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    31 Mile Main St & County Line Rd Richmond, MI 48062
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    31 Mile Main St & County Line Rd Richmond, MI 48062

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    • Retail properties & Spaces
    • 10,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 31 Mile Main St & County Line Rd

    Property size
    10,500 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Muttonville Crossing offers exceptional retail space for lease in the thriving Richmond, Michigan market. Located at the high-traffic intersection of Gratiot, 31 Mile, Main Street, and County Line Road, this property boasts excellent visibility and accessibility. The 10,500 square foot building features multiple available spaces, perfect for a variety of retail businesses. Currently, 6,510 square feet of space is vacant, offering flexibility for tenants seeking different sizes. Units range from a minimum of 1,270 square feet to a maximum contiguous space of 2,700 square feet, accommodating businesses of various scales. This prime location in Macomb County, with a 48062 zip code, provides easy access to a large customer base. The property's strategic placement ensures high foot traffic and significant exposure to potential customers. This is an unparalleled opportunity to establish or expand your retail presence in a vibrant and growing community. Interested parties are encouraged to inquire about lease terms and available space configurations. The property is ideal for businesses seeking a prominent location with strong visibility and ample space to accommodate their operations. Don't miss this chance to secure your place in this bustling retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Macomb
    State
    Michigan
    Longitude
    -82.7334
    Latitude
    42.7938

    Comparable in this City

    • Value Estimation
      $670,000
      6,008 SF

      68225 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,008 SF
      68225 Main St, Richmond, MI 48062-1383
      View Details
    • Value Estimation by Request
      8,000 SF

      69080 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      69080 Main St, Richmond, MI 48062-1112
      View Details
    • Value Estimation by Request
      4,800 SF

      67453 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,800 SF
      67453 Main St, Richmond, MI 48062-1923
      View Details
    • Value Estimation
      $680,000
      11,898 SF

      68286 Main St

      RETAIL STORES (PERSONAL SERVICES) • 11,898 SF
      68286 Main St, Richmond, MI 48062-1336
      View Details
    • Value Estimation by Request
      7,326 SF

      68955 Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,326 SF
      68955 Main St, Richmond, MI 48062-1527
      View Details
    • Value Estimation
      $1,170,000
      8,580 SF

      36452 Division Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,580 SF
      36452 Division Rd, Richmond, MI 48062-1285
      View Details

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    Similar Nearby for Lease

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      81,000 SF

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      Downtown Richmond Commercial Corner Retail

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      Retail Space For Lease

      Retail space available for lease in Richmond, Michigan.
      69055 N Main St, Richmond, MI 48062
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    • $5,400 /Mo

      Retail Space in High-Traffic Area

      Retail space available in a high-traffic downtown location.
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      Retail Space For Lease

      Retail space available for lease in Richmond, Michigan.
      31 Mile Main St & County Line Rd, Richmond, MI 48062
      View Details
    • Contact for pricing

      Retail Space on Gratiot Avenue

      Turn-key retail space with high traffic exposure for lease.
      66759 Gratiot Ave, Richmond, MI 48062
      View Details
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    Richmond, MI 48062
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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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    31 Mile Main St & County Line Rd, Richmond, MI, 48062
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