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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    26117 Harper Ave St. Clair Shores, MI 48081

    • Retail properties
    • 3,260 SF
    • 0.16 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hurst Appliance / Home Appliance Store / Hardware & Home Improvement

    Property Details for 26117 Harper Ave

    Year built
    1956
    Lot size
    0.16 lot acres
    Property size
    3,260 SF
    Property type
    Retail properties
    Property subtype
    Office Properties & Spaces

    Description

    This exceptional 1,630 square foot executive office space is ideally situated at 26117 Harper Ave in St. Clair Shores, Michigan, 48081. Located on Harper Avenue, between 10 and 11 Mile Roads, this single-story, Class C building offers a prime location with excellent visibility and signage opportunities. Built in 1956, the property boasts a total of 3,260 square feet and sits on a 0.16-acre lot (0.161 acres according to the lot size). The entire building is currently vacant and available for immediate occupancy. The space features convenient double rear doors and a 4-foot-wide door directly off the parking lot, perfect for easy deliveries and accessibility. Ample parking is provided with 12 spaces available. The property is zoned B-1 and has a Macomb County APN of 09-14-22-329-045. This is a fantastic opportunity for a business seeking a well-located, readily available office space with professional landlord and management. The space is available November 1, 2024. Please note that the existing tenant should not be disturbed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    St. Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8993
    Latitude
    42.4856

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      26040 Harper Ave

      Retail properties • 5,000 SF
      26040 Harper Ave, St. Clair Shores, MI 48081
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    • Value Estimation by Request
      5,000 SF

      26030 Harper Ave

      Office Properties & Spaces • 5,000 SF
      26030 Harper Ave, St. Clair Shores, MI 48081
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    • Value Estimation by Request
      1,069 SF

      21610 11th Mile Rd Ste, Unit 4

      OFFICE BUILDING • 1,069 SF
      21610 11th Mile Rd Ste, Saint Clair Shores, MI 48081-1671
      View Details
    • Value Estimation
      $6,380,000
      44,450 SF

      20952 12th Mile Rd

      MEDICAL BUILDING • 44,450 SF
      20952 12th Mile Rd, Saint Clair Shores, MI 48081-3200
      View Details
    • Value Estimation by Request
      1,224 SF

      28406 Harper Ave

      OFFICE BUILDING • 1,224 SF
      28406 Harper Ave, Saint Clair Shores, MI 48081-1607
      View Details
    • Value Estimation by Request
      2,106 SF

      28915 Harper Ave

      OFFICE BUILDING • 2,106 SF
      28915 Harper Ave, Saint Clair Shores, MI 48081-1272
      View Details

    Similar Nearby for Sale

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      Professional Office Building For Sale

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      Medical Office Building For Sale

      Two-tenant medical office building, 15,566 SF, fully occupied.
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      15,566 SF

      Saint Clair Shores Office Building

      15,566 SF office building in Saint Clair Shores.
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    Similar Nearby for Lease

    • $9 SF/Yr
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      St. Clair Shores Executive Office Space

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    • $1,100 /Mo

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    • $1,500 /Mo
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      Updated Office or Retail Space

      Renovated 1,224 sq ft office/retail space in St. Clair Shores.
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      1,850 SF

      Medical Office Space Available

      Renovated medical office space with five plumbed exam rooms.
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    • $15 SF/Yr
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      Office Suite For Lease

      Office suite with private offices, ideal for counseling-therapy use.
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    • Contact for pricing
      2,250 SF

      Medical Office Space Available

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      25515 Harper Ave, Saint Clair Shores, MI 48081
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    St. Clair Shores, MI 48081
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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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