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    16117 10 Mile Rd Eastpointe, MI 48021
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    16117 10 Mile Rd, Eastpointe, MI 48021

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    Cap Rate Potential
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    Current Use by Public Records

    • Mo Thugs Records / Recording Studio

    Property Details for 16117 10 Mile Rd

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 1,300 square foot retail unit is available for lease in a thriving Eastpointe, Michigan strip center. Boasting high visibility on East 10 Mile Road, the property offers 121 feet of frontage with a curb cut, plus an additional 243 feet of frontage on Buick Road with another curb cut, ensuring excellent accessibility and exposure. Monument and facade signage opportunities are available to maximize your brand presence. Ample parking is provided for up to 60 vehicles, ensuring convenience for your customers. The property benefits from the presence of long-term tenants (9+ years), indicating a stable and desirable location. This vibrant commercial corridor is home to a diverse mix of big-box retailers including Little Caesars, Big Lots, Dollar Tree, Walgreens, Olive Garden, and Dollar General, creating a high-traffic environment and strong customer base. The location offers easy access to nearby shopping centers like Eastgate Shopping Center and Kelly Plaza, further enhancing foot traffic and visibility. Whether you're seeking a retail, office, or service-oriented space, this property presents a compelling opportunity to establish a successful business in a bustling and convenient Eastpointe location. The property is situated in Macomb County, Michigan, with a zip code of 48021. This is a single-tenancy space within a strip center/stand-alone building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Eastpointe
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9587
    Latitude
    42.4799

    Comparable in this City

    • Value Estimation by Request
      23,050 SF

      16555 10 Mile Rd

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      16555 10 Mile Rd, Eastpointe, MI 48021
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      20,000 SF

      14953 9 Mile Rd

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      1,250 SF

      15026 9 Mile Rd

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      20,000 SF

      14943 9 Mile Rd

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      2,200 SF

      22701 9 Mile Rd

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      22701 9 Mile Rd, Eastpointe, MI 48021
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    • Value Estimation by Request
      10,674 SF

      16117 10 Mile Rd

      Retail properties & Spaces
      16117 10 Mile Rd, Eastpointe, MI 48021
      View Details

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    Similar Nearby for Lease

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      Eastpointe Multi-Use Commercial Space

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      Freestanding Restaurant and Office/Retail Space

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      Eastpointe Retail Space For Rent

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      Eastpointe Retail Space For Rent

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      Retail Space Available For Lease

      Prime retail space with excellent street visibility, 2,300 sq ft.
      22217 Kelly Rd, Eastpointe, MI 48021
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    Eastpointe, MI 48021
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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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