Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4247 14 Mile Rd Sterling Heights, MI

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

    High-end office building with main road exposure for lease.

    Type:OFFICE
    Property size:
    10,895 SF
    Lot size:
    1.20 Acres
    Added:
    Jun 21, 2024
    Days on Market:
    673
    Last Refresh:
    Apr 5 at 10:04 pm

    Property Features for 4247 14 Mile Rd

    General Information

    Standard status
    Active
    Size
    10,895 SF
    Lot size
    1.20 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 4247 14 Mile Rd Contact us

    We can help!

    Listing Contact
    William (Bill) Harvey
    William (Bill) Harvey

    Listing agent William (Bill) Harvey

    Listing office Transwestern | Detroit

    Listing date Jun 21, 2024

    Source Moodyscre

    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 Transwestern | Detroit

    Overview

    Professional Office Space Available

    This office space is located in a high-end professional building with attention to detail and well-manicured landscaping. The property offers an outstanding main road location. Signage is available. The property has a size of 10895 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sterling Heights
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0651
    Latitude
    42.5362

    Nearby Similar for Lease

    • $14 SF/Yr

      Sterling Heights Retail Space Available

      Retail and restaurant spaces in Sterling Place Plaza Shopping Center.
      37600 Van Dyke Avenue, Sterling Heights, MI 48312
      View Details
    • $2,500/Mo

      Spacious Office Building For Lease

      Well-maintained office building with private entrance, kitchen, and bathroom.
      34514 Dequindre Rd, Sterling Heights, MI 48310
      View Details
    • $100 SF/Yr

      New Construction Retail/Office Space

      New construction retail/office space in Sterling Heights, completion January 2027.
      13200 15 Mile Rd A, Sterling Heights, MI 48312
      View Details
    • $18 SF/Yr

      Sterling Heights Retail Space Available

      Retail space available for lease in Sterling Heights, Michigan.
      44533 Schoenherr Road, Sterling Heights, MI 48313
      View Details
    • $21 SF/Yr

      Turn-Key Office Space Available

      8,683 SF office space with high-end finishes and parking.
      38219 Mound Road, Sterling Heights, MI 48310
      View Details
    • $12 SF/Yr

      Medical/Office Building For Lease

      Medical/Office building available for lease in Sterling Heights, Michigan.
      Sterling Heights, MI 48312
      View Details
    • $9 SF/Yr

      Modern Industrial/Flex Facility Available

      Subdividable industrial/flex space with office, truck wells, and frontage.
      40800 Enterprise Drive, Sterling Heights, MI 48314
      View Details
    • $10 SF/Yr

      Industrial/Flex Space on Mound Road

      2,700-10,800 SF available for lease or sale.
      40485 Mound Road, Sterling Heights, MI 48310
      View Details
    • $8 SF/Yr

      Sterling Heights Warehouse Space Available

      9,245 SF warehouse space near M-59 and M-53.
      6543 Arrow Drive, Sterling Heights, MI 48314
      View Details
    • $17 SF/Yr

      Medical/General Office Suites For Rent

      Medical and general office suites available near Troy Beaumont Hospital.
      41300-41400 Dequindre Rd, Sterling Heights, MI 48314
      View Details
    • $1,500/Mo

      Sterling Heights Light Industrial Space

      Light industrial space for rent in Sterling Heights, Michigan.
      43694 Utica Rd, Sterling Heights, MI 48314
      View Details
    • Contact for pricing

      New Construction Retail/Office Space

      New construction retail/office space in prime Sterling Heights location.
      13200 15 Mile Rd, Sterling Heights, MI, 48312
      View Details

    FAQs

    What type of property is this?
    Office units - High-end office building with main road exposure for lease.
    Where is this office units located?
    The property is located at 4247 14 Mile Rd Sterling Heights, MI.
    What are key features of this property?
    This property features: Outstanding main road location; High‑end professional building; Attention to detail
    (248) 440-1441 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing William (Bill) Harvey
    William (Bill) Harvey
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!