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

    58531-58625 Van Dyke Avenue, Washington Twp, MI 48094

    View on Map
    Claim this Listing
    For Lease
    $33,656 SF/Yr $63,105,000/Mo (calc)

    COMMERCIAL - Washington Twp, MI

    Property size:
    22,500 SF
    Lot size:
    1.66 Acres
    Added:
    Apr 14, 2025
    Days on Market:
    417
    Last Refresh:
    Jun 4 at 7:06 am

    Property Features for 58531-58625 Van Dyke Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    24-04-33-227-042
    Size
    22,500 SF
    Lot size
    1.66 Acres

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1971
    Roof type
    Shingle

    We can help!

    Listing Contact
    Boyd C. Kraft
    Boyd C. Kraft

    Listing agent Boyd C. Kraft License #6506047213

    Listing office Pilot Property Group - Residential LLC 38600 Van Dyke Ste 325, Shelby Twp, MI

    Listing date Apr 14, 2025

    MLS# 50171316

    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

    • Former Hampton House at Washington Plaza, with facade upgrade and complete building renovation underway
    • Renovation completion targeted for September 2025
    • 1600 to 22,000 SF available, with auxiliary warehouse space available to qualified tenants
    • Public water supply
    • Forced‑air heating and shingle roof
    • Parking lot on‑site; year built 1971

    Overview

    This offering provides auxiliary warehouse space within a mixed-use commercial property that is currently undergoing a complete renovation. Public remarks indicate facade upgrades associated with the Washington Plaza branding, with the project completion targeted for September 2025. The property sits on a 1.66-acre lot and totals 22,500 square feet. Space availability ranges from 1,600 to 22,000 square feet for qualified tenants.

    The property is located in Washington Township, just north of the 26 Mile Retail Corridor. The address for the site is 58531-58625 Van Dyke Avenue, Washington Twp, MI 48094, within Macomb County.

    This configuration can fit tenants looking for warehouse-support space during a scheduled renovation period. The availability range supports a variety of occupancy needs, from smaller allocations to larger warehouse footprints, subject to qualification and the final layout for the renovated building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Similar Places Nearby

    • Self Storage Max — 58968 Van Dyke Ave, Washington, MI 48094

    Map

    City
    Washington Twp
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0348
    Latitude
    42.7375

    Nearby Similar for Lease

    • $3,027/Mo
      1,300 SF

      Redeveloped Rite Aid Convenience Site

      For lease retail space next to a fuel station and convenience store on a busy corner south of downtown Romeo.
      66998 Van Dyke Avenue, Washington Twp, MI 48905
      View Details
    • $2,393/Mo
      1,600 SF

      Auxiliary Warehouse Space

      Auxiliary warehouse space available in a building undergoing complete renovation scheduled for September 2025.
      58531-58625 Van Dyke Avenue, Washington Twp, MI 48094
      View Details
    • $6,250/Mo
      2,500 SF

      Turnkey Restaurant Outlot Suite

      Turnkey restaurant on an outlot to Meijer near major retailers and close to M-53 and 26 Mile Road.
      57336 Van Dyke Avenue, Washington Twp, MI 48094
      View Details

    FAQs

    What type of property is this?
    Warehouse - Auxiliary warehouse space is available in a building undergoing complete renovation, with completion targeted for September 2025.
    Where is this warehouse located?
    The property is located at 58531-58625 Van Dyke Avenue Washington Twp, MI.
    What is the lease rate?
    The lease rate is $33,656.
    What are key features of this property?
    This property features: Former Hampton House at Washington Plaza, with facade upgrade and complete building renovation underway; Renovation completion targeted for September 2025; 1600 to 22,000 SF available, with auxiliary warehouse space available to qualified tenants
    (586) 243-3488
    We can help!
    Listing Contact
    Boyd C. Kraft
    Boyd C. Kraft
    Real Estate License ID: 6506047213
    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
    58531-58625 Van Dyke Avenue, Washington Twp, MI 48094
    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!