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    44725-44955 Schoenherr Rd Sterling Heights, MI 48313

    Sponsored
    For Lease
    Contact for pricing

    Prime Retail Space Available, Macomb County

    Lot size:
    34,168 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional retail property, located at 44725-44955 Schoenherr Rd in Sterling Heights, Michigan, offers 34,168 square feet of prime commercial space. Currently, 37,796 square feet is available for lease, providing multiple leasing opportunities. The property is ideally suited for a variety of retail businesses, with spaces ranging from a minimum of 3,630 square feet to a maximum contiguous space of 7,320 square feet. Seven individual spaces are available, allowing for flexibility in tenant needs. Situated in Macomb County, this location benefits from excellent visibility and accessibility, making it an attractive option for businesses seeking high foot traffic and convenient access for customers. The property's address is 44725-44955 Schoenherr Rd, Sterling Heights, MI 48313. This is a multi-tenant retail building offering a unique chance to establish or expand your business in a thriving commercial area. The property's size and layout provide ample opportunity for customization to meet specific business requirements. With its strategic location and significant available space, this retail center presents a compelling investment opportunity. Contact us today to learn more about leasing options and explore the possibilities this property offers.

    Property Features for 44725-44955 Schoenherr Rd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    34,168 SF

    Unit(s) available at that property

    Space
    Suite A-110
    Size
    4,426 SF
    Space
    Suite A-116
    Size
    3,630 SF
    Space
    Suite A-118
    Size
    3,690 SF
    Space
    Suite B-100
    Size
    5,625 SF
    Space
    Hall Road Frontage: (outlot)
    Size
    7,480 SF
    Space
    Hall Road Frontage
    Size
    5,625 SF
    Space
    Schoenherr Road Frontage
    Size
    7,320 SF

    HighLights

    • High‑profile retail center anchored by Hobby Lobby, Advance Auto Parts, DSW, Cycle Gear, and Office Depot at the southwest corner of Hall Road (M‑59) and Schoenherr Road.
    • Located in the high‑performing Hall Road retail corridor, a top‑performing area in Metro Detroit.
    • Benefits from high traffic counts, strong daytime and residential population, and diverse demographics.
    • Clinton Valley submarket shows robust leasing activity, recently adding Advance Auto Parts and Cycle Gear (projected Q4 2023 opening).
    • Offers excellent visibility and accessibility with prominent signage on Hall Road and Schoenherr Road.
    • Ideal for restaurants, service retailers, or medical offices.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Sterling Heights
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9956796
    Latitude
    42.6238114

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    FAQs

    What type of property is this?
    Retail property - Prime Retail Space Available, Macomb County
    Where is this retail property located?
    The property is located at 44725-44955 Schoenherr Rd Sterling Heights, MI.
    What are key features of this property?
    This property features: High-profile retail center anchored by Hobby Lobby, Advance Auto Parts, DSW, Cycle Gear, and Office Depot at the southwest corner of Hall Road (M-59) and Schoenherr Road.; Located in the high-performing Hall Road retail corridor, a top-performing area in Metro Detroit.; Benefits from high traffic counts, strong daytime and residential population, and diverse demographics.
    Request Owner's contact information
    44725-44955 Schoenherr Rd Sterling Heights, MI 48313
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    Sterling Heights, MI 48313
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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
    44725-44955 Schoenherr Rd Sterling Heights, MI 48313
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