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    Property profile & analytics

    20689 15th Mile Rd Clinton Township, MI 48035-3424

    • Grocery and convenience stores
    • 3,480 SF
    • 0.52 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2023
    $500,000
    Value Estimations
    $545,000
    Show details
    Cap Rate Potential
    5%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US43-1307154
    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

    • Grocery and convenience stores

    Property Details for 20689 15th Mile Rd

    Year built
    1960
    Lot size
    0.52 lot acres
    Property size
    3,480 SF
    Zone code
    B-3
    Property type
    Grocery and convenience stores
    APN
    16-11-28-480-019
    APU
    161128480019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $520,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $430,000
      6.5%
      $395,000
      7%
      $365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $684,000
      Market price range: $159k - $688k
      AI Estimate
      $684,000
      Market price range: $159k - $688k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $420,000
      Current use
      MEDICAL BUILDING
      $425,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9108
    Latitude
    42.5548
    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
    $9,848
    $0.00
    $0.00
    $206,700
    -
    $0.00
    $0.00
    $413,400

    Comparable in this City

    • Value Estimation
      $925,000
      4,691 SF

      36638 Groesbeck Hwy

      GROCERY, SUPERMARKET • 4,691 SF
      36638 Groesbeck Hwy, Clinton Township, MI 48035-1555
      View Details
    • Value Estimation
      $630,000
      3,180 SF

      36900 Harper Ave

      GROCERY, SUPERMARKET • 3,180 SF
      36900 Harper Ave, Clinton Township, MI 48035-2015
      View Details
    • Value Estimation by Request
      1,588 SF

      36511 Garfield Rd

      GROCERY, SUPERMARKET • 1,588 SF
      36511 Garfield Rd, Clinton Township, MI 48035-1166
      View Details
    • Value Estimation
      $2,945,000
      18,392 SF

      33650 Gratiot Ave

      GROCERY, SUPERMARKET • 18,392 SF
      33650 Gratiot Ave, Clinton Township, MI 48035-6119
      View Details
    • Value Estimation by Request
      1,530 SF

      35130 Harper Ave

      GROCERY, SUPERMARKET • 1,530 SF
      35130 Harper Ave, Clinton Township, MI 48035-3204
      View Details
    • Value Estimation by Request
      11,092 SF

      35250 Southbound Gratiot Ave

      Individual retail properties • 11,092 SF
      35250 Southbound Gratiot Ave, Clinton Township, MI 48035
      View Details

    Similar Nearby for Sale

    • $2,200,000
      11,092 SF

      Former Rite Aid: Prime Retail Space

      11,092 SF building, high traffic location, excellent visibility.
      35250 Southbound Gratiot Ave, Clinton Township, MI 48035
      View Details
    • $59,900

      Established Smoke Shop Business Opportunity

      Profitable smoke shop business for sale with growth potential.
      16865 Penrod Dr, Clinton Township, MI 48035
      View Details
    • $389,000
      2,430 SF

      Groesbeck Hwy Storefront - Clinton Twp

      Prime Retail/Office Opportunity. High Visibility Location.
      36366 Groesbeck Hwy, Clinton Township, 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
    • New
      $319,000
      3,024 SF

      Restaurant and Retail Space Available

      Former market and restaurant space available October 1st, 2025.
      33717 S Gratiot Ave, Clinton Township, MI 48035
      View Details
    • $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

    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Holiday Shopping Center: Prime Retail Space

      Clinton Twp, MI: Retail spaces available now
      36570-36830 Garfield Rd, Clinton Township, MI 48035
      View Details
    • Contact for pricing
      19,995 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
      115,000 SF

      Prime Clinton Twp Retail Space

      115,000 SF Retail Outparcel - Available
      34800 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • Contact for pricing
      3,512 SF

      Retail Space Available For Lease

      Retail property available for lease, offering 3512 square feet.
      35125 Utica Rd, Clinton Twp, MI 48035
      View Details
    • Contact for pricing
      19,995 SF

      Retail Space on Gratiot Avenue

      Retail building with up to 2,300 SF available for lease.
      35270 Gratiot Ave, Clinton Township, MI 48035
      View Details
    • $15 SF/Yr
      135,450 SF

      Clinton Pointe Shopping Center

      High-traffic retail space available
      33802 Gratiot Ave, Clinton Township, MI 48035
      View Details

    Property Visit Statistics

    • Visits by month
      17.1k
    • Visitors by month
      7.5k
    • Avg Time on site
      9 min
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    20689 15th Mile Rd
    Clinton Township, MI 48035-3424
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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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