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    & VAN DYKE Nec Of Metro Pkwy Sterling Heights, MI 48312

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for & VAN DYKE Nec Of Metro Pkwy

    Property type
    Retail properties
    Property subtype
    Land

    Description

    This exceptional redevelopment opportunity sits at one of Macomb County's busiest intersections, boasting combined daily traffic counts exceeding 106,000 vehicles. Anchored by Home Depot and Meijer, this location offers unparalleled visibility and access within an established, high-traffic trading area. The project features a brand-new, street-side retail center with available pad sites on the hard corner, providing immediate exposure for businesses. Currently, 1,600 square feet of vacant retail space is available for lease, perfect for a variety of commercial uses. Beyond the immediate opportunity, a comprehensive concept plan outlines potential for further development on the land north of Home Depot, accommodating users up to 102,500 square feet. This expansion presents a unique chance to capitalize on the significant growth and high volume of traffic in this thriving commercial area. The property is zoned for commercial use and is located in Macomb County. This is a prime location for businesses seeking high visibility and strong sales potential in a rapidly transforming retail environment. The redevelopment project offers a chance to be part of a dynamic and successful commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sterling Heights
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0298
    Latitude
    42.5658

    Comparable in this City

    • Value Estimation by Request
      4,997 SF

      33875 Van Dyke Ave

      Restaurants • 4,997 SF
      33875 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • Value Estimation by Request
      29,550 SF

      37502-37586 Van Dyke Ave

      Automotive properties • 29,550 SF
      37502-37586 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • Value Estimation by Request
      7,000 SF

      33740-33804 Schoenherr Rd

      Lifestyle centers • 7,000 SF
      33740-33804 Schoenherr Rd, Sterling Heights, MI 48312
      View Details
    • Value Estimation by Request
      15,000 SF

      35824-35836 Van Dyke Ave

      Neighborhood centers • 15,000 SF
      35824-35836 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • Value Estimation by Request
      11,275 SF

      35101-35145 Dodge Park Rd

      Office space • 11,275 SF
      35101-35145 Dodge Park Rd, Sterling Heights, MI 48312
      View Details
    • Value Estimation by Request
      8,000 SF

      14420 15 Mile Rd

      Neighborhood centers • 8,000 SF
      14420 15 Mile Rd, Sterling Heights, MI 48312
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9.03 Acres

      Sterling Heights Retail Land Opportunity

      9.03-acre Walmart Outlot, High Traffic
      33201 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • $1,300,000
      13.76 Acres

      Sterling Heights Commercial Land

      13.76 Acres, High-Visibility Retail Site
      37217 Utica Rd, Sterling Heights, MI 48312
      View Details
    • $495,000
      1.31 Acres

      1.3 Acres Sterling Heights Commercial Land

      Prime 1.3-acre commercial lot, ideal for development.
      7700 15 Mile Rd, Sterling Heights, MI 48312
      View Details
    • $1,900,000
      3.85 Acres

      Sterling Heights Commercial Land Opportunity

      Prime Van Dyke Ave. lot, ready to build.
      33879 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • $295,000
      2.50 Acres

      Sterling Heights Commercial Land

      2.5-acre commercial lot, prime location.
      7251 14 Mile Rd, Sterling Heights, MI 48312
      View Details
    • $990,000
      4,997 SF

      Prime Sterling Heights Restaurant Space

      Vacant IHOP, 4,997 SF, High Visibility
      33875 Van Dyke Ave, Sterling Heights, MI 48312
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      108,900 SF

      Sterling Heights Retail Land Opportunity

      2.5 Acres, Prime Retail Location
      7251 14 Mile Rd, Sterling Heights, MI 48312
      View Details
    • $8 SF/Yr
      31,333 SF

      Sterling Heights Retail Center

      High-traffic retail space available.
      34911 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • $15 SF/Yr
      19,256 SF

      Sterling Heights Executive Office Space

      Prime Utica Road location, ample parking.
      38121 Utica Rd, Sterling Heights, MI 48312
      View Details
    • $12 SF/Yr
      11,275 SF

      Sterling Heights Creative Office Space

      11,275 SF Creative Office, Ample Parking
      35101-35145 Dodge Park Rd, Sterling Heights, MI 48312
      View Details
    • $4,125 /Mo

      Retail Space Near Golf Course

      Retail spaces available in plaza near Rambler Gold Course.
      38169 Utica Rd, Sterling Heights, MI 48312
      View Details
    • $2,737 /Mo

      Retail Space with Ample Parking

      Retail spaces available for rent with excellent parking.
      35135 Dodge Park Rd, Sterling Heights, MI 48312
      View Details
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    Sterling Heights, MI 48312
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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
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