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    20419 Mack Ave Grosse Pointe Woods, MI 48236

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    For Sale
    Contact for pricing

    Prime Mack Ave location, vacant, 3,278 SF.

    Property size:
    3,278 SF

    Property Features for 20419 Mack Ave

    General Information

    Property type
    Retail properties
    Square Feet
    3,278 SF
    Lot Size
    6,098 SF

    We can help!

    Listing Contact
    Louis J. Ciotti
    Louis J. Ciotti

    Listing Agency: Landmark Commercial Real Estate Services Listing Agent: Louis J. Ciotti

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail property, located at 20419 Mack Avenue in Grosse Pointe Woods, Michigan, presents a unique investment opportunity. The 3,278 square foot building sits on a 0.14-acre lot and is zoned C (Commercial), allowing for a variety of retail uses. Currently vacant, this freestanding structure offers significant visibility and a prominent street presence on a busy thoroughfare. A key advantage is the ample parking available, including six dedicated spaces and additional street parking. This makes it highly attractive to potential tenants seeking convenient access for customers. The asking price for this property is $925,000. The property is offered as a Net, Net, Net (NNN) lease, meaning the tenant is responsible for property taxes, insurance, and maintenance. Its location in the heart of Grosse Pointe Woods provides excellent access to a strong local customer base. The building's prominent image and ample parking make it an ideal location for a variety of retail businesses seeking high visibility and convenient customer access. This is a rare opportunity to acquire a well-positioned retail space in a desirable Michigan community. The property's size, location, and parking make it a compelling investment prospect. Serious inquiries are encouraged. The zip code is 48236, and the property is situated in Wayne County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Grosse Pointe Woods
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9081108
    Latitude
    42.4393642

    Nearby Similar for Sale

    • $439,000

      Gourmet Seafood Market For Sale

      Upscale seafood market with established clientele, Mack Avenue location.
      19531 Mack Ave Ave, Grosse Pointe Woods, MI 48236
      View Details
    • Contact for pricing
      3,278 SF

      Freestanding Building in Grosse Pointe

      Highly visible building with rare parking in Grosse Pointe Woods.
      20419 Mack Ave, Grosse Pointe Woods, MI
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime Mack Ave location, vacant, 3,278 SF.
    Where is this retail property located?
    The property is located at 20419 Mack Ave Grosse Pointe Woods, MI.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: $925,000 asking price for this vacant retail property.; 3,278 square feet on a 0.14-acre lot.; NNN lease type.
    (313) 570-2026 Call to check price and availability
    Request Owner's contact information
    20419 Mack Ave Grosse Pointe Woods, MI 48236
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    Grosse Pointe Woods, MI 48236
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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
    20419 Mack Ave Grosse Pointe Woods, MI 48236
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Louis J. Ciotti
    Louis J. Ciotti
    Real Estate License ID: 6501335264
    (313) 570-2026
    Learn more
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