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    Second-Floor Office Suite Title is generated by Realmo AI

    23091 E Main Street, Armada, MI 48005

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    For Lease
    $2,300/Mo $11 SF/Yr (calc)

    COMMERCIAL - Armada, MI

    Property size:
    2,500 SF
    Lot size:
    0.10 Acres
    Added:
    Dec 15, 2025
    Days on Market:
    171
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for 23091 E Main Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Off Street
    Standard status
    Active
    APN
    25-02-24-151-032
    Size
    2,500 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9730

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2010

    We can help!

    Listing Contact
    John Bolos
    John Bolos

    Listing agent John Bolos License #6501444335

    Listing office Century 21 Professionals 48680 Van Dyke, MI

    Listing date Dec 15, 2025

    MLS# 50196149

    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

    • About 2,500 SF second‑floor usable commercial suite available for gross lease in downtown Armada
    • Bright, open layout with 16–20 ft ceilings and convenient elevator access
    • Private restrooms included in the suite
    • Central air and forced‑air heating; built in 2010
    • Off‑street parking available with spaces in front of the building, along the side, and within one block via free municipal lots
    • Minimum 3‑year lease required

    Overview

    Available for gross lease, this approximately 2,500-square-foot second-floor commercial suite is designed for a flexible mix of service and professional uses. The space is bright and open, with impressive 16–20 ft ceilings, private restrooms, and convenient elevator access for tenant and client comfort.

    The suite is positioned with high-visibility storefront presence along E Main Street in Armada, MI. Parking is available for customers and staff directly in front of the building, along the side, and within about one block through free municipal lots, with layout reference images available.

    The configuration supports businesses that benefit from a polished, adaptable environment, including medical or wellness practices and office-oriented uses such as CPAs, law firms, real estate/title companies, and creative or studio operations. A minimum 3-year lease is required. For additional details or to review the parking layout reference images, schedule a private tour.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Armada
    County
    Macomb
    State
    Michigan
    Longitude
    -82.883573
    Latitude
    42.844212

    Nearby Similar for Lease

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      3,000 SF

      Second-Floor Medical Office Suite

      Bright second-floor suite with 16–20-foot ceilings, private restrooms, and elevator access for client-facing medical or office use.
      23089 E Main Street, Armada, MI 48005
      View Details
    • $8 SF/Yr
      41,580 SF

      Industrial Warehouse Space Available

      41,580 SF warehouse space for lease in Armada, Michigan.
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      View Details
    • Contact for pricing

      Manufacturing Building with Road Frontage

      Manufacturing building with main road frontage, sale possible.
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    FAQs

    What type of property is this?
    Office units - Bright office suite with 16–20 ft ceilings, private restrooms, and elevator access for professional and service-based tenants.
    Where is this office units located?
    The property is located at 23091 E Main Street Armada, MI.
    What is the lease rate?
    The lease rate is $2,300 /Mo.
    What are key features of this property?
    This property features: About 2,500 SF second‑floor usable commercial suite available for gross lease in downtown Armada; Bright, open layout with 16–20 ft ceilings and convenient elevator access; Private restrooms included in the suite
    (586) 557-9781
    We can help!
    Listing Contact
    John Bolos
    John Bolos
    Real Estate License ID: 6501444335
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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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