$246.6K
Cap Rate 7%
$176,143
$176.1K
Cap Rate 9%
$137,000
$137.0K
Market Conditions
NOI Build-Up for 1,668 SF
Gross rent
$20.0K $12.00/SF
− Vacancy
−$2.4K −$1.44/SF
EGI
$17.6K $10.56/SF
− OpEx
−$5.3K −$3.17/SF
NOI
$12.3K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$246,600
Cap Rate 7%
$176,143
Cap Rate 9%
$137,000
Alternative Uses
Best Use
Retail
$176.1K
$154.1K – $205.5K
NOI $12,330 @ 7.0% cap · market cap 5.16%
Second Best
Office B
$82.0K
$71.8K – $95.7K
NOI $5,742 @ 7.0% cap · market cap 2.40%
Theoretical Best
Specialty Retail
$312.3K
$273.2K – $364.3K
NOI $21,859 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
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Business Placement
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Built in 1992 with brick construction and ample parking, this B-1 property offers retail or office flexibility.
Where is this office unit located?
The property is located at 21720 15 Mile Rd Clinton Township, MI.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 1,668 SF retail/office building built in 1992 with brick construction; 1.06‑acre parcel with 277' of frontage on the Gratiot & Kentucky corridor; B‑1 zoned property suitable for retail or professional use
