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    Property profile & analytics

    15255 17 Mile Rd Clinton Township, MI 48038

    • Drug stores
    • 12,996 SF
    • 1.39 lot acres
    For Sale
    View listing
    $2,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3328754
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Drug stores

    Property Details for 15255 17 Mile Rd

    Year built
    2004
    Lot size
    1.39 lot acres
    Property size
    12,996 SF
    Zone code
    B-3
    Property type
    Drug stores
    APN
    16-11-18-358-008
    APU
    161118358008

    Description

    This exceptional 12,996-square-foot office building, located at 15255 17 Mile Road in Clinton Township, Michigan, presents a unique opportunity for a single tenant. Built in 2004, the property sits on a generous 1.39-acre lot and is ideally suited for executive or medical office uses. The entire building is currently vacant, offering immediate occupancy for a discerning business. The property's address is 15255 17 Mile Rd, Clinton Township, MI 48038, within the Clinton Township submarket of Macomb County. Its convenient location offers easy access to major transportation routes, ensuring seamless commutes for employees and clients. The building's modern design and ample square footage provide flexibility for various office configurations, catering to diverse business needs. With its single-tenant occupancy, this property offers a rare opportunity to establish a prominent presence in a thriving business community. The property's APN is 16-11-18-358-008. This is a for-lease opportunity. The property is categorized as an office building with executive and medical office subtypes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,924,000
      Market price range: $744k - $2.18M
      AI Estimate
      $1,924,000
      Market price range: $744k - $2.18M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,355,000
      Current use
      RESTAURANT
      $1,840,000
      Change: +36% Conversion: Easy
      MEDICAL BUILDING
      $1,595,000
      Change: +18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,335,000
      Change: -1% Conversion: Easy
      OFFICE BUILDING
      $1,230,000
      Change: -9% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9709
    Latitude
    42.5834
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $43,752
    $0.00
    $0.00
    $675,800
    -
    $0.00
    $0.00
    $1,351,600

    Comparable in this City

    • Value Estimation
      $2,370,000
      15,177 SF

      16741 Canal Rd

      DRUG STORE, PHARMACY • 15,177 SF
      16741 Canal Rd, Clinton Township, MI 48038-1614
      View Details
    • Value Estimation
      $2,240,000
      14,497 SF

      39040 Garfield Rd

      DRUG STORE, PHARMACY • 14,497 SF
      39040 Garfield Rd, Clinton Township, MI 48038-2790
      View Details
    • Value Estimation
      $2,000,000
      11,143 SF

      40925 Garfield Rd

      DRUG STORE, PHARMACY • 11,143 SF
      40925 Garfield Rd, Clinton Township, MI 48038-2537
      View Details
    • Value Estimation by Request
      2,423 SF

      42490 Garfield Rd

      Individual retail properties • 2,423 SF
      42490 Garfield Rd, Clinton Township, MI 48038
      View Details
    • Value Estimation by Request
      1,280 SF

      42730 Hayes Rd

      GROCERY, SUPERMARKET • 1,280 SF
      42730 Hayes Rd, Clinton Township, MI 48038-1660
      View Details
    • Value Estimation
      $820,000
      7,350 SF

      41730 Garfield Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,350 SF
      41730 Garfield Rd, Clinton Township, MI 48038-1963
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Retail Space in Kroger Center

      2,000 SF retail space in Clinton Township.
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      24,000 SF

      Hall Road Commercial Build-to-Suit

      Up to 24,000 SF retail, medical, or office space.
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      Hall Road Business Opportunity

      Business for sale in high-traffic Hall Road location.
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      1.50 Acres

      Clinton Twp Retail Development Opportunity

      New Storefronts & Drive-Thru Spaces Available
      19 Mile & Garfield, Clinton Township, MI 48038
      View Details

    Similar Nearby for Lease

    • $5,200 /Mo

      Retail Space in Well-Maintained Plaza

      Professionally managed retail space available for lease.
      41660 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $12 SF/Yr
      15,384 SF

      Pinewood Plaza Retail Space Available

      15,384 SF Retail Plaza, 5,400 SF Vacant
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      View Details
    • $12 SF/Yr
      1,250 SF

      Retail Space Near Lakeside Mall

      Retail space with great visibility and ample parking available for lease.
      40000 Hayes Rd, Clinton Township, MI 48038
      View Details
    • $2,500 /Mo

      Retail Space For Rent

      Retail space available for lease in Clinton Charter Township.
      39079 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $12 SF/Yr
      27,852 SF

      Cambridge Park Retail Space

      Clinton Twp retail space, high visibility
      15311 17 Mile Rd, Clinton Township, MI 48038
      View Details
    • Contact for pricing

      Clinton Township Commercial Property

      Commercial property available for rent in Clinton Township, Michigan.
      43211 Dalcoma Dr, Clinton Township, MI 48038
      View Details
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    Clinton Township, MI 48038
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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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