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    63033 Van Dyke Ave Washington, MI 48095
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    63033 Van Dyke Ave Washington, MI 48095

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    • Retail properties & Spaces
    • 14,639 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 63033 Van Dyke Ave

    Year built
    2008
    Property size
    14,639 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional single-tenant commercial property, located at 63033 Van Dyke Ave in Washington, Michigan, 48095, presents a unique investment opportunity. The 14,639 square foot building, constructed in 2008, sits on a prominent corner lot at the intersection of Van Dyke Avenue and 29 Mile Road in Washington Township, Macomb County. Its versatile design caters to a variety of uses, including creative office, medical office, and executive office spaces, as well as retail and restaurant possibilities. The building features a single story with no elevators. The property is zoned commercial (APN: 0415476020) and offers convenient access to the Macomb Orchard Trail. A significant advantage is the inclusion of a 686 square foot mezzanine, ideal for storage. Ample parking is available, and a drive-through window adds further functionality. This free-standing building represents a rare opportunity to acquire a well-maintained, strategically located commercial property in a thriving area. The property's size, location, and versatile design make it an attractive option for a wide range of businesses. The building's single-tenant occupancy simplifies management and provides a stable income stream. This property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0189
    Latitude
    42.7582

    Comparable in this City

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      20,989 SF

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      4,946 SF

      64341 Van Dyke Rd

      MEDICAL BUILDING • 4,946 SF
      64341 Van Dyke Rd, Washington, MI 48095-2578
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    • Value Estimation
      $1,630,000
      8,870 SF

      64582 Van Dyke Rd

      MEDICAL BUILDING • 8,870 SF
      64582 Van Dyke Rd, Washington, MI 48095-2583
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    • Value Estimation by Request
      1,600 SF

      64177 Van Dyke Rd

      MEDICAL BUILDING • 1,600 SF
      64177 Van Dyke Rd, Washington, MI 48095-2580
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    • Value Estimation
      $5,800,000
      35,935 SF

      12150 30th Mile Rd

      MEDICAL BUILDING • 35,935 SF
      12150 30th Mile Rd, Washington, MI 48095-2035
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    • Value Estimation by Request
      3,403 SF

      66841 Van Dyke Rd

      MEDICAL BUILDING • 3,403 SF
      66841 Van Dyke Rd, Washington, MI 48095-2019
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    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $13 SF/Yr

      Van Dyke Retail/Office Opportunity

      Free-standing building in Washington Twp with drive-through and parking.
      63033 Van Dyke Ave, Washington, MI 48095
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      Commercial Space For Lease

      Commercial property available for lease in Washington, Michigan.
      12150 30 Mile Rd, Washington, MI 48095
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      Renovated Industrial-Flex Building on 31 Mile

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      12417 31 Mile Rd, Washington, MI 48095
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      Washington Office Space For Rent

      Office space available for lease in Washington, Michigan.
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    • $40 SF/Yr

      Land and Retail Space Available

      Land and retail space for lease in Washington, Michigan.
      65575 Van Dyke Ave, Washington, MI 48095
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    • $15,917 /Mo
      14,693 SF

      Washington, MI Retail Opportunity

      Free-standing building with drive-through in Washington Township.
      63033 Van Dyke Rd, Washington, MI 48095
      View Details
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    Washington, MI 48095
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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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