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    Move-In Ready Warehouse with Loading Dock Title is generated by Realmo AI

    35252-35340 23 Mile Road, New Baltimore, MI 48047

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    Claim this Listing
    For Lease
    $8,000/Mo $8 SF/Yr (calc)

    COMMERCIAL - New Baltimore, MI

    Property size:
    10,875 SF
    Lot size:
    9.48 Acres
    Added:
    Jan 29, 2026
    Days on Market:
    127
    Last Refresh:
    Jun 5 at 5:06 am

    Property Features for 35252-35340 23 Mile Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    060924101068
    Size
    10,875 SF
    Lot size
    9.48 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1990
    Roof type
    Flat

    We can help!

    Listing Contact
    Anthony Rubino
    Anthony Rubino

    Listing agent Anthony Rubino License #6502425251

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

    Listing date Jan 29, 2026

    MLS# 50198415

    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

    • New rooftop HVAC units
    • Loading dock access available
    • Central air with forced‑air heating
    • Flat roof
    • 1990 construction
    • Public water and parking lot parking

    Overview

    This move-in ready warehouse features loading dock access designed to support day-to-day inbound and outbound activity. The property also includes monument signage and newly installed rooftop HVAC units to help maintain workable indoor conditions for a range of industrial uses. Total building size is 10,875 square feet, set on a 9.48-acre lot.

    Located in New Baltimore, Michigan, the property is identified on 23 Mile Road with a range of suitable operational access for tenants who need practical site logistics. The offering is for lease, providing an industrial option for users looking for an existing building with key site and building improvements in place.

    The combination of loading dock access, move-in ready condition, and updated rooftop HVAC makes this warehouse a practical fit for organizations that value functional move-in timing and straightforward building operations. Monument signage can support brand presence for qualified uses where visibility matters. Prospective tenants and brokers can review the space with the understanding that the core improvements are already in place, reducing the need to plan around immediate building updates.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    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.

    Similar Places Nearby

    • Five Star Self Storage — 35515 23 Mile Rd, New Baltimore, MI 48047
    • National Storage — 35515 23 Mile Rd, New Baltimore, MI 48047
    • National Storage Centers — 35515 23 Mile Rd, New Baltimore, MI 48047

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.751689
    Latitude
    42.67486

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    FAQs

    What type of property is this?
    Warehouse - Move-in ready industrial space with loading dock access and newly installed rooftop HVAC units.
    Where is this warehouse located?
    The property is located at 35252-35340 23 Mile Road New Baltimore, MI.
    What is the lease rate?
    The lease rate is $8,000 /Mo.
    What are key features of this property?
    This property features: New rooftop HVAC units; Loading dock access available; Central air with forced‑air heating
    (586) 873-5419
    We can help!
    Listing Contact
    Anthony Rubino
    Anthony Rubino
    Real Estate License ID: 6502425251
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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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