Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3775 15 Mile Rd Sterling Heights, MI 48310
    Back to Search
    Property profile & analytics

    3775 15 Mile Rd, Sterling Heights, MI 48310

    View on Map
    • Retail properties & Spaces
    • 950 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3775 15 Mile Rd

    Year built
    1978
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 950-square-foot storefront, located at 3775 15 Mile Rd in Sterling Heights, Michigan (zip code 48310), presents a lucrative investment opportunity. Currently operating at 100% occupancy under a net lease with five years remaining, this property boasts a strong 7.00% cap rate and a price per square foot of $157.89. The asking price is $150,000. Built in 1978, the building is zoned for commercial use and features attractive ceramic tile floors and custom-designed interiors. Situated in a high-traffic area at a busy intersection, this single-tenancy retail space benefits from ample parking, making it highly accessible to customers. All systems are in place for immediate business operation, offering a turnkey solution for a discerning buyer. The property's location within Macomb County, Michigan, provides excellent visibility and access to a thriving consumer base. This is a rare opportunity to acquire a well-established, profitable retail space in a desirable location. The property is ready for immediate occupancy and offers a seamless transition for a new business owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sterling Heights
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0699
    Latitude
    42.5509

    Comparable in this City

    • Value Estimation by Request
      1,260 SF

      40250 Mound Rd

      RETAIL STORES (PERSONAL SERVICES)
      40250 Mound Rd, Sterling Heights, MI 48310-2238
      View Details
    • Value Estimation
      $785,000
      4,675 SF

      2169 Metropolitan Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      2169 Metropolitan Pkwy, Sterling Heights, MI 48310-4206
      View Details
    • Value Estimation by Request
      1,120 SF

      35066 Mound Rd

      RETAIL STORES (PERSONAL SERVICES)
      35066 Mound Rd, Sterling Heights, MI 48310-4713
      View Details
    • Value Estimation by Request
      1,480 SF

      34838 Dequindre Rd

      RETAIL STORES (PERSONAL SERVICES)
      34838 Dequindre Rd, Sterling Heights, MI 48310-5280
      View Details
    • Value Estimation by Request
      4,200 SF

      33131 Mound Rd

      RETAIL STORES (PERSONAL SERVICES)
      33131 Mound Rd, Sterling Heights, MI 48310-6517
      View Details
    • Value Estimation
      $615,000
      5,520 SF

      35950 Dequindre Rd

      RETAIL STORES (PERSONAL SERVICES)
      35950 Dequindre Rd, Sterling Heights, MI 48310-4252
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Bakery Business Opportunity

      Thriving bakery in Sterling Heights ready for new owner.
      33122 Dequindre Rd, Sterling Heights, MI 48310
      View Details
    • $120,000
      2,700 SF

      Operating Hair Salon for Sale

      Fully operational women’s hair salon in Sterling Heights, Michigan.
      777 Macomb, Sterling Heights, MI 48310
      View Details
    • $119,900
      2,300 SF

      Restaurant Business Opportunity For Sale

      Restaurant business with equipment in busy Sterling Heights shopping plaza.
      3665 15 Mile Rd, Sterling Heights, MI 48310
      View Details
    • Contact for pricing
      5,145 SF

      Sterling Heights Adaptable Commercial Building

      Vacant 5,145 SF building on 1.90 AC in Sterling Heights.
      33250 Ryan Rd, Sterling Heights, MI 48310
      View Details
    • $319,998
      1,608 SF

      Sterling Heights Multi-Use Property

      Rehabbed Sterling Heights property with high traffic visibility.
      34641 Mound Rd, Sterling Heights, MI 48310
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Sterling Heights Retail/Office Units

      Three units available for lease in Sterling Heights, Michigan.
      34714-34730 Dequindre Rd, Sterling Heights, MI 48310
      View Details
    • Contact for pricing
      1,500 SF

      New Construction Retail/Office Space

      New construction retail/office space in Sterling Heights, flexible layout.
      B-13200 15 Mile Rd, Sterling Heights, MI 48310
      View Details
    • Contact for pricing

      High-Traffic Retail Space Available

      Retail space for lease in high-traffic Sterling Heights location.
      33233 Mound Rd, Sterling Heights, MI 48310
      View Details
    • Contact for pricing

      High-Visibility Retail Plaza for Lease

      Dominant corner location with high foot traffic and ample parking.
      1999 15 Mile Rd, Sterling Heights, MI 48310
      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.
    3775 15 Mile Rd
    Sterling Heights, MI 48310
    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

    Thank You for Inquiry
    3775 15 Mile Rd, Sterling Heights, MI, 48310
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!