Freestanding Office/Retail Building For
For Sale
Contact for pricing
36366 Groesbeck Hwy, Clinton Township, MI 48035
Freestanding office/retail building with large signage and easy highway access.
Property Size2,430 SF
Lot Size0.50 Acres
Price / SF$148.11
Days on Market692
Property Features for 36366 Groesbeck Hwy
General Information
Standard status
Active
Size
2,430 SF
Class
B
Total Parking Spaces
10
Lot size
0.50 Acres
Property subtype
Office, Retail
Zoning
B-3
Investment Type
Owner/User
Building Details
Year Built
1969
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Pilot Property Group
(586) 873-5419
Listed By:
James Diehl · License #MI 6501368863
Source:
Crexi
Added: Sep 28, 2024
Changed: Aug 14
Last Checked: Aug 20 at 4:04PM
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 Pilot Property Group
Investment Insights
Based on property information with market context.
This freestanding building is suitable for office or retail use and is situated on a parcel of just over half an acre. The property features large pole signage. A new HVAC system was installed in 2020, and a new hot water tank was installed in 2021. The building offers convenient access to Metropolitan Parkway (16 Mile Rd) and I-94.
Key Highlights
- Freestanding Office/Retail building
- Just over a half‑acre parcel
- Easy access to Metropolitan Parkway (16 Mile Rd) and I‑94
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,963
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$359,260
$359.3K
Cap Rate 7%
$256,614
$256.6K
Cap Rate 9%
$199,589
$199.6K
Market Conditions
NOI Build-Up for 2,430 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.2K $12.00/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$25.7K $10.56/SF
− OpEx
−$7.7K −$3.17/SF
NOI
$18.0K $7.39/SF
Area
Macomb County, MI
Vacancy
12.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$359,260
Cap Rate 7%
$256,614
Cap Rate 9%
$199,589
Alternative Uses
Best Use
Retail
$256.6K
$224.5K – $299.4K
NOI $17,963 @ 7.0% cap · market cap 4.99%
Second Best
Office B
$119.5K
$104.6K – $139.4K
NOI $8,365 @ 7.0% cap · market cap 2.32%
Theoretical Best
Specialty Retail
$454.9K
$398.1K – $530.8K
NOI $31,845 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48035, MI
34,018
Population
15,615
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
3,866
Density / Sq Mi
$69,245
Median Household Income
$41,167
Median Earnings
$1,111
Median Rent
$181,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Integrity SIG, LLC — 37244 S Groesbeck Hwy, Clinton Twp, MI 48036
Frequently Asked Questions
What type of property is this?
Office space - Freestanding office/retail building with large signage and easy highway access.
Where is this office space located?
The property is located at 36366 Groesbeck Hwy Clinton Township, MI.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Freestanding Office/Retail building; Just over a half‑acre parcel; Easy access to Metropolitan Parkway (16 Mile Rd) and I‑94
