Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot on Gratiot Avenue Title is generated by Realmo AI

    54240 Gratiot Ave, New Baltimore, MI 48047

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

    Prime commercial lot with high visibility on Gratiot Avenue.

    Type:Retail, Office, Land
    Lot size:
    0.63 Acres
    Added:
    Aug 20, 2025
    Days on Market:
    275
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 54240 Gratiot Ave

    General Information

    Standard status
    Active
    Lot size
    0.63 Acres
    Property subtype
    Retail, Office, Land

    We can help!

    Listing Contact
    Pietro Saputo

    Listing agent Pietro Saputo License #6501403131

    Listing office Lino Realty Inc

    Listing date Aug 20, 2025

    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 Lino Realty Inc

    HighLights

    • Prime .63‑acre commercial lot with C‑1 zoning, suitable for retail, office, or service businesses
    • High visibility location on Gratiot Avenue
    • Located in a growing Chesterfield Township trade area with strong demographics and new development
    • Excellent exposure for businesses
    • Ideal opportunity for investment or development
    • Motivated seller

    Overview

    This 0.63-acre commercial lot is located on Gratiot Avenue in Chesterfield, MI. The property benefits from high visibility and C-1 zoning, making it suitable for retail, office, or service businesses. The surrounding Chesterfield Township trade area is experiencing growth and features strong demographics, as well as new development. The lot is positioned between 24 and 25 Mile Road on Gratiot Avenue, offering an ideal opportunity for investment or development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Baltimore
    County
    Macomb
    State
    Michigan
    Longitude
    -82.81241
    Latitude
    42.698166

    Nearby Similar for Sale

    • $750,000
      5,785 SF

      Remodeled Office/Warehouse on Gratiot Corridor

      5,785 SF remodeled office and warehouse on 0.71 acres.
      55951 Gratiot, Chesterfield Twp, MI 48051
      View Details
    • $875,000

      Prime Land in Chesterfield Township

      7-acre mixed-use development opportunity in a high-growth commercial corridor.
      37320 26 Mile, Chesterfield Twp, MI 48047
      View Details
    • $135,000

      Waterfront Lot in New Baltimore

      Waterfront land ideal for custom home with walkout basement.
      36566 N Pointe Drive, New Baltimore, MI 48047
      View Details
    • $199,000

      Commercial Land on Gratiot Avenue

      Vacant commercial land with high traffic count in Chesterfield.
      0 Gratiot, Chesterfield Twp, MI 48047
      View Details
    • $225,000

      Waterfront Vacant Lot Opportunity

      Quarter-acre vacant lot on the canal with direct water access.
      29050 Farwell, New Baltimore, MI 48047
      View Details
    • $105,000

      Residential Land in Chesterfield Township

      Over one acre lot for building a dream home.
      27100 25 Mile rd, Chesterfield Twp, MI 48051
      View Details
    • $120,000

      Established Restaurant with Drive-Thru

      Freestanding restaurant with drive-thru in high-traffic area.
      51170 Gratiot Ave, ChesterfieldTownship_Macomb, MI 48051
      View Details
    • $199,000

      Vacant Land on Gratiot Avenue

      2.2 acres of commercial land with frontage on Gratiot.
      48936 Gratiot, New Baltimore, MI 48051
      View Details
    • $850,000
      11,516 SF

      New Baltimore Warehouse Opportunity

      11,516 sqft warehouse property for sale in New Baltimore.
      51690 Birch Street, New Baltimore, MI, 48047
      View Details
    • $95,000

      Residential Land in Chesterfield Township

      One-acre residential lots available for building a dream home.
      Parcel B Hagen Road, Chesterfield Twp, MI 48051
      View Details
    • $95,000

      Residential Land in Chesterfield Twp

      1+ acre residential lots with no HOA, natural gas.
      Parcel C Hagen Road, Chesterfield Twp, MI 48051
      View Details
    • $225,000

      Waterfront Lot with Boat Lift

      Quarter-acre waterfront lot with new deck, docks, and boat lift.
      29050 Farwell St, NewBaltimoreCity_Macomb, MI 48047
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial lot with high visibility on Gratiot Avenue.
    Where is this commercial land located?
    The property is located at 54240 Gratiot Ave New Baltimore, MI.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: Prime .63‑acre commercial lot with C‑1 zoning, suitable for retail, office, or service businesses; High visibility location on Gratiot Avenue; Located in a growing Chesterfield Township trade area with strong demographics and new development
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Pietro Saputo
    Real Estate License ID: 6501403131
    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
    54240 Gratiot Ave, New Baltimore, MI 48047
    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!