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    21512-21532 Harper Ave St. Clair Shores, MI 48080
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    21512-21532 Harper Ave St. Clair Shores, MI 48080

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    • Neighborhood centers
    • 12,740 SF
    • 0.90 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 21512-21532 Harper Ave

    Year built
    1987
    Lot size
    0.90 lot acres
    Property size
    12,740 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This 12,740 square foot single-story retail strip center is located at 21512-21532 Harper Ave in St. Clair Shores, Michigan, 48080. Situated on a 0.905-acre lot, the property boasts a prime location near Grosse Pointe communities and I-94, ensuring high traffic visibility. Built in 1987, the Class C building features 50 parking spaces and offers multiple tenancy options with a minimum divisible space of 1,200 square feet and a maximum contiguous space of 2,400 square feet. Currently, 2,400 square feet of retail space is available. The property benefits from monument and building signage, and is zoned B-1. Existing tenants include a bulk foods store, a nail salon, and a hair salon, creating a strong and established tenant mix. The property's address is conveniently located at the intersection of Harper Ave and Edmunton, just north of 8 Mile Road, in Macomb County (APN: 09-14-33-454-044). This presents a unique opportunity for businesses seeking high-traffic exposure in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    St. Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9129
    Latitude
    42.4544

    Comparable in this City

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      20,000 SF

      21801-21809 Harper Ave

      Lifestyle centers • 20,000 SF
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      11,100 SF

      24235-24311 Harper Ave

      Lifestyle centers • 11,100 SF
      24235-24311 Harper Ave, St. Clair Shores, MI 48080
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      6,216 SF

      22400-22410 Harper Ave

      Lifestyle centers • 6,216 SF
      22400-22410 Harper Ave, St. Clair Shores, MI 48080
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      6,375 SF

      21800 Greater Mack Ave

      Individual retail properties • 6,375 SF
      21800 Greater Mack Ave, St. Clair Shores, MI 48080
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      2,064 SF

      24840 Harper Ave

      Individual retail properties • 2,064 SF
      24840 Harper Ave, St. Clair Shores, MI 48080
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    • Value Estimation by Request
      6,661 SF

      21480 Greater Mack Ave

      NURSERY, GREENHOUSE, FLORIST • 6,661 SF
      21480 Greater Mack Ave, Saint Clair Shores, MI 48080-2353
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      St. Clair Shores Auto Shop

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      Saint Clair Shores Bank Building

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      Retail Space For Sale

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      23707-23709 Jefferson Ave, St Clair Shores, MI 48080
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      Saint Clair Shores Vacant Land

      Redevelopment opportunity on the Nautical Mile with high visibility.
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    Similar Nearby for Lease

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      2,200 SF

      Restaurant Space in High-Traffic Area

      Fully built-out bar and restaurant space for lease.
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      1,800 SF

      High Exposure Retail Location

      Retail spaces available near I-94 with excellent parking.
      20010 E 9 Mile Rd, Saint Clair Shores, MI 48080
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      Retail Space For Lease

      Retail space available for lease.
      20010 E 9 Mile Rd, St Clair Shores, MI 48080
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      Retail, Office, and Flex Property

      Versatile retail, office, and flex spaces available for rent.
      24000 Harper Ave, St Clair Shores, MI 48080
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      Retail Space Available For Rent

      Retail spaces available, ranging from 1,620 to 3,240 SqFt.
      22601 E 9 Mile Rd, St Clair Shores, MI 48080
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      2,532 SF

      Retail Development with Drive-Thru Potential

      New retail development with drive-thru opportunity in St Clair Shores.
      24300 Harper Ave, Saint Clair Shores, MI 48080
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    St. Clair Shores, MI 48080
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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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