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    65800 Van Dyke Ave Washington, MI 48095
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    65800 Van Dyke Ave Washington, MI 48095

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    • Retail properties & Spaces
    • 20,989 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 65800 Van Dyke Ave

    Property size
    20,989 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Vanessa Center, located at 65800 Van Dyke Ave, Washington, MI 48095, presents a remarkable leasing opportunity. This 20,989 square foot multi-tenant retail property offers flexible spaces ranging from 1,612 square feet to a maximum of 6,430 square feet, with two spaces currently available. The building enjoys a highly visible location on the east side of Van Dyke Avenue, north of 30 Mile Road, and directly across from established businesses including Art & Jakes, Taco Bell, and the Romeo Public Library. This strategic position within a thriving commercial area benefits from significant foot traffic generated by nearby shopping centers like Washington Park Plaza and Washington Town Center, as well as a diverse range of dining establishments. The property features ample parking and modern amenities, creating an ideal environment for a variety of commercial uses. Its convenient access to major thoroughfares ensures easy accessibility for customers and employees. The surrounding area boasts a vibrant atmosphere, attracting a consistent flow of both local residents and visitors, making Vanessa Center an exceptional choice for businesses seeking a dynamic and successful location. The minimum leasable space is 1,612 square feet. This property offers a unique chance to establish or expand your business in a bustling and well-connected community.

    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
    -83.013
    Latitude
    42.7783

    Comparable in this City

    • Value Estimation by Request
      14,639 SF

      63033 Van Dyke Ave

      Restaurants • 14,639 SF
      63033 Van Dyke Ave, Washington, MI 48095
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    • Value Estimation by Request
      840 SF

      67100 Van Dyke Rd

      RETAIL STORES (PERSONAL SERVICES) • 840 SF
      67100 Van Dyke Rd, Washington, MI 48095-1440
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    • Value Estimation
      $525,000
      3,900 SF

      67111 Van Dyke Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,900 SF
      67111 Van Dyke Rd, Washington, MI 48095-1443
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    • Value Estimation
      $860,000
      6,308 SF

      67520 Van Dyke Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,308 SF
      67520 Van Dyke Rd, Washington, MI 48095-1449
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    • Value Estimation
      $1,445,000
      11,170 SF

      66998 Van Dyke Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,170 SF
      66998 Van Dyke Rd, Washington, MI 48095-2001
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    • Value Estimation
      $1,110,000
      9,240 SF

      65900 Van Dyke Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,240 SF
      65900 Van Dyke Rd, Washington, MI 48095-2033
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      71,309 SF

      Romeo Village Shopping Center

      Fully occupied shopping center with strong tenant performance in Washington.
      66030-66152 Van Dyke Rd, Washington, MI 48095
      View Details
    • $699,000
      13.00 Acres

      13 Acres Vacant Land

      13 acres of vacant land with utilities available.
      31 31 Mile Rd, Washington Twp, MI 48095
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    • $1,499,000
      4 SF

      Development Ready Land Parcel

      4.35 acre site prepped for development with city water.
      12000 30 Mile Rd, Washington Township, MI 48095
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    • $134,900
      1.90 Acres

      Waterfront Land in Washington Twp

      Almost 2-acre waterfront lot near Stony Creek and Rochester.
      63888 Dequindre Rd, Washington Twp, MI 48095
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    • $1,122,500

      Land Available on Powell Road

      Land for sale on Powell Road in Washington, MI.
      67800-67990 Powell Rd, Washington, MI 48095
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space For Lease

      Commercial property available for lease in Washington, Michigan.
      12150 30 Mile Rd, Washington, MI 48095
      View Details
    • $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
      View Details
    • $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
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    • Contact for pricing
      1,320 SF

      Retail Space in Growing Corridor

      Retail space available in rapidly growing Van Dyke corridor.
      11880 Vis Spg Blvd, Bloomfield Hills, MI 48095
      View Details
    • $40 SF/Yr

      Land and Retail Space Available

      Land and retail space for lease in Washington, Michigan.
      65575 Van Dyke Ave, Washington, MI 48095
      View Details
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    65800 Van Dyke Ave
    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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