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    4235 24Th Ave Fort Gratiot Township, MI 48059
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    4235 24Th Ave Fort Gratiot Township, MI 48059

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    • Retail properties & Spaces
    • 30,737 SF
    • 4.96 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 4235 24Th Ave

    Lot size
    4.96 lot acres
    Property size
    30,737 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional multi-tenant retail property, located at 4235 24th Ave in Fort Gratiot Township, Michigan, offers a substantial 30,737 square feet of space on a generous 4.96-acre lot. Strategically situated across from the Birchwood Mall, this property enjoys a high-traffic location within the thriving Port Huron retail market. The site benefits from a shadow anchor position adjacent to a Home Depot, ensuring significant consumer traffic and visibility. This presents an excellent opportunity for redevelopment or outlot development, catering to a variety of retail uses. The property's size and location make it ideal for investors seeking a strong return on investment in a well-established retail corridor. The address is 4235 24th Ave, North Lakeport, MI 48059, within St. Clair County. The property's substantial size and prime location offer significant potential for future growth and profitability. This is a rare opportunity to acquire a significant retail asset in a high-demand area. The existing structure provides a solid foundation for redevelopment, while the ample land allows for the creation of additional outlots, further enhancing the property's value and income potential. The proximity to the Birchwood Mall and the shadow-anchoring effect of the Home Depot create a synergistic retail environment, attracting a large and diverse customer base.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Gratiot Township
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.4969
    Latitude
    43.1029

    Comparable in this City

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      31,080 SF

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      37,115 SF

      4161-4167 24Th Ave

      Office Spaces • 37,115 SF
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      630,130 SF

      4350 24Th Ave

      Restaurants • 630,130 SF
      4350 24Th Ave, Fort Gratiot Township, MI 48059
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    • Value Estimation by Request
      1.35 Acres

      4750 24Th Ave

      Restaurants • 1.35 Acres
      4750 24Th Ave, Fort Gratiot Township, MI 48059
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    • Value Estimation by Request
      86,923 SF

      4025 24Th Ave

      Lifestyle centers • 86,923 SF
      4025 24Th Ave, Fort Gratiot Township, MI 48059
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    • Value Estimation by Request
      154,000 SF

      4025 24Th Ave

      Individual retail properties • 154,000 SF
      4025 24Th Ave, Fort Gratiot Township, MI 48059
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    Similar Nearby for Sale

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      5,803 SF

      Retail Space in Prime Location

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      4220 24Th Ave, Fort Gratiot Township, MI 48059
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    • $4,060,680

      Single Tenant Best Buy Building

      Retail building in Fort Gratiot, MI with repurposing opportunities.
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      86,923 SF

      Retail Space For Sale

      Retail space available with a new national tenant coming soon.
      4025 24Th Ave, Fort Gratiot Township, MI 48059
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    • $575,050
      21.00 Acres

      20+ Acres Development Opportunity

      Partially wooded 20+ acre land parcel near Lake Huron.
      00 Lakeshore Rd, Fort Gratiot, MI 48059
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    • $325,000
      3.60 Acres

      Commercial Land on Lakeshore Drive

      3.6 acres of commercial land with 250 feet frontage.
      5745 Lakeshore Dr, Fort Gratiot, MI 48059
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease in Fort Gratiot Township.
      4744 24Th Ave, Fort Gratiot Township, MI 48059
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    • $12 SF/Yr
      154,000 SF

      Fort Gratiot Plaza Retail Space

      High-visibility retail space, ample parking.
      4025 24Th Ave, Fort Gratiot Township, MI 48059
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    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces for lease in Fort Gratiot.
      4161-4167 24Th Ave, Fort Gratiot, MI 48059
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    • Contact for pricing

      Retail Space in Fort Gratiot

      Retail space available in a growing commercial corridor.
      4405 24Th Ave, Fort Gratiot, MI 48059
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      Premier Shopping Destination Near Detroit

      St. Clair County's premier shopping destination serving US and Canada.
      4350 24Th Ave, Fort Gratiot Township, MI 48059
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      Retail Space Inside Meijer Store

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      4775 24Th Ave, Fort Gratiot, MI 48059
      View Details
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    Fort Gratiot Township, MI 48059
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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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