Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Former Fitness Space Available Title is generated by Realmo AI

    27202 Harper Ave, St Clair Shores, MI 48081

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

    Former group fitness space with Harper Avenue frontage.

    Type:Retail, Office
    Added:
    Feb 14, 2024
    Days on Market:
    818
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 27202 Harper Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1953

    Spaces For Lease

    at 27202 Harper Ave Contact us

    Available space $11 /Mo

    Size
    1 SF
    Type
    Retail, Office
    Contact us

    We can help!

    Listing Contact
    James Diehl
    James Diehl

    Listing agent James Diehl License #MI 6501368863

    Listing office Pilot Property Group

    Listing date Feb 14, 2024

    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 Pilot Property Group

    HighLights

    • Two large studios suitable for various purposes.
    • Harper Ave frontage and signage for high visibility.
    • Easy access to 696 and I‑94 highways.
    • Includes a waiting area, small office, and restroom.
    • Former group fitness space, potentially ready for similar use.
    • Year built: 1953

    Overview

    This commercial space, formerly used as a group fitness center, features a layout that includes a waiting area, a small office, a restroom, and two large studios. The property benefits from frontage and signage opportunities on Harper Avenue. It offers convenient access to both 696 and I-94 highways. Please note that the tenant will be responsible for snow removal and grass cutting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    St Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8968
    Latitude
    42.491433

    Nearby Similar for Lease

    • $3,500/Mo

      St. Clair Shores Commercial Building

      Commercial office/retail building in high-traffic, high-density area.
      31201 Jefferson Avenue, St. Clair Shores, MI 48082
      View Details
    • Contact for pricing

      Freestanding Restaurant Opportunity

      Well-maintained former restaurant with infrastructure in place.
      23700 Harper Ave, St. Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Standalone Commercial Building For Lease

      Well-positioned commercial building with strong visibility and easy access.
      22313 Greater Mack Ave, St. Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, approximately 3,200 square feet.
      23515 9 Mack Drive, St. Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Corner Property Near Medical Campus

      Prominent corner location near medical campus, suitable for various uses.
      29519 Harper Ave, St. Clair Shores, MI 48081
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail spaces available, ranging from 1,620 to 3,240 SqFt.
      22601 E 9 Mile Rd, St. Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Office Space For Rent

      Office space available for rent at 29820 Harper Avenue.
      29820 Harper Avenue, St. Clair Shores, MI 48082
      View Details
    • Contact for pricing

      St. Clair Shores Office Space

      Office space available for rent in St. Clair Shores.
      1016 & 24001 Greater Mack Ave, St. Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Freestanding Retail Building with Drive-Through

      Freestanding retail building with drive-through infrastructure on a corner lot.
      25501 Harper Ave, St. Clair Shores, MI 48081
      View Details
    • Contact for pricing

      Medical Space in St. Clair

      Medical office space available for lease in St. Clair.
      25515 Harper Ave, St. Clair Shores, MI 48081
      View Details
    • Contact for pricing

      Medical Office Space Available

      Customizable medical space with prominent signage on a bustling road.
      24715 Little Mack Ave, St. Clair Shores, MI 48080
      View Details
    • $180 SF/Yr

      Retail/Office Space on Harper Avenue

      Prime corner location with ample parking and new signage.
      28404 Harper Ave, St Clair Shores, MI 48081
      View Details

    FAQs

    What type of property is this?
    Retail space - Former group fitness space with Harper Avenue frontage.
    Where is this retail space located?
    The property is located at 27202 Harper Ave St Clair Shores, MI.
    What are key features of this property?
    This property features: Two large studios suitable for various purposes.; Harper Ave frontage and signage for high visibility.; Easy access to 696 and I‑94 highways.
    (586) 254-0900 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing James Diehl
    James Diehl
    Real Estate License ID: MI 6501368863
    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
    27202 Harper Ave, St Clair Shores, MI 48081
    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!