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    Property profile & analytics

    39880-40000 Garfield Rd Clinton Township, MI 48038

    • Neighborhood centers
    • 24,800 SF
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 39880-40000 Garfield Rd

    Property size
    24,800 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Garfield Plaza, located at 39880-40000 Garfield Rd in Clinton Township, Michigan, presents a compelling investment opportunity. This single-story, 24,800 square foot retail strip center sits on a 2-acre lot and features ten suites, offering flexible space options ranging from 800 to 4,125 square feet. Currently, 4,925 square feet of retail space is available for lease. The property boasts a highly visible location on Garfield Road, ensuring excellent exposure to a high volume of traffic. Ample parking is provided for customer convenience. The building underwent renovations in 2018, maintaining a well-maintained and professional appearance. The B2 zoning allows for a variety of commercial uses. The property's address is 39880-40000 Garfield Rd, Clinton Township, MI 48038, and its parcel number is 16-11-17-301-002 in Macomb County. This location offers significant potential for businesses seeking a thriving commercial environment with strong visibility and ample space for signage and branding. The property's prime location and versatile floor plans make it an ideal choice for a range of businesses seeking to establish or expand their presence in a high-traffic area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9518
    Latitude
    42.5904

    Comparable in this City

    • Value Estimation by Request
      14,449 SF

      41560-41660 Garfield Rd

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    • Value Estimation by Request
      15,384 SF

      40700-40820 Garfield Rd

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      40700-40820 Garfield Rd, Clinton Township, MI 48038
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      2,423 SF

      42490 Garfield Rd

      Office space • 2,423 SF
      42490 Garfield Rd, Clinton Township, MI 48038
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    • Value Estimation by Request
      23,180 SF

      40280-40522 Hayes Rd

      Office space • 23,180 SF
      40280-40522 Hayes Rd, Clinton Township, MI 48038
      View Details
    • Value Estimation
      $7,730,000
      120,422 SF

      17480 Hall Rd

      DEPARTMENT STORE • 120,422 SF
      17480 Hall Rd, Clinton Township, MI 48038-6922
      View Details
    • Value Estimation by Request
      5,637 SF

      16921 Clinton Riv Rd

      NURSERY, GREENHOUSE, FLORIST • 5,637 SF
      16921 Clinton Riv Rd, Clinton Township, MI 48038-3410
      View Details

    Similar Nearby for Sale

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      Turnkey Corned Beef Restaurant

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      Prime 2,000 SF space in a Kroger-anchored shopping center.
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      24,000 SF

      Hall Road Commercial Build-to-Suit

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    Similar Nearby for Lease

    • $12 SF/Yr
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      Garfield Road Retail Center

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    • $14 SF/Yr
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      Garfield Plaza Retail Center

      Clinton Township, MI: Prime Retail Space Available
      39880-40000 Garfield Rd, Clinton Township, MI 48038
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      Amore Plaza: Clinton Twp Office Space

      Hayes Road Offices, 1200-3600 SF Available
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      Crystal Commons Retail Space

      Clinton Twp, MI Retail Opportunity
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    Clinton Township, MI 48038
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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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