Remodeled Office and
For Sale
$750,000
55951 Gratiot Avenue, New Baltimore, MI 48051
COMMERCIAL - Chesterfield Twp, MI
Property Size5,785 SF
Lot Size0.71 Acres
Price / SF$129.65
Days on Market191
Property Features for 55951 Gratiot Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Professional Office, Industrial
Parking features
Parking Lot
Subdivision
Chesterfield Twp (50009)
Standard status
Active
APN
15-09-04-402-001
Size
5,785 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11849
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1999
Listing Agency:
JD & Associates Realtors
(586) 273-2500
Listed By:
Janis DeGregory · License #6502373048
(586) 531-1023
Added: Jan 20
Changed: Jul 23
Last Checked: Jul 30 at 7:06PM
MLS# 50197906
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.
Investment Insights
Based on property information with market context.
This property combines an office building with a radiant heated warehouse in a single facility. The office portion totals 3,480 square feet and includes a reception area, two conference rooms, a large training room, 12 private offices, a kitchenette, two bathrooms, and LED lighting throughout. The warehouse measures 2,305 square feet with 24-foot ceilings, a handicap accessible bathroom, radiant heat, and two large 14-foot overhead doors. A staircase provides access to a mezzanine for additional storage, and the property was completely remodeled in 2019. A new roof was installed in 2025 with a warranty.
Located on the Gratiot corridor in Chesterfield Township, the site sits on 0.71 acres. Zoning is M2 for light industrial use. CAM charges include trash pickup, lawn care, and snow removal.
The layout is practical for owner-users or investors seeking light industrial operations supported by substantial office and meeting space. With dedicated office rooms, training space, and direct warehouse functionality through two overhead doors, the property can accommodate businesses that require both administrative space and day-to-day warehouse capabilities.
Located on the Gratiot corridor in Chesterfield Township, the site sits on 0.71 acres. Zoning is M2 for light industrial use. CAM charges include trash pickup, lawn care, and snow removal.
The layout is practical for owner-users or investors seeking light industrial operations supported by substantial office and meeting space. With dedicated office rooms, training space, and direct warehouse functionality through two overhead doors, the property can accommodate businesses that require both administrative space and day-to-day warehouse capabilities.
Key Highlights
- Office/warehouse building totaling 5,785 sq ft, with 3,480 sq ft office and 2,305 sq ft radiant‑heated warehouse
- Office features include reception, 2 conference rooms, large training room, 12 private offices, kitchenette, 2 bathrooms, and LED lighting
- Warehouse has 2 large 14' overhead doors and 24' ceilings, plus handicap accessible bathroom and staircase to mezzanine storage
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.5k | $19.80 |
| − Vacancy | −$13.5k | −$2.33 |
| EGI | $101.1k | $17.47 |
| − OpEx | −$35.4k | −$6.12 |
| NOI | $65.7k | $11.36 |
5,785 SF · lease $19.80/SF/yr · vacancy 11.75% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$938.6K
$821.3K – $1.10M
NOI $65,705 @ 7.0% cap · market cap 8.76%
Second Best
Warehouse
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 5.05%
Theoretical Best
Specialty Retail
$1.08M
$947.7K – $1.26M
NOI $75,813 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
2
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48051, MI
17,718
Population
7,255
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
91%
High-School Grad
14.2 sq mi
ZIP Area
1,248
Density / Sq Mi
$89,923
Median Household Income
$50,569
Median Earnings
$1,064
Median Rent
$247,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A remodeled office and heated warehouse offering dedicated office support and multiple overhead doors for light industrial use.
Where is this flex space located?
The property is located at 55951 Gratiot Avenue New Baltimore, MI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Office/warehouse building totaling 5,785 sq ft, with 3,480 sq ft office and 2,305 sq ft radiant‑heated warehouse; Office features include reception, 2 conference rooms, large training room, 12 private offices, kitchenette, 2 bathrooms, and LED lighting; Warehouse has 2 large 14' overhead doors and 24' ceilings, plus handicap accessible bathroom and staircase to mezzanine storage
