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    8260 23 Mile Rd Shelby Township, MI 48316

    For Lease
    $12 SF/Yr

    High-traffic Shelby Twp retail space available

    Lot size:
    59,946 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    Shelby Plaza Shopping Center, located at 8260 23 Mile Rd in Shelby Township, MI 48316, presents a compelling investment opportunity. This established retail center boasts a total of 59,946 square feet of leasable space, currently featuring a diverse mix of tenants including Planet Fitness, Advance Auto, and Subway. The center offers excellent visibility and accessibility from a high-traffic location within the heart of Shelby Township. Currently, there is 8,600 square feet of vacant space available, divisible into units as small as 2,000 square feet, with a maximum contiguous space of 6,600 square feet. This flexibility allows for a variety of tenant configurations, catering to both smaller businesses seeking a foothold and larger enterprises requiring more substantial space. The property's strategic location within a thriving commercial area ensures high foot traffic and strong visibility, making it an ideal location for businesses seeking to establish or expand their presence in the Shelby Township market. The existing tenant mix provides a strong foundation for future growth and stability, creating a desirable environment for new businesses to thrive. This is a rare opportunity to acquire a well-positioned retail property in a prime location with significant potential for increased revenue and return on investment. The available space presents a unique chance to capitalize on the existing success of the center and contribute to its continued growth.

    Property Features for 8260 23 Mile Rd

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    59,946 SF
    Total Rate
    59946

    Unit(s) available at that property

    Space
    Former Real Estate Office
    Size
    2,400 SF
    Rate per SF
    $12
    Space
    8174 23 Mile Road
    Size
    2,400 SF
    Rate per SF
    $12
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby Township
    County
    Macomb
    State
    Michigan
    Longitude
    -83.03270299
    Latitude
    42.66908983

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    FAQs

    What type of property is this?
    Neighborhood center - High-traffic Shelby Twp retail space available
    Where is this neighborhood center located?
    The property is located at 8260 23 Mile Rd Shelby Township, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    Request Owner's contact information
    8260 23 Mile Rd Shelby Township, MI 48316
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    Shelby Township, MI 48316
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    Realmo Value Estimation

    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.

    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.

    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
    8260 23 Mile Rd Shelby Township, MI 48316
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