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    Property profile & analytics

    57750 Van Dyke Ave Washington, MI 48094

    • Shopping centers
    • 11,300 SF
    • 2.00 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shopping centers

    Property Details for 57750 Van Dyke Ave

    Year built
    2024
    Lot size
    2.00 lot acres
    Property size
    11,300 SF
    Property type
    Shopping centers
    Property subtype
    Retail properties

    Description

    This exceptional Class A retail plaza, located at 57750 Van Dyke Avenue in Washington, Michigan, offers 11,300 square feet of versatile space, currently entirely vacant. Built in 2024, the single-story building sits on a 2-acre lot and features 80 parking spaces, ensuring ample customer convenience. The property boasts a highly desirable location with excellent Van Dyke Avenue frontage, providing easy access to the M53 expressway, maximizing visibility and accessibility. The zoning is commercial, allowing for a variety of uses. The plaza is designed to accommodate multiple tenants, with suites ranging from a minimum of 1,883 square feet to a maximum contiguous space of 11,300 square feet. Six individual suites are available, making it ideal for a variety of retail businesses, including a potential end-cap restaurant with outdoor seating. The property's address is 57750 Van Dyke Ave, Washington, MI 48094, and its parcel number is 04-34-301-029 in Macomb County. This is a unique opportunity to establish a presence in a thriving commercial area. The property's design and location make it an attractive option for businesses seeking high visibility and convenient access for their customers. The ample parking and flexible suite sizes cater to a wide range of business needs.

    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
    -83.0356
    Latitude
    42.7188

    Comparable in this City

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      6,200 SF

      58540 Van Dyke Ave

      Medical offices • 6,200 SF
      58540 Van Dyke Ave, Washington, MI 48094
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    • Value Estimation by Request
      6,200 SF

      58540 Van Dyke Ave

      Medical offices • 6,200 SF
      58540 Van Dyke Ave, Washington, MI 48094
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    • Value Estimation by Request
      23,000 SF

      5987 26 Mile Rd

      Retail properties • 23,000 SF
      5987 26 Mile Rd, Washington, MI 48094
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      6,200 SF

      58540 Van Dyke Ave

      Individual retail properties • 6,200 SF
      58540 Van Dyke Ave, Washington, MI 48094
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    • Value Estimation by Request
      2,100 SF

      57889 Van Dyke Rd

      RESTAURANT • 2,100 SF
      57889 Van Dyke Rd, Washington, MI 48094-3802
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    • Value Estimation by Request
      3,072 SF

      7704 Ww Rd

      RESTAURANT • 3,072 SF
      7704 Ww Rd, Washington, MI 48094-3544
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    Similar Nearby for Lease

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      Van Dyke Ave Retail Plaza - Washington, MI

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    Washington, MI 48094
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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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