Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    31216 Warren Rd Westland, MI 48185

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Westland Retail Space Available

    Lot size:
    28,000 SF

    Property Features for 31216 Warren Rd

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    28,000 SF
    Total Rate
    29166.67

    Spaces For Lease

    at 31216 Warren Rd, Westland, MI 48185 Contact us
    Unit Available Space

    $15 /Mo

    Size
    28,000 SF
    Contact us

    We can help!

    Listing Contact
    Arthur Itkis
    Arthur Itkis

    Listing Agency: Colliers - Royal Oak/Detroit, Michigan Listing Agent: Arthur Itkis

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

    Learn more

    Overview

    This exceptional retail opportunity presents the entire 28,000 square foot Merriman-Warren Shopping Center, located at 31216-31246 Warren Road in Westland, Michigan, 48185, within Wayne County. Currently, the entire center is available for lease, offering a unique chance to establish a significant presence in a thriving Westland community. The property is classified as a multi-tenant shopping center, providing flexibility for various retail concepts. Individual spaces can be leased starting at 900 square feet, allowing for customization to suit specific business needs. However, the entire 28,000 square feet is also available for lease to a single tenant seeking a large, contiguous space. This presents a rare opportunity for a business looking to establish a flagship location or consolidate operations. The property's strategic location on Warren Road offers high visibility and accessibility, ensuring significant foot traffic and convenient access for customers. This is an ideal location for businesses seeking a prominent presence in a busy commercial area of Westland, Michigan. The property is ready for immediate occupancy. Interested parties should inquire for lease terms and conditions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    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
    Westland
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3494046
    Latitude
    42.3387135

    Nearby Similar for Lease

    • $5,000 /Mo
      4,395 SF

      Westland Commercial Building with Lot

      Commercial building with additional lot in Westland, Michigan.
      27427 Joy Rd, Westland, MI 48185
      View Details
    • $650 /Mo
      1,550 SF

      Westland Office Space with Amenities

      Office space with shared amenities and unique perks included.
      6572 Commerce Blvd, Westland, MI 48185
      View Details
    • $1,500 /Mo
      1,779 SF

      Westland Commercial Space on Wayne

      1,779 sq ft retail/office space on high-visibility S Wayne Road.
      1630 S Wayne Rd, Westland, MI 48186
      View Details
    • $1,500 /Mo
      2,828 SF

      Westland Commercial Space on Wayne

      Move-in ready commercial space suitable for retail or office use.
      1638 S Wayne Rd, Westland, MI 48186
      View Details
    • New
      $16 SF/Yr
      36,860 SF

      Westland Retail Space For Lease

      Retail spaces available in Westland, anchored by Kroger.
      31260 Michigan Ave, Westland, MI 48186
      View Details
    • $2,300 /Mo
      1,500 SF

      Westland Retail/Office/Medical Space Available

      1500 sq ft retail/office/medical space for lease in Westland.
      36403 Warren Rd, Westland, MI 48185
      View Details
    • $1,200 /Mo
      5,088 SF

      Retail Space on Warren Road

      Retail space for lease on busy Warren Rd, Westland, MI.
      28900 Warren Rd Rd, Westland, MI 48185
      View Details
    • $2,000 /Mo

      Retail Space on S Wayne

      2,000 sq ft retail space in high-traffic area.
      920 S Wayne Rd, Westland, MI 48186
      View Details
    • $1,250 /Mo

      Retail Space on Wayne Road

      Retail spaces available in prime Westland location.
      1924 N Wayne Rd, Westland, MI 48185
      View Details
    • $1,470 /Mo

      Retail Space in Hunter Park

      Turn-key retail unit in high-traffic shopping center.
      32888 Warren Rd, Westland, MI 48185
      View Details
    • $3,000 /Mo

      New Construction Retail Endcap Unit

      New construction retail unit with excellent visibility and parking.
      35211 Ford Rd, Westland, MI 48185
      View Details
    • $2,000 /Mo

      Westland Commercial Space For Lease

      Commercial space suitable for medical, dental, or general office use.
      1678 S Merriman Rd, Westland, MI 48186
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Prime Westland Retail Space Available
    Where is this lifestyle center located?
    The property is located at 31216 Warren Rd Westland, MI.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Newly renovated shopping center with new ownership.; Complete renovation including new roof, parking lot, façade, and pylon sign.; Ideal for retail, office, or medical tenants.
    (248) 226-1676 Call to check price and availability
    Request Owner's contact information
    31216 Warren Rd Westland, MI 48185
    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.
    31216 Warren Rd
    Westland, MI 48185
    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
    31216 Warren Rd Westland, MI 48185
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Arthur Itkis
    Arthur Itkis
    (248) 226-1676 (248) 798-9055
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!