Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Outlot Retail Center Space Title is generated by Realmo AI

    23 Mile & M-53, Shelby Township, MI 48315

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in front of Super Wal-Mart.

    Type:Retail
    Added:
    Jul 6, 2020
    Days on Market:
    2138
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 23 Mile & M-53

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 23 Mile & M-53 Contact us

    Available Space 1 $35 /Mo

    Size
    1,500 SF
    Type
    Retail
    ASKING RENT: $35 psf NNN (NNNs = $10 psf)
    Contact us

    We can help!

    Listing Contact
    JJ Schmidt

    Listing agent JJ Schmidt License #MI 6502128259

    Listing office Marlin Properties

    Listing date Jul 6, 2020

    Source Crexi

    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 Marlin Properties

    HighLights

    • Signalized intersection location
    • Outlot retail center
    • Anchored by Super Wal‑Mart
    • Tenant mix includes Starbucks
    • Tenant mix includes Sprint
    • Tenant mix includes Sally Beauty

    Overview

    This retail space is located in an outlot retail center at a signalized intersection. The center includes tenants such as Starbucks, Sprint, Sally Beauty, Game Stop, Great Clips, and Jersey Mike's. It is positioned in front of a Super Wal-Mart.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Shelby Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9952
    Latitude
    42.673

    Nearby Similar for Lease

    • $3,000/Mo

      Shelby Office Space For Rent

      2,000 SF office space with private offices and conference room.
      47100 Schoenherr, Shelby, MI 48315
      View Details
    • Contact for pricing

      Shelby Township Industrial Space

      Industrial space available for lease in Shelby Township, Michigan.
      50845 Rizzo Dr, Shelby Township, MI 48315
      View Details
    • $9 SF/Yr

      Shelby Township Industrial Space Available

      Industrial space for lease in Shelby Township, Michigan.
      50845 Rizzo Dr, Shelby Township, MI 48315
      View Details
    • $9 SF/Yr

      Industrial Space in Danview Technology Park

      45,381 SF industrial space with office and shop areas.
      51360 Danview Technology Court | Shelby Township, MI 48315, MI 48315
      View Details
    • $25 SF/Yr

      Hall Road Retail Space Available

      Retail space with high visibility and strong retail synergy.
      13987 Hall Rd, Shelby Township, MI
      View Details
    • Contact for pricing

      Restaurant & Sports Bar Opportunity

      Restaurant & Sports Bar available for sale or lease.
      15133 Hall Road | Shelby Township, MI 48315
      View Details
    • $9 SF/Yr

      Industrial Building in Shelby Township

      45,852 SF industrial building with customizable office space.
      51865 Danview Technology Ct., Shelby Township, MI 48315
      View Details
    • $20 SF/Yr

      Retail/Medical Space Available

      2,350 SF in-line space, built-out medical. Available March 2026.
      47053 Hayes, Shelby Township, MI
      View Details
    • $35 SF/Yr

      New Retail Center End Cap

      Newly developed retail space with potential drive-thru in Shelby.
      56261-56293 Van Dyke Ave, Shelby Township, MI
      View Details
    • Contact for pricing

      Industrial Development on 47 Acres

      Corporate class industrial development with build-to-suit opportunities for lease.
      14670 23 Mile Road, Shelby Township, MI 48315
      View Details
    • $15 SF/Yr

      Shelby Township Office Space Available

      Office space available for lease in Shelby Township, Michigan.
      47742 Van Dyke Ave, Shelby Township, MI
      View Details
    • Contact for pricing

      Retail/Office Space on 23 Mile

      Retail and office spaces available on a busy corridor.
      12745 23 Mile Rd, Shelby Township, MI 48315
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in front of Super Wal-Mart.
    Where is this retail space located?
    The property is located at 23 Mile & M-53 Shelby Township, MI.
    What are key features of this property?
    This property features: Signalized intersection location; Outlot retail center; Anchored by Super Wal‑Mart
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    JJ Schmidt
    Real Estate License ID: MI 6502128259
    Learn More
    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
    23 Mile & M-53, Shelby Township, MI 48315
    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!