Mixed-Use Building with
New
For Sale
$700,000
55951 Gratiot Avenue, New Baltimore, MI 48051
COM/IND/BUS OPP, Chesterfield Twp, MI
Property Size5,785 SF
Lot Size0.71 Acres
Price / SF$121
Days on Market2
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
Tenancy & Operations
Currently Operating
Yes
Tenant in Place
Yes
Additional Details
Property Use
Office/Warehouse
Taxes and HOA fees
Tax Annual Amount
12054
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
reception area
conference rooms
training room
private offices
kitchenette
LED lighting
radiant heat
handicap accessible bathroom
mezzanine storage
Building Details
Year built
1999
Buildings
1
Listing Agency:
JD & Associates Realtors
(586) 273-2500
Listed By:
Janis DeGregory · License #6502373048
(586) 531-1023
Added: Nov 5
Last Checked: Nov 6 at 4:06AM
MLS# 50226904
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.
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Investment Insights
Based on property information with market context.
The 5,785-square-foot property pairs 3,480 square feet of office area with a 2,305-square-foot warehouse. The office layout includes a reception area, two conference rooms, a training room, 12 private offices, a kitchenette, and two bathrooms. The warehouse has radiant heat, 24-foot ceilings, two 14-foot overhead doors, an accessible bathroom, and stairs to mezzanine storage. The building was remodeled in 2019; the roof was replaced in 2025, and the parking area was resurfaced in 2026. M2 zoning is designated for light industrial use.
Located on Gratiot Avenue in Chesterfield Township, the property occupies 0.71 acres. Multiple month-to-month tenants currently generate income. Forced-air heating, central air conditioning, and public water serve the property.
Located on Gratiot Avenue in Chesterfield Township, the property occupies 0.71 acres. Multiple month-to-month tenants currently generate income. Forced-air heating, central air conditioning, and public water serve the property.
Key Highlights
- 5,785 square feet total: 3,480‑square‑foot office area and 2,305‑square‑foot warehouse
- Office layout includes 12 private offices, two conference rooms, and a large training room
- Warehouse features radiant heat, 24‑foot ceilings, and two 14‑foot overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,878
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,560
$757.6K
Cap Rate 7%
$541,114
$541.1K
Cap Rate 9%
$420,867
$420.9K
Market Conditions
NOI Build-Up for 5,785 SF
Gross rent
$47.2K $8.16/SF
− Vacancy
−$2.6K −$0.46/SF
EGI
$44.6K $7.70/SF
− OpEx
−$6.7K −$1.16/SF
NOI
$37.9K $6.55/SF
Area
Macomb County, MI
Vacancy
5.60%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,560
Cap Rate 7%
$541,114
Cap Rate 9%
$420,867
Alternative Uses
Best Use
Mixed Use
$981.8K
$859.1K – $1.15M
NOI $68,726 @ 7.0% cap · market cap 9.82%
Second Best
Warehouse
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$1.08M
$947.7K – $1.26M
NOI $75,813 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
24 ft
Clear height
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - M2-zoned property combines private offices and training space with a heated warehouse and month-to-month occupants.
Where is this mixed-use property located?
The property is located at 55951 Gratiot Avenue New Baltimore, MI.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5,785 square feet total: 3,480‑square‑foot office area and 2,305‑square‑foot warehouse; Office layout includes 12 private offices, two conference rooms, and a large training room; Warehouse features radiant heat, 24‑foot ceilings, and two 14‑foot overhead doors
