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    6700-6800 10 Mile Rd Center Line, MI 48015
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    6700-6800 10 Mile Rd Center Line, MI 48015

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    • Retail properties & Spaces
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    • Retail properties & Spaces

    Property Details for 6700-6800 10 Mile Rd

    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    Fretter Plaza offers a prime retail and office space opportunity in the thriving Center Line, Michigan market. This single-story, 1-building complex is zoned B-3, General Business, and boasts 1,160 square feet of immediately available space within a bustling neighborhood shopping center. The property enjoys exceptional visibility due to its location at the southeast corner of 10 Mile Road and Sherwood, just east of Mound Road and west of Van Dyke Avenue, with a prominent pylon sign on 10 Mile Road. Current tenants include Olympic Coney Grill, Burger One, E.L.I., Moe's Head Shop, Smokers Ultra, and My Care Health Center, creating a strong synergy and established customer base. Ample parking is available, catering to both retail customers and office employees. The property's strategic location provides easy access to I-696 via Mound Road, making it convenient for commuters and customers alike. This location benefits from a dense residential population, providing a ready-made customer base for retail businesses. Highly competitive rental rates are available. This is an exceptional opportunity to establish a presence in a vibrant and accessible commercial center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Center Line
    County
    Macomb
    State
    Michigan
    Longitude
    -83.036
    Latitude
    42.4773

    Comparable in this City

    • Value Estimation by Request
      7,000 SF

      26674 Liberal St

      Individual retail properties • 7,000 SF
      26674 Liberal St, Center Line, MI 48015
      View Details
    • Value Estimation by Request
      2,380 SF

      24650 Van Dyke Ave

      DENTAL BUILDING • 2,380 SF
      24650 Van Dyke Ave, Center Line, MI 48015-1321
      View Details
    • Value Estimation by Request
      1,984 SF

      23968 Sherwood

      RETAIL STORES (PERSONAL SERVICES) • 1,984 SF
      23968 Sherwood, Center Line, MI 48015-2010
      View Details
    • Value Estimation by Request
      1,830 SF

      24564 Van Dyke Ave

      RESTAURANT • 1,830 SF
      24564 Van Dyke Ave, Center Line, MI 48015-1319
      View Details
    • Value Estimation by Request
      0.12 Acres

      Bernice

      VACANT COMMERCIAL LAND • 0.12 Acres
      Bernice, Center Line, MI 48015
      View Details
    • Value Estimation by Request
      0.28 Acres

      Central

      VACANT COMMERCIAL LAND • 0.28 Acres
      Central, Center Line, MI 48015
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Office Space Available For Sale

      Office property for sale at 23845 Van Dyke, Center Line.
      23845 Van Dyke Ave, Center Line, MI 48015
      View Details
    • Contact for pricing
      3,512 SF

      Van Dyke Avenue Commercial Property

      Freestanding building on Van Dyke with high exposure and parking.
      24055 Van Dyke Ave, Center Line, MI 48015
      View Details
    • Contact for pricing
      2,552 SF

      Single Tenant Dental Office Investment

      Leased dental office in Center Line, Michigan, Detroit MSA.
      23845 Van Dyke Ave, Center Line, MI 48015
      View Details
    • Contact for pricing
      14,776 SF

      Industrial Investment Opportunity For Sale

      Well-maintained industrial property with truck parking and tenant in place.
      24650 Sherwood Ave, Center Line, MI 48015
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,484 SF

      Retail Space in Center Line

      Retail space available in a busy shopping center.
      25225 Van Dyke Ave, Center Line, MI 48015
      View Details
    • Contact for pricing

      Retail Space on Heavily Trafficked Corner

      Retail space available on a heavily trafficked corner.
      25005 Van Dyke Ave, Center Line, MI 48015
      View Details
    • Contact for pricing

      Van Dyke Retail Opportunity

      Retail and automotive spaces available on Van Dyke.
      25005-25029 Van Dyke Ave, Center Line, MI 48015
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      25225 Van Dyke Ave, Center Line, MI 48015
      View Details
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    Center Line, MI 48015
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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.

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