Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    40700-40820 Garfield Rd Clinton Township, MI 48038

    • Shopping centers
    • 15,384 SF
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shopping centers

    Property Details for 40700-40820 Garfield Rd

    Year built
    1988
    Property size
    15,384 SF
    Property type
    Shopping centers
    Property subtype
    Retail properties

    Description

    Pinewood Plaza offers a prime retail opportunity in Macomb County. This well-maintained, single-story Class B plaza totals 15,384 square feet, situated on a 1.8-acre lot. Currently, 5,400 square feet of retail space is available, divisible to a minimum of 1,200 square feet and with a maximum contiguous space of 2,400 square feet. Built in 1988, the property features 75 parking spaces and is conveniently located near the intersection of 18 Mile Road. The property is zoned B2, allowing for a variety of retail uses. The building is comprised of one building with no elevators. The property's APN is 11-17-100-025. The landlord is willing to provide a "white box" unit build-out for qualified tenants. This presents a fantastic opportunity for businesses seeking a move-in ready space in a thriving retail location. The property's excellent condition and convenient location make it an ideal investment for discerning businesses. Further details are available upon request.

    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
    -82.9524
    Latitude
    42.5965

    Comparable in this City

    • Value Estimation by Request
      1.50 Acres

      19 Mile & Garfield

      Individual retail properties • 1,610 SF
      19 Mile & Garfield, Clinton Township, MI 48038
      View Details
    • Value Estimation by Request
      24,800 SF

      39880-40000 Garfield Rd

      Neighborhood centers • 24,800 SF
      39880-40000 Garfield Rd, Clinton Township, MI 48038
      View Details
    • Value Estimation by Request
      14,449 SF

      41560-41660 Garfield Rd

      Neighborhood centers • 14,449 SF
      41560-41660 Garfield Rd, Clinton, MI 48038
      View Details
    • Value Estimation by Request
      2,423 SF

      42490 Garfield Rd

      Individual retail properties • 2,423 SF
      42490 Garfield Rd, Clinton Township, MI 48038
      View Details
    • Value Estimation
      $890,000
      4,500 SF

      22070 Hall Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      22070 Hall Rd, Clinton Township, MI 48038-1543
      View Details
    • Value Estimation
      $820,000
      7,350 SF

      41730 Garfield Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,350 SF
      41730 Garfield Rd, Clinton Township, MI 48038-1963
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Retail Space in Kroger Center

      2,000 SF retail space in Clinton Township.
      41601-41941 Garfield Rd, Clinton Township, MI 48038
      View Details
    • Contact for pricing
      1.50 Acres

      Clinton Twp Retail Development Opportunity

      New Storefronts & Drive-Thru Spaces Available
      19 Mile & Garfield, Clinton Township, MI 48038
      View Details
    • Contact for pricing
      24 SF

      New Shopping Center For Sale

      New shopping center with high visibility and traffic.
      16620-16660 19 Mile Rd, Clinton Township, MI 48038
      View Details
    • $30,000

      Hall Road Business Opportunity

      Business for sale in high-traffic Hall Road location.
      21312 Hall Rd, Clinton Township, MI 48038
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Kroger Center

      Prime 2,000 SF space in a Kroger-anchored shopping center.
      41831 Garfield Rd, Clinton Township, MI 48038
      View Details
    • Contact for pricing
      24,000 SF

      Hall Road Commercial Build-to-Suit

      Up to 24,000 SF retail, medical, or office space.
      1.839 Acres On Hall Rd, Clinton Township, MI 48038
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      15,384 SF

      Pinewood Plaza Retail Space Available

      15,384 SF Retail Plaza, 5,400 SF Vacant
      40700-40820 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $12 SF/Yr
      1,250 SF

      Retail Space Near Lakeside Mall

      Retail space with great visibility and ample parking available for lease.
      40000 Hayes Rd, Clinton Township, MI 48038
      View Details
    • $5,200 /Mo

      Retail Space in Well-Maintained Plaza

      Professionally managed retail space available for lease.
      41660 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $2,500 /Mo

      Retail Space For Rent

      Retail space available for lease in Clinton Charter Township.
      39079 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $12 SF/Yr
      23,180 SF

      Amore Plaza: Clinton Twp Office Space

      Hayes Road Offices, 1200-3600 SF Available
      40280-40522 Hayes Rd, Clinton Township, MI 48038
      View Details
    • $10 SF/Yr
      2,423 SF

      Prime Medical Office Space Available

      Versatile Office Suites near Henry Ford Hospital
      42490 Garfield Rd, Clinton Township, MI 48038
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    40700-40820 Garfield Rd
    Clinton Township, MI 48038
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.