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    Retail Storefront with Rear Parking Title is generated by Realmo AI

    8302 12 Mile Avenue, Warren, MI 48093

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    For Lease
    $1,200/Mo $15 SF/Yr (calc)

    COMMERCIAL - Warren, MI

    Property size:
    940 SF
    Added:
    Mar 19, 2025
    Days on Market:
    444
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 8302 12 Mile Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active
    APN
    1315105006
    Size
    940 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1976
    Roof type
    Flat

    We can help!

    Listing Contact
    John A. Demske

    Listing agent John A. Demske License #6501316265

    Listing office RE/MAX First 48617 Hayes, Clitnon Twp, MI

    Listing date Mar 19, 2025

    MLS# 50169107

    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

    • Directly across from the Walmart complex with strong exposure on 12 Mile Rd
    • Easy access to I‑696 via east access and simple in‑and‑out parking behind the building
    • Central air and forced‑air heating
    • Flat roof; public water supply
    • Year built 1976
    • Basement included, with additional storage or usable space

    Overview

    This retail storefront offers a practical, street-facing setup for retail and service users, with a full basement included for storage or additional use. The configuration supports straightforward merchandising and day-to-day operations, and the space is available for immediate occupancy.

    The property is located at 8302 12 Mile Avenue in Warren, directly across from the Walmart complex. It sits on 12 Mile Road near the G.M. Tech Center, with east access to I-696. Parking is available behind the building, supporting easy in-and-out access for customers.

    The space is well suited for tenants looking to serve retail or service traffic with convenient parking and built-in storage through the full basement. The landlord is also offering rental incentives, including two free months with a 2-year or longer lease term, which can help reduce near-term occupancy costs.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Similar Places Nearby

    • Morning Glory Florist — 29210 Hoover Rd, Warren, MI 48093

    Map

    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -83.023875
    Latitude
    42.506441

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    FAQs

    What type of property is this?
    Storefront property - Storefront retail space with a full basement and convenient rear parking for straightforward customer access.
    Where is this storefront property located?
    The property is located at 8302 12 Mile Avenue Warren, MI.
    What is the lease rate?
    The lease rate is $1,200 /Mo.
    What are key features of this property?
    This property features: Directly across from the Walmart complex with strong exposure on 12 Mile Rd; Easy access to I‑696 via east access and simple in‑and‑out parking behind the building; Central air and forced‑air heating
    (586) 405-0874
    We can help!
    Listing Contact
    John A. Demske
    Real Estate License ID: 6501316265
    Learn More
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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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