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    15555 Mile Rd Roseville, MI 48066
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    15555 Mile Rd, Roseville, MI 48066

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    • Warehouses
    • 24,950 SF
    • 1.38 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 15555 Mile Rd

    Year built
    1978
    Lot size
    1.38 lot acres
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional investment opportunity presents a 24,950-square-foot flex/warehouse property located at 15555-15651 12 Mile Road, Roseville, MI 48066. The single-story building, constructed in 1978, sits on a 1.38-acre lot and boasts a 12' to 18' clear ceiling height, ideal for various industrial uses. Currently 100% occupied by two tenants, generating a net operating income (NOI) of $119,255, this property offers a compelling 4.90% cap rate at an asking price of $2,400,000 ($96.19/SF). The property features six overhead doors and ample parking with 60 spaces. Its prime location offers high visibility, adjacent to a McDonald's, and benefits from easy access to I-696 and Groesbeck Highway. Zoned for light industrial use, this owner-user opportunity presents significant upside potential. The property is a single-ownership building with multi-tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Roseville
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9629
    Latitude
    42.5092

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      89,883 SF

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    • Value Estimation
      $3,585,000
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      15420 12th Mile Rd

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    • Value Estimation
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      54,580 SF

      15460 12th Mile Rd

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    • Value Estimation
      $3,915,000
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      29585 Calahan Rd

      DISTRIBUTION WAREHOUSE
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    • Value Estimation
      $3,175,000
      68,812 SF

      27733 Groesbeck Hwy

      DISTRIBUTION WAREHOUSE
      27733 Groesbeck Hwy, Roseville, MI 48066-2758
      View Details

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      129,021 SF

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    • $900,000
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      Warehouse with Drive-Thru and Roll-Ups

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      12,340 SF

      Gratiot Avenue Commercial Property

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      3,800 SF

      Renovated Auto Business Property

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      17,322 SF

      Industrial Building on Groesbeck Highway

      17,322 SF industrial building with warehouse and office space.
      30744 Groesbeck Hwy, Roseville, MI 48066
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    Similar Nearby for Lease

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      Versatile Flex Space Available

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      Showroom and Warehouse Space Available

      Window-lined showroom with warehouse component in high-traffic area.
      29710 Groesbeck Hwy, Roseville, MI 48066
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      Retail Front Industrial Building

      Retail front industrial building with one exterior overhead door.
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      25,900 SF

      Roseville Warehouse Space Available

      25,900 SF warehouse space for lease in Roseville.
      28300 Groesbeck Hwy, Roseville, MI 48066
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    • Contact for pricing
      5,346 SF

      Roseville Warehouse Space Available

      5,346 SF warehouse space for lease in Roseville, MI.
      28500 Hayes Rd, Roseville, MI 48066
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    15555 Mile Rd
    Roseville, MI 48066
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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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