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    Remodeled Office and Warehouse Title is generated by Realmo AI

    55951 Gratiot Avenue, New Baltimore, MI 48051

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    For Sale
    $750,000

    COMMERCIAL - Chesterfield Twp, MI

    Property size:
    5,785 SF
    Lot size:
    0.71 Acres
    Price / SF:
    $129/SF
    Added:
    Jan 20, 2026
    Days on Market:
    135
    Last Refresh:
    Jun 4 at 12:06 pm

    Property Features for 55951 Gratiot Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    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

    We can help!

    Listing Contact
    Janis DeGregory
    Janis DeGregory

    Listing agent Janis DeGregory License #6502373048

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

    Listing date Jan 20, 2026

    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.

    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
    • Completely remodeled in 2019 and new roof in 2025 with warranty
    • M2 zoning (light industrial) with public water; forced air heat and central air; parking lot
    • CAM charges include trash pick up, lawn care, and snow removal; multiple month‑to‑month tenants currently generate some income

    Overview

    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.

    Local 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 (±1% cap)
    NOI $65,705 @ 7.0% cap · market cap 8.76%
    Second Best
    Warehouse
    $541.1K
    $473.5K – $631.3K (±1% cap)
    NOI $37,878 @ 7.0% cap · market cap 5.05%
    Theoretical Best
    Specialty Retail
    $1.08M
    $947.7K – $1.26M (±1% cap)
    NOI $75,813 @ 7.0% cap · market cap 10.11%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    JD & Associates Realtors Real Estate Agency Nicole Toureau - Realtor Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Food Market Storage Facility Garden 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
    -82.804623
    Latitude
    42.711562

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    FAQs

    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
    (586) 531-1023
    We can help!
    Listing Contact
    Janis DeGregory
    Janis DeGregory
    Real Estate License ID: 6502373048
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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.

    More about this property
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