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    Completely Renovated Office Suite Title is generated by Realmo AI

    32743 23 Mile Road, Chesterfield, MI 48047

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    Claim this Listing
    For Lease
    $3,006/Mo $17 SF/Yr (calc)

    COMMERCIAL - Chesterfield, MI

    Property size:
    2,010 SF
    Lot size:
    2.90 Acres
    Added:
    Nov 3, 2025
    Days on Market:
    213
    Last Refresh:
    Jun 4 at 6:06 pm

    Property Features for 32743 23 Mile Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    15-09-15-400-031
    Size
    2,010 SF
    Lot size
    2.90 Acres

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1994
    Roof type
    Shingle

    We can help!

    Listing Contact
    Kenneth Minne
    Kenneth Minne

    Listing agent Kenneth Minne License #6506045237

    Listing office Pilot Property Group - Residential LLC 38600 Van Dyke Ste 325, Shelby Twp, MI

    Listing date Nov 3, 2025

    MLS# 50193255

    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

    • Year built 1994
    • Forced air heating
    • Shingle roof
    • Public water
    • Parking lot parking
    • Completely renovated professional building; professionally managed

    Overview

    This completely renovated professional building offers a single remaining office suite for lease. The space is part of a professionally managed property, designed to support everyday office operations in a refreshed, turn-key environment.

    The building is located on 23 Mile Road in Chesterfield, MI, and is described as being close to I-94. That access profile can be practical for tenants who want convenient regional connectivity while operating from a dedicated office setting.

    As the last unit available, this suite may fit tenants looking to secure office space in a recently updated property under professional management. Ideal uses would be those that benefit from an office-focused layout within a maintained commercial building, particularly for teams that want to move into a renovated space rather than coordinate major updates.
    Property Profile Location Intelligence

    Current Use by Public Records

    Alexa Kuzdal Physician Laura LaMar, DPM Physician Marie T. Bailey, ... Physician Victoria L. Borowski, ... Physician Dr. Robert A. Valice, ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesterfield
    County
    Macomb
    State
    Michigan
    Longitude
    -82.77999
    Latitude
    42.676482

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    FAQs

    What type of property is this?
    Office units - Last available office suite in a fully renovated, professionally managed building close to I-94.
    Where is this office units located?
    The property is located at 32743 23 Mile Road Chesterfield, MI.
    What is the lease rate?
    The lease rate is $3,006 /Mo.
    What are key features of this property?
    This property features: Year built 1994; Forced air heating; Shingle roof
    (586) 291-5525
    We can help!
    Listing Contact
    Kenneth Minne
    Kenneth Minne
    Real Estate License ID: 6506045237
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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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