Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space on Van Dyke Title is generated by Realmo AI

    46735 Van Dyke Ave, Utica, MI 48317

    View on Map
    Claim this Listing
    For Lease
    $1,600/Mo $12 SF/Yr (calc)

    Retail space available for lease in Shelby Charter Township.

    Type:Commercial
    Property size:
    1,600 SF
    Added:
    Apr 15, 2026
    Days on Market:
    48
    Last Refresh:
    Mar 28 at 4:20 am

    Property Features for 46735 Van Dyke Ave

    General Information

    Standard status
    Active
    Size
    1,600 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    Michael F Thornton

    Listing agent Michael F Thornton

    Listing office

    Listing date Apr 15, 2026

    Source Elliman

    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 Michael F Thornton

    HighLights

    • Gross Lease at $16/SF
    • Landlord will bring white box up to code
    • Landlord will consider build to suit
    • Build cost into lease
    • Unit located at North end of Shopping Center
    • One month's free rent

    Overview

    This retail space is located at the north end of a shopping center at 46735 Van Dyke Avenue in Shelby Charter Township, Michigan. The unit measures 20 feet by 80 feet and is currently an open white box with one office. The landlord will bring the white box up to code and will consider a build-to-suit arrangement, with the build cost incorporated into the lease. The lease is a gross lease at $16 per square foot, with the tenant responsible for flooring costs. One month's free rent is offered. The location has a walk score of 62, indicating it is somewhat walkable, and a bike score of 48, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Macomb
    State
    Michigan
    Longitude
    -83.03324
    Latitude
    42.638397

    Nearby Similar for Lease

    • $750/Mo
      438 SF

      Well-Maintained Office Space Available

      Office space with private offices and break room for rent.
      8344 HALL, Utica, MI 48317
      View Details
    • $1,200/Mo
      752 SF

      Office Space in Utica

      Well-maintained office space with private offices and break room.
      8344 HALL, Utica, MI 48317
      View Details
    • $3,726/Mo
      1,600 SF

      Retail/Medical Units in Utica, MI

      Approved site for retail and medical units with drive-thru.
      51921 Van Dyke, Utica, MI 48316
      View Details
    • $1,900/Mo
      12,500 SF

      Renovated Church Available For Lease

      Handicap accessible, renovated church in Utica available for shared lease.
      45504 CASS Avenue, Utica, MI 48317
      View Details
    • $600/Mo
      150 SF

      Office Space Sub-Lease Available

      Sub-lease office space with included amenities and secured access.
      51543 Van Dyke Ave, ShelbyCharterTownship_Macomb, MI 48316
      View Details
    • $2,500/Mo
      2,500 SF

      Retail Space For Lease

      2500 sqft retail space with high visibility.
      4011 AUBURN Rd, ShelbyCharterTownship_Macomb, MI 48317
      View Details
    • $5,500/Mo
      2,400 SF

      Retail Space with Drive-Thru

      Retail space with approved plans for drive-thru and seating.
      48081 Van Dyke Ave, ShelbyCharterTownship_Macomb, MI 48317
      View Details
    • $1,200/Mo

      Move-in Ready Office Suite

      Contemporary office suite with modern infrastructure in high-traffic location.
      4741 24 Mile Rd, ShelbyCharterTownship_Macomb, MI 48316
      View Details
    • $4,427/Mo

      Professional Office Space For Rent

      Professional office space available in ShelbyCharterTownship_Macomb, MI.
      6300 22 Mile Rd, ShelbyCharterTownship_Macomb, MI 48317
      View Details
    • $18 SF/Yr
      16,500 SF

      Retail Space in Shelby Township

      Retail space for lease in a multi-tenant property.
      50940-50980 Shelby Rd, Utica, MI
      View Details
    • $295 SF/Yr
      64 SF

      Professional Office Space For Lease

      Professional office space available for lease in Utica, Michigan.
      11255 HALL, Utica, MI 48317
      View Details
    • $9 SF/Yr
      45,852 SF

      Industrial Building in Shelby Township

      45,852 SF industrial building with customizable office space.
      51865 Danview Technology Ct., Shelby Township, MI 48315
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available for lease in Shelby Charter Township.
    Where is this retail space located?
    The property is located at 46735 Van Dyke Ave Utica, MI.
    What is the lease rate?
    The lease rate is $1,600 /Mo.
    What are key features of this property?
    This property features: Gross Lease at $16/SF; Landlord will bring white box up to code; Landlord will consider build to suit
    We can help!
    Listing Contact
    Michael F Thornton
    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
    46735 Van Dyke Ave, ShelbyCharterTownship_Macomb, MI 48317
    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!