Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Gratiot Avenue Development Opportunity Title is generated by Realmo AI

    58143 Gratiot Ave, New Haven, MI 48048

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land with frontage in a growing Macomb County area.

    Type:Land
    Added:
    Jun 19, 2024
    Days on Market:
    703
    Last Refresh:
    May 12 at 9:48 pm

    Property Features for 58143 Gratiot Ave

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Susan Blanchard

    Listing agent Susan Blanchard License #MI 6501370698

    Listing office Anton, Sowerby & Associates

    Listing date Jun 19, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Anton, Sowerby & Associates

    HighLights

    • Ready for development
    • 190 ft of Gratiot frontage
    • Rapid growth area of Macomb County
    • All utilities available
    • Surrounded by residential subdivisions and businesses
    • Great for many potential uses

    Overview

    This commercial land is ready for development and features 190 feet of frontage on Gratiot Avenue. Situated in a rapidly growing area of Macomb County, the property is surrounded by both residential subdivisions and established businesses. All utilities are available at the site, making it suitable for a variety of potential uses.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    Macomb
    State
    Michigan
    Longitude
    -82.793382
    Latitude
    42.72431

    Nearby Similar for Sale

    • $425,000

      Commercial Land on Gratiot Avenue

      6.93-acre commercial land with utilities in New Haven, Michigan.
      65002 Gratiot, New Haven, MI 48050
      View Details
    • $649,000
      2,300 SF

      Industrial Land with Renovated House

      Industrial development opportunity with renovated house on 10 acres.
      57291 Rosell, New Haven, MI 48048
      View Details
    • $369,999

      New Haven Vacant Land Parcel

      8.22 acre parcel suitable for residential or commercial development.
      0 Gratiot Vacant, New Haven, MI 48048
      View Details
    • $2,999,777

      60+ Acres Prime Land

      60.73 acres of land in Lenox Township, Macomb County.
      58651 Rosell, New Haven, MI 48048
      View Details
    • $899,998

      35-Acre Industrial Land Parcel

      Prime industrial land with railway access in New Haven, MI.
      0 Havenridge, New Haven, MI 48048
      View Details
    • $329,900

      Versatile Land Near Interstate-94

      Agricultural land with potential for rezoning near major retailers.
      28937 26 Mile Rd, New Haven, MI 48048
      View Details
    • $145,000
      6,400 SF

      Turnkey Neighborhood Market Opportunity

      Established grocery store in high-traffic area. Business opportunity.
      59069 Gratiot Avenue, New Haven Vlg, MI 48048
      View Details
    • $1,369,000
      12,808 SF

      Industrial Property with Drive-Thru Access

      Industrial property featuring drive-thru capabilities and ample outside storage.
      59230 Haven Ridge Rd, New Haven, MI 48048
      View Details
    • $49,900

      Residential Lot in Growing Community

      Half-acre residential lot ideal for custom home with walkout basement.
      000 Gratiot, New Haven, MI 48048
      View Details
    • $249,900

      Lenox Twp Industrial Land

      10 acres of light industrial land ready for development.
      S FOREST, Lenox Twp, MI 48050
      View Details
    • $799,000
      1,000 SF

      Gratiot Ave Commercial Property

      Commercial property for sale on Gratiot Ave, New Haven.
      65600 Gratiot Ave, New Haven, MI 48050
      View Details
    • Contact for pricing
      12,538 SF

      Gratiot Ave Flex/Industrial Space

      12,538 Sq. Ft. flex space with frontage.
      65700 Gratiot Ave, New Haven, MI 48050
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with frontage in a growing Macomb County area.
    Where is this commercial land located?
    The property is located at 58143 Gratiot Ave New Haven, MI.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Ready for development; 190 ft of Gratiot frontage; Rapid growth area of Macomb County
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Susan Blanchard
    Real Estate License ID: MI 6501370698
    Learn More
    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
    58143 Gratiot Ave, New Haven, MI 48048
    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!