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

    51347-51405 Gratiot Avenue, Chesterfield, MI 48051

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space available for lease in Chesterfield, Michigan.

    Type:Retail
    Added:
    Aug 13, 2024
    Days on Market:
    663
    Last Refresh:
    May 13 at 12:12 am

    Property Features for 51347-51405 Gratiot Avenue

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2002

    Spaces For Lease

    at 51347-51405 Gratiot Avenue Contact us

    We can help!

    Listing Contact
    Gary Grochowski
    Gary Grochowski

    Listing agent Gary Grochowski License #MI

    Listing office Colliers - Royal Oak/Detroit, Michigan

    Listing date Aug 13, 2024

    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 Colliers - Royal Oak/Detroit, Michigan

    HighLights

    • Year Built: 2002

    Overview

    This retail space is available for lease at 51347-51405 Gratiot Avenue, Chesterfield, MI 48051.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Chesterfield
    County
    Macomb
    State
    Michigan
    Longitude
    -82.83355
    Latitude
    42.678318

    Nearby Similar for Lease

    • $1,500/Mo
      900 SF

      Office Suite with Two Offices

      Well-appointed office suite includes reception, two private offices, a conference room, and a kitchenette for client-facing teams.
      55931 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • $5,999/Mo
      7,700 SF

      Industrial Flex Warehouse with Drive-Thru

      Clear-span industrial space with drive-thru capability, 22-foot clear height, and truck-friendly wraparound access.
      51915 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • $3,006/Mo
      2,010 SF

      Completely Renovated Office Suite

      Last available office suite in a fully renovated, professionally managed building close to I-94.
      32743 23 Mile Road, Chesterfield, MI 48047
      View Details
    • $500/Mo
      80 SF

      Private Office in Coworking Facility

      Lease a private office with shared conference space and utilities included in a gross coworking arrangement.
      55951 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • $17 SF/Yr
      39,800 SF

      Multi-Tenant Industrial Flex Building

      New industrial flex building offering small-bay warehousing with optional office space for flexible tenant layouts.
      30801 Commerce Blvd, Chesterfield, MI 48051
      View Details
    • $4 SF/Yr

      Gratiot Avenue Industrial Space Available

      Industrial property with main road frontage and redevelopment potential.
      52365 Gratiot Avenue, Chesterfield, MI 48051
      View Details
    • $15 SF/Yr
      2,646 SF

      Retail Space on Gratiot Avenue

      Retail space available for lease on Gratiot Avenue.
      46970 Gratiot Ave, Chesterfield, MI
      View Details
    • $35 SF/Yr
      5,641 SF

      Freestanding Building with Drive-Thru Potential

      New development opportunity near Gratiot Ave & 23 Mile Rd.
      51705 Gratiot Ave, Chesterfield, MI
      View Details
    • $2,000/Mo
      2,400 SF

      Professional Office Suite

      Suite includes multiple offices, conference space, reception area, and dedicated restroom and lunch accommodations.
      30845 23 Mile Road, Chesterfield, MI 48047
      View Details
    • Contact for pricing

      Retail Space Near Major Anchors

      Retail space for rent near Hobby Lobby and Lowe's.
      50500 Gratiot Avenue | Chesterfield, MI 48051
      View Details
    • Contact for pricing
      2,002 SF

      Turnkey Restaurant Space Available

      Restaurant space in a busy center on 23 Mile Road.
      27801 23 Mile Rd, Chesterfield, MI 48051
      View Details
    • Contact for pricing

      Retail or Office Space Available

      Retail or office space with excellent visibility and freeway access.
      49684 Gratiot Ave, Chesterfield, MI 48051
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available for lease in Chesterfield, Michigan.
    Where is this retail space located?
    The property is located at 51347-51405 Gratiot Avenue Chesterfield, MI.
    What are key features of this property?
    This property features: Year Built: 2002
    (810) 623-8013 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gary Grochowski
    Gary Grochowski
    Real Estate License ID: MI
    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
    51347-51405 Gratiot Avenue, Chesterfield, MI 48051
    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!