Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    14420 15 Mile Rd Sterling Heights, MI 48312

    • Neighborhood centers
    • 8,000 SF
    • 0.98 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 14420 15 Mile Rd

    Year built
    1991
    Lot size
    0.98 lot acres
    Property size
    8,000 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Moravian Plaza, a well-maintained Class B shopping center in Macomb County, offers a prime 960 square foot executive office suite for lease. Located at the intersection of 15 Mile Road and Moravian, this single-story building boasts excellent visibility and accessibility. The property, encompassing 0.987 acres, features a total of 8,000 square feet of retail and office space, currently configured as multiple tenancies. This particular suite is immediately available and benefits from high-end finishes, a legacy of its previous use as a body spa. The building includes 55 parking spaces for ample tenant and customer convenience. Built in 1991, the property is zoned C-1, allowing for a variety of commercial uses. The suite's minimum divisible space is 960 square feet, making it ideal for a small business or professional office. The property's location and features make it an excellent opportunity for businesses seeking a well-maintained and visible space in a thriving commercial area. The parcel number is 10-10-36-202-025. No elevators are present in this single-story building.

    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
    -82.978
    Latitude
    42.5527

    Comparable in this City

    • 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
      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
      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

      & VAN DYKE Nec Of Metro Pkwy

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

    Similar Nearby for Sale

    • $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
    • 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
    • Contact for pricing
      4,997 SF

      Restaurant Pad in Sterling Ponds

      Restaurant pad located in Sterling Ponds Shopping Center.
      33785 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • Contact for pricing
      7,590 SF

      Medical/Dental/Office Conversion Opportunity

      Up to 7,590 SF available at 15 Mile/Schoenherr corner.
      34843-34863 Schoenherr Rd, Sterling Heights, MI 48312
      View Details
    • $2,200,000
      27,524 SF

      Sterling Heights Office Building For Sale

      Office building with renovation and expansion potential in Sterling Heights.
      8220 Irving Rd, Sterling Heights, MI 48312
      View Details
    • $299,900
      4,950 SF

      Salon & Medical Spa Business

      Established salon and spa business for sale in Sterling Heights.
      37824 Van Dyke Ave, Sterling Heights, MI 48312
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      7,000 SF

      Sterling Heights Executive Office Space

      1,400 SF Endcap Retail/Office Suite
      33740-33804 Schoenherr Rd, 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
    • 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
    • $16 SF/Yr
      7,000 SF

      Executive Office Suites, Sterling Heights

      Modern Office Space, 2,500 sq ft Available
      37308 Schoenherr Rd, Sterling Heights, MI 48312
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    14420 15 Mile Rd
    Sterling Heights, MI 48312
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.