Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Neighborhood Shopping Center For Rent Title is generated by Realmo AI

    36570-36830 Garfield Road, Clinton Township, MI 48035

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    59,463 SF shopping center anchored by Randazzo's and CVS.

    Type:Retail
    Property size:
    59,463 SF
    Added:
    Aug 8, 2020
    Days on Market:
    2124
    Last Refresh:
    May 12 at 10:42 pm

    Property Features for 36570-36830 Garfield Road

    General Information

    Standard status
    Active
    Size
    59,463 SF
    Property subtype
    Retail

    Spaces For Lease

    at 36570-36830 Garfield Road Contact us

    We can help!

    Listing Contact
    George Abro
    George Abro

    Listing agent George Abro License #MI 6502432561

    Listing office Altitude Commercial Real Estate

    Listing date Aug 8, 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 Altitude Commercial Real Estate

    HighLights

    • Anchored by Randazzo's Marketplace and CVS.
    • High traffic location with nearly 95,000 vehicles per day.
    • Located at the major intersection of Metro Parkway and Garfield Rd.
    • Excellent visibility from all directions.
    • Located in Clinton Township, the most populated township in Michigan.
    • High population density with over 105,000 people within a 3‑mile radius.

    Overview

    This 59,463 square foot neighborhood shopping center is anchored by Randazzo's Marketplace and CVS. The center benefits from high visibility from all directions and experiences approximately 95,000 vehicles per day. Located at the intersection of Metro Parkway and Garfield Road, a major intersection in Clinton Township, Michigan. Clinton Township is the most populated township in Michigan, with a population of over 105,000 people within a 3-mile radius and 306,616 within a 5-mile radius. Major tenants within this center include Verizon Wireless, GNC, Randazzo's Fresh Market, and CVS.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.950773
    Latitude
    42.565957

    Nearby Similar for Lease

    • $3,400/Mo
      3,200 SF

      Gratiot Avenue Professional Office Space

      Spacious office building on Gratiot Avenue, move-in ready.
      37520 S Gratiot, Clinton Township, MI 48036
      View Details
    • $1,100/Mo
      800 SF

      High-Traffic Retail/Office Space Available

      800 SF space in high-traffic Clinton Township location.
      44623 N Gratiot Avenue, Clinton Township, MI 48036
      View Details
    • $4,000/Mo
      3,500 SF

      Industrial Flex Space For Rent

      3,500 SF industrial flex space suitable for various businesses.
      36429 Groesbeck, Clinton Township, MI 48035
      View Details
    • $550/Mo
      180 SF

      Clinton Township Office Space Available

      Well-maintained office building with multiple private entrances in Clinton Township.
      35807 Moravian, Clinton Township, MI 48035
      View Details
    • $1,500/Mo
      1,152 SF

      Clinton Township Office For Rent

      Standalone office building in Clinton Township, Michigan, with great exposure.
      18601 15 Mile, Clinton Township, MI 48035
      View Details
    • $4,500/Mo
      3,700 SF

      Industrial Flex Space Available

      3700 SF industrial flex space suitable for various businesses.
      36431 Groesbeck Ave, Clinton Township, MI 48035
      View Details
    • $1,100/Mo
      800 SF

      Retail Space on Gratiot Avenue

      Retail space available in high-traffic area on Gratiot Avenue.
      44623 N Gratiot Ave, ClintonCharterTownship_Macomb, MI 48036
      View Details
    • $3,380/Mo
      2,695 SF

      Office Space with Multiple Offices

      Office space featuring reception area and multiple private offices.
      34381 Gratiot Avenue S, ClintonCharterTownship_Macomb, MI 48035
      View Details
    • $4,000/Mo
      3,500 SF

      Industrial Flex Space Available

      Versatile industrial flex space suitable for various business operations.
      36429 Groesbeck, ClintonCharterTownship_Macomb, MI 48035
      View Details
    • $1,250/Mo

      Renovated Retail Center Space Available

      Newly renovated retail space with high traffic and ample parking.
      40000 HAYES Rd 40100, ClintonCharterTownship_Macomb, MI 48038
      View Details
    • $15 SF/Yr
      1,800 SF

      Retail Space on Harper Avenue

      Well-maintained shopping center with 1,800 SF unit for lease.
      37507-37527 Harper Ave, Clinton Township, MI 48036
      View Details
    • $18 SF/Yr
      6,000 SF

      Turn-Key Medical/Office Condo

      6,000 SF condo suite near hospitals and community college.
      42450 Hayes Rd Ste 3a, Clinton Township, MI 48038
      View Details

    FAQs

    What type of property is this?
    Shopping center - 59,463 SF shopping center anchored by Randazzo's and CVS.
    Where is this shopping center located?
    The property is located at 36570-36830 Garfield Road Clinton Township, MI.
    What are key features of this property?
    This property features: Anchored by Randazzo's Marketplace and CVS.; High traffic location with nearly 95,000 vehicles per day.; Located at the major intersection of Metro Parkway and Garfield Rd.
    (248) 781-8076 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing George Abro
    George Abro
    Real Estate License ID: MI 6502432561
    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
    36570-36830 Garfield Road, Clinton Township, MI 48035
    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!