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    Multi-Tenant Office Building Title is generated by Realmo AI

    58540 Van Dyke Avenue, Washington, MI 48084

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    For Sale
    $975,000

    COMMERCIAL - Washington, MI

    Property size:
    7,512 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $129/SF
    Added:
    May 4, 2026
    Days on Market:
    32
    Last Refresh:
    Jun 4 at 11:06 am

    Property Features for 58540 Van Dyke Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    24-04-34-151-002
    Size
    7,512 SF
    Lot size
    0.22 Acres

    Utilities

    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    2000
    Roof type
    Asphalt

    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 May 4, 2026

    MLS# 50206409

    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

    • 10‑unit multi‑tenant office building; 100% occupied (per public remarks).
    • Completely renovated in 2000; C of O in 2000.
    • High‑efficiency HVAC with 12 rooftop units replaced in 2022.
    • Roof replaced in 2020; asphalt parking lot replaced in 2023 and resealed in 2026.
    • 15 parking spaces plus an extra parking agreement providing an additional 60 spaces.
    • Public water and oil heat; added elevator in 2000 and security camera/alarm system with automatic door locks.

    Overview

    This 10-unit, multi-tenant office building was completely renovated in 2000, with a certificate of occupancy issued the same year. The property is described as updated for low maintenance, with a mix of modern building infrastructure including new mechanical systems. Improvements include a roof replacement in 2020, and high-efficiency HVAC with 12 rooftop units replaced in 2022. A new boiler was added in 2020 to support heated sidewalks/walkway and radiant heating in the lower level. Additional upgrades include air duct filtration cleaning (RGF cleaners) in 2021, and an elevator added in 2000. Building security and access are supported by a camera and alarm system, automatic door locks, and a T-1 line for communications.

    The property is located at 58540 Van Dyke Avenue in Washington, Michigan 48084 (Macomb County). It has 15 parking spaces on site, along with an additional parking agreement in place that provides approximately 60 more spaces.

    The building is currently described as 100% occupied, offering an established tenant mix within a professionally upgraded office asset. For qualified buyers, a land contract is noted as available. Recent exterior and system refreshes, including the parking lot replacement in 2023 and resealing in 2026, are positioned to support straightforward ongoing operations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Auto Repair Shop Gym & Fitness Center Pharmacy Auto Parts Store Skin Care Clinic Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Macomb
    State
    Michigan
    Longitude
    -83.1757
    Latitude
    42.5607

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    FAQs

    What type of property is this?
    Office building - Completely renovated 10-unit office building with modern building systems and strong on-site parking capacity.
    Where is this office building located?
    The property is located at 58540 Van Dyke Avenue Washington, MI.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: 10‑unit multi‑tenant office building; 100% occupied (per public remarks).; Completely renovated in 2000; C of O in 2000.; High‑efficiency HVAC with 12 rooftop units replaced in 2022.
    (586) 243-3488
    We can help!
    Listing Contact
    Boyd C. Kraft
    Boyd C. Kraft
    Real Estate License ID: 6506047213
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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.

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