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    67280 Van Dyke Ave Washington, MI 48095
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    67280 Van Dyke Ave Washington, MI 48095

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    • Retail properties & Spaces
    • 1,734 SF
    • 1.41 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 67280 Van Dyke Ave

    Year built
    1960
    Lot size
    1.41 lot acres
    Property size
    1,734 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 1,734-square-foot freestanding retail building presents a unique investment opportunity in the thriving community of Washington, Michigan. Situated on a spacious 1.418-acre lot at 67280 Van Dyke Ave, this single-story, Class C property boasts ample parking and high visibility from Van Dyke Avenue, a major thoroughfare. Built in 1960, the building is currently vacant, offering a blank canvas for a variety of retail uses. Its convenient location near the intersection of Van Dyke Avenue and 31 Mile Road places it within easy reach of local residents and tourists alike, particularly benefiting from the annual Romeo Peach Festival. The property's General Commercial zoning allows for flexibility in tenant selection. The building features no elevators, but ample parking is available. The property's parcel number is 24-04-02-376-003 in Macomb County. This is a rare opportunity to establish a business in a desirable location with significant foot traffic and visibility. The property's size and location make it ideal for a variety of retail concepts. The entire 1,734 square feet is available for immediate occupancy. This property offers a strong potential for return on investment due to its prime location and high visibility. Don't miss this chance to secure a prominent retail space in a growing 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
    -83.0132
    Latitude
    42.7886

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      66020 Van Dyke Ave

      Retail properties & Spaces • 5,000 SF
      66020 Van Dyke Ave, Washington, MI 48095
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    • 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
      20,989 SF

      65800 Van Dyke Ave

      Individual retail properties • 20,989 SF
      65800 Van Dyke Ave, Washington, MI 48095
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    • Value Estimation by Request
      11,180 SF

      66998 Van Dyke Ave

      Retail properties & Spaces • 11,180 SF
      66998 Van Dyke Ave, Washington, MI 48095
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    • Value Estimation by Request
      92,450 SF

      64660-64992 Van Dyke Rd

      Neighborhood centers • 92,450 SF
      64660-64992 Van Dyke Rd, Washington, MI 48095
      View Details
    • Value Estimation
      $535,000
      4,800 SF

      64269 Van Dyke Rd

      COMMERCIAL (GENERAL) • 4,800 SF
      64269 Van Dyke Rd, Washington, MI 48095-2579
      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
      View Details
    • $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
      View Details
    • $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
      View Details
    • $1,122,500

      Land Available on Powell Road

      Land for sale on Powell Road in Washington, MI.
      67800-67990 Powell Rd, Washington, MI 48095
      View Details

    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
    • $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
    • Contact for pricing

      Retail Space in Frontier Town

      Freestanding building in a high-visibility tourist area.
      67280 Van Dyke Ave, Washington, MI 48095
      View Details
    • Contact for pricing

      Retail Space Anchored by Kroger

      Retail space in Washington Township, anchored by Kroger.
      64660-64992 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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