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    20521 15th Mile Rd Clinton Township, MI 48035-3422
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    Property profile & analytics

    20521 15th Mile Rd, Clinton Township, MI 48035-3422

    View on Map
    • Retail space
    • 2,400 SF
    • 0.60 lot acres
    Off-Market
    Last Sale Mar 30, 2021
    $100,000
    Property ID
    US43-1143817
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 20521 15th Mile Rd

    Year built
    1968
    Lot size
    0.60 lot acres
    Property size
    2,400 SF
    Zone code
    B-2
    Property type
    Retail space
    APN
    16-11-28-480-028
    APU
    161128480028

    Description

    Park Plaza, a recently renovated retail strip center in Clinton Township, Michigan, offers three available commercial spaces totaling 4,200 square feet. Located at 20521 15 Mile Road, between Groesbeck Highway and Gratiot Avenue, this B2-zoned property boasts ample parking and multiple curb cuts for convenient access. Each suite is divisible, with a minimum of 900 square feet and a maximum contiguous space of 2,400 square feet. The property benefits from prominent pylon signage, enhancing visibility for tenants. Its strategic location is surrounded by a high-density residential area and is just one block from Clintondale High School, ensuring a consistent flow of potential customers. The entire 4,200 square foot building is currently vacant, presenting a unique opportunity for businesses seeking high-traffic retail space in a thriving community. The property is situated in Macomb County, Michigan, with a zip code of 48035. This prime location offers excellent visibility and accessibility, making it an ideal choice for a variety of retail businesses. The ample parking ensures convenient access for customers and employees alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9122
    Latitude
    42.555
    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
    $6,026
    $0.00
    $0.00
    $121,200
    -
    $0.00
    $0.00
    $242,400

    Comparable in this City

    • Value Estimation
      $1,050,000
      9,013 SF

      36640 Gratiot Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,013 SF
      36640 Gratiot Ave, Clinton Township, MI 48035-1721
      View Details
    • Value Estimation by Request
      1,964 SF

      36277 Gratiot Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,964 SF
      36277 Gratiot Ave, Clinton Township, MI 48035-1718
      View Details
    • Value Estimation
      $2,560,000
      83,725 SF

      34151 Gratiot Ave

      RETAIL STORES (PERSONAL SERVICES) • 83,725 SF
      34151 Gratiot Ave, Clinton Township, MI 48035-3537
      View Details
    • Value Estimation by Request
      1,140 SF

      34753 Gratiot Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,140 SF
      34753 Gratiot Ave, Clinton Township, MI 48035-6400
      View Details
    • Value Estimation
      $1,130,000
      12,088 SF

      34001 Groesbeck Hwy

      RETAIL STORES (PERSONAL SERVICES) • 12,088 SF
      34001 Groesbeck Hwy, Clinton Township, MI 48035-3388
      View Details
    • Value Estimation by Request
      3,600 SF

      36743 Groesbeck Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      36743 Groesbeck Hwy, Clinton Township, MI 48035-1552
      View Details

    Similar Nearby for Sale

    • $375,000
      2,430 SF

      Clinton Township Office/Retail Building

      Freestanding building with signage and recent HVAC upgrades for sale.
      36366 Groesbeck Ct, Clinton Township, MI 48035
      View Details
    • $379,000

      Fully Occupied Retail Investment Opportunity

      Free-standing retail building with 100% occupancy in Clinton Township.
      21340 15 Mile Rd, Clinton Township, MI 48035
      View Details
    • Contact for pricing
      12,000 SF

      Operating Restaurant on Large Lot

      Operating restaurant for sale on a large 82,000+ sqft lot.
      36217 Southbound Gratiot Ave, Clinton Twp, MI 48035
      View Details
    • $255,000
      1,668 SF

      Retail/Office Building in Clinton Township

      High-visibility retail/office building on Gratiot & Kentucky in Clinton Township.
      21720 15 Mile Rd, Clinton Twp, MI 48035
      View Details
    • $1,400,000
      9,755 SF

      Commercial/Industrial Building in Clinton Township

      Multi-use commercial building with high traffic and ample parking.
      35850 Utica Rd, Clinton Township, MI 48035
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,200 SF

      Retail Space on Gratiot Avenue

      Retail space for lease with high traffic volume.
      35270-35330 S Gratiot Ave, Clinton Township, MI 48035
      View Details
    • Contact for pricing
      1,500 SF

      Retail End Cap Unit Available

      1,500 SF end cap unit in Clinton Township, MI.
      16601 Mile Rd, Clinton Township, MI 48035
      View Details
    • Contact for pricing

      Retail/Office Space in Clinton Twp

      1,352 SF retail/office space available for lease.
      33990 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • $1,750 /Mo
      2,000 SF

      Retail Space on Groesbeck Highway

      2,000 SF retail unit with frontage and signage.
      35512 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • Contact for pricing

      Retail/Office Space on Groesbeck Hwy

      1,150 SF retail/office space for lease on Groesbeck Hwy.
      34010 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • Contact for pricing
      3,512 SF

      Retail Space Available For Rent

      Retail space available for rent in Clinton Twp, Michigan.
      35125 Utica Rd, Clinton Twp, MI 48035
      View Details
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    Clinton Township, MI 48035-3422
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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.

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