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    Office Suite with Private Restroom Title is generated by Realmo AI

    51145 Washington Street, New Baltimore, MI 48047

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    For Lease
    $1,100/Mo $17 SF/Yr (calc)

    COMMERCIAL - New Baltimore, MI

    Property size:
    775 SF
    Lot size:
    0.62 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 10:06 am

    Property Features for 51145 Washington Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    06-09-13-433-014
    Size
    775 SF
    Lot size
    0.62 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1979

    We can help!

    Listing Contact
    Kris Pierowich

    Listing agent Kris Pierowich License #6501396876

    Listing office JD & Associates Realtors 55951 Gratiot Ave, Chesterfield Twp, MI

    Listing date Jun 5, 2026

    MLS# 50210268

    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

    • 775 SF office space in Town Professional Offices on Washington St., Suite A (front suite as you enter)
    • Wide open floor plan with private restroom at the rear of the space
    • Rent includes water, taxes, and insurance; no CAMS fee
    • Tenant pays utilities (gas and electric) and liability insurance
    • Building has forced air heat and central air; equipped with 440V service if needed
    • Over 30 on‑site parking spaces in front, side, and rear of the building

    Overview

    This for-lease office suite is located in the Town Professional Offices building and consists of a wide open floor plan with a private restroom at the rear of the space. Suite A is the first office as you enter the front of the building and includes several windows with views of Washington St. The space features newer carpet.

    The property offers ample parking in front, side, and rear of the building, with over 30 spaces available. The building is situated on Washington Street in downtown New Baltimore, just south off Green St.

    Rent includes water, taxes, and insurance, and there is no CAMS fee. The tenant is responsible for utilities, including gas and electric, along with liability insurance. The building has 440V service available if needed. To be considered, the tenant must submit a lease application with credit information and rental history, with a $40 fee, and there is a $1,100 security deposit and a $250 move-in fee.
    Property Profile Location Intelligence

    Current Use by Public Records

    Anchor Bay Spine ... Alternative Medicine Practice Kling Farm Bureau ... Insurance Agency Dr. Art Niederkohr Alternative Medicine Practice Revolutionary Print Management Marketing & Advertising Dove of Peace Christian ... Counselor

    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.

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.736624
    Latitude
    42.680619

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    FAQs

    What type of property is this?
    Office units - Efficient office suite with multiple windows, open layout, and a private restroom, plus rent that covers water, taxes, and insurance.
    Where is this office units located?
    The property is located at 51145 Washington Street New Baltimore, MI.
    What is the lease rate?
    The lease rate is $1,100 /Mo.
    What are key features of this property?
    This property features: 775 SF office space in Town Professional Offices on Washington St., Suite A (front suite as you enter); Wide open floor plan with private restroom at the rear of the space; Rent includes water, taxes, and insurance; no CAMS fee
    (586) 842-4927
    We can help!
    Listing Contact
    Kris Pierowich
    Real Estate License ID: 6501396876
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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.

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