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    64660-64992 Van Dyke Rd Washington, MI 48095
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    64660-64992 Van Dyke Rd, Washington, MI 48095

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    • Neighborhood centers
    • 92,450 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 64660-64992 Van Dyke Rd

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Orchard Square, a multi-tenant retail strip center located at 64660-64992 Van Dyke Road in Washington Township, Michigan, presents a leasing opportunity. This prime retail space, situated in Macomb County, offers 1,200 square feet of vacant space within a larger 92,450 square foot building. The property's address is conveniently located at 42.7704859 latitude and -83.016858 longitude. The property type is retail, specifically a strip center, making it ideal for a variety of businesses seeking high visibility and convenient access. The existing tenancy is multi-tenant, suggesting a vibrant and established commercial environment. The available space is ready for immediate occupancy, providing an excellent chance for businesses to establish or expand their presence in a thriving community. With its strategic location and ample square footage, this property offers significant potential for growth and success. The zip code for this property is 48095. This is a rare opportunity to secure retail space in a well-established center. Interested parties should inquire promptly.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0169
    Latitude
    42.7705

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

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      66020 Van Dyke Ave, Washington, MI 48095
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      14,639 SF

      63033 Van Dyke Ave

      Restaurants
      63033 Van Dyke Ave, Washington, MI 48095
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      1,734 SF

      67280 Van Dyke Ave

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      67280 Van Dyke Ave, Washington, MI 48095
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    • Value Estimation by Request
      20,989 SF

      65800 Van Dyke Ave

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      65800 Van Dyke Ave, Washington, MI 48095
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    • Value Estimation by Request
      11,180 SF

      66998 Van Dyke Ave

      Retail properties & Spaces
      66998 Van Dyke Ave, Washington, MI 48095
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    • Value Estimation
      $4,125,000
      72,025 SF

      66011 Van Dyke Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      66011 Van Dyke Rd, Washington, MI 48095-2002
      View Details

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      71,309 SF

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      71,309 SF

      Romeo Village Shopping Center

      Fully occupied shopping center with strong tenant performance in Washington.
      66030-66152 Van Dyke Rd, Washington, MI 48095
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      Acre Commercial Land For Sale

      One acre commercial land development opportunity in Washington Township.
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    • $134,900

      Waterfront Land Near Stony Creek

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      13.00 Acres

      13 Acres Vacant Land

      13 acres of vacant land with utilities available.
      31 31 Mile Rd, Washington Twp, MI 48095
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    Similar Nearby for Lease

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      Commercial Space For Lease

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      Van Dyke Retail/Office Opportunity

      Free-standing building in Washington Twp with drive-through and parking.
      63033 Van Dyke Ave, Washington, MI 48095
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      Retail Space Anchored by Kroger

      Retail space in Washington Township, anchored by Kroger.
      64660-64992 Van Dyke Rd, Washington, MI 48095
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      Land and Retail Space Available

      Land and retail space for lease in Washington, Michigan.
      65575 Van Dyke Ave, Washington, MI 48095
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      Retail Space in Frontier Town

      Freestanding building in a high-visibility tourist area.
      67280 Van Dyke Ave, Washington, MI 48095
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    Washington, MI 48095
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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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