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    7400 Lewis Ave Temperance, MI 48182

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    For Lease
    Contact for pricing

    High-traffic retail space, two units available.

    Lot size:
    16,293 SF

    Property Features for 7400 Lewis Ave

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,293 SF
    Total Rate
    16293

    Spaces For Lease

    at 7400 Lewis Ave, Temperance, MI 48182 Contact us
    Unit Suite D2A

    $12 /Mo

    Size
    1,436 SF
    Contact us
    Unit Suite H

    $12 /Mo

    Size
    1,107 SF
    Contact us

    We can help!

    Listing Contact
    Joe Belinske
    Joe Belinske

    Listing Agency: Reichle | Klein Group Listing Agent: Joe Belinske

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail opportunity is located at 7400 Lewis Avenue in Temperance, Michigan, within the bustling Monroe County. The property is a strip center totaling 16,293 square feet, offering two immediately available spaces. Unit D2A boasts 1,436 square feet and is a vanilla-shell space, ready for tenant build-out. Unit H comprises 1,107 square feet and offers immediate occupancy potential. The center enjoys a prime location at the northeast corner of Lewis Avenue and Sterns Road, benefiting from exceptional visibility and high traffic counts. Lewis Avenue sees 12,200 vehicles daily, while Sterns Road registers 10,900 vehicles daily. This strategic position places the property less than two miles from the Ohio/Michigan state line, expanding its potential customer base. The property is anchored by a strong mix of established businesses, including Subway, Wing Station, Marco's Pizza, Hair Express, Bedford Coin, China King, and CoCo House, creating a vibrant and attractive retail environment. This is an ideal opportunity for businesses seeking high visibility and access to a substantial customer base in a thriving commercial area. The property is classified as a retail strip center with multiple tenancies.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bedford Coin & Jewelry ... (Bike/Boat/Book/etc) Store Cocoa House Lounge Bar & Pub Subway Take-out & Catering Hair Express Hair Salon Marco's Pizza Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Temperance
    County
    Monroe
    State
    Michigan
    Longitude
    -83.5669278
    Latitude
    41.7509156

    Nearby Similar for Lease

    • Contact for pricing
      1,500 SF

      Retail Space in Bedford Plaza

      Retail space for lease in Temperance, Michigan's Bedford Plaza.
      7200 Lewis Ave, Temperance, MI 48182
      View Details
    • $12 SF/Yr
      15,000 SF

      Temperance Retail Center

      15,000 SF Shopping Center, 1,000 SF Vacant
      7200 Lewis Ave, Temperance, MI 48182
      View Details

    FAQs

    What type of property is this?
    Neighborhood center - High-traffic retail space, two units available.
    Where is this neighborhood center located?
    The property is located at 7400 Lewis Ave Temperance, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: High-traffic location on Lewis Avenue with excellent visibility.; 10,000+ square feet of versatile commercial space, ideal for various uses.; Ample on-site parking available for tenants and customers.
    (419) 794-6045 Call to check price and availability
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    7400 Lewis Ave Temperance, MI 48182
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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
    7400 Lewis Ave Temperance, MI 48182
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Joe Belinske
    Joe Belinske
    Real Estate License ID: 0000320016
    (419) 794-6045 (419) 367-1001 (419) 861-1100
    Learn more
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