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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22955 21st Mile Rd Macomb, MI 48042-4920

    • Office buildings
    • 10,584 SF
    • 1.56 lot acres
    OFF-MARKET
    Value Estimations
    $1,130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1512052
    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

    • Gompers, Cornish & Barr / Insurance Agency
    • Barr Jim / Insurance Agency
    • HEIRITAGE Law, PLLC Estate Planning and Probate Lawyers / Law Firm
    • HEIRITAGE Law, PLLC Estate Planning and Probate Attorneys / Law Firm
    • Gompers Goulliard & Wolfe Inc / Insurance Agency

    Property Details for 22955 21st Mile Rd

    Year built
    1991
    Lot size
    1.56 lot acres
    Property size
    10,584 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    20-08-26-477-013
    APU
    200826477013

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,128,000
      Market price range: $659k - $1.41M
      AI Estimate
      $1,128,000
      Market price range: $659k - $1.41M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,005,000
      Current use
      RESTAURANT
      $1,500,000
      Change: +50% Conversion: Moderate
      MEDICAL BUILDING
      $1,300,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $1,105,000
      Change: +10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,090,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $910,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8773
    Latitude
    42.6447
    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
    $22,158
    $0.00
    $0.00
    $505,500
    -
    $0.00
    $0.00
    $1,011,000

    Comparable in this City

    • Value Estimation
      $10,595,000
      111,763 SF

      54111 Broughton Rd

      OFFICE BUILDING • 111,763 SF
      54111 Broughton Rd, Macomb, MI 48042-1831
      View Details
    • Value Estimation by Request
      2,538 SF

      45150 Nn Ave

      OFFICE BUILDING • 2,538 SF
      45150 Nn Ave, Macomb, MI 48042-5227
      View Details
    • Value Estimation
      $1,950,000
      21,287 SF

      16800 24th Mile Rd

      OFFICE BUILDING • 21,287 SF
      16800 24th Mile Rd, Macomb, MI 48042-2990
      View Details
    • Value Estimation
      $1,300,000
      13,712 SF

      19810 26th Mile Rd

      OFFICE BUILDING • 13,712 SF
      19810 26th Mile Rd, Macomb, MI 48042-1204
      View Details
    • Value Estimation
      $930,000
      6,988 SF

      22537 Hall Rd

      OFFICE BUILDING • 6,988 SF
      22537 Hall Rd, Macomb, MI 48042-5219
      View Details
    • Value Estimation by Request
      3,024 SF

      45777 Gratiot Ave

      OFFICE BUILDING • 3,024 SF
      45777 Gratiot Ave, Macomb, MI 48042-5448
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Hall Road Professional Office Building

      Professional office building with excellent Hall Road exposure and signage.
      22525 Hall Rd, Macomb, MI 48042
      View Details
    • Contact for pricing
      20,000 SF

      Macomb Warehouse/Manufacturing Opportunity

      20,000 SF building suitable for warehouse or manufacturing.
      46705 Erb Dr, Macomb, MI 48042
      View Details
    • Contact for pricing
      0.57 Acres

      Macomb County Commercial Land Opportunity

      Prime Hall Rd. development site, 0.57-4.93 acres.
      0 Hall Rd, Macomb, MI 48042
      View Details
    • $699,900
      8.63 Acres

      Shovel-Ready Townhome Development Opportunity

      25-unit townhome development opportunity in Macomb Township.
      25 Mile Rd, Macomb, MI 48042
      View Details
    • $350,000
      4.32 Acres

      Macomb Vacant Land Opportunity

      4.3-acre property with house and outbuilding in growing Macomb Township.
      50741 North Ave, Macomb, MI 48042
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Macomb Retail and Office Space

      Retail and office spaces available in busy Macomb plaza.
      22000 23 Mile Rd, Macomb, MI 48042
      View Details
    • Contact for pricing

      New Construction Retail/Office Space

      New construction retail or office space available for lease.
      16984 25 Mile Rd, Macomb, MI 48042
      View Details
    • Contact for pricing

      Refurbished Duplex Building For Lease

      Refurbished duplex building with office and shop areas available for lease.
      15695-15721 Leone Dr, Macomb, MI 48042
      View Details
    • Contact for pricing
      1,365 SF

      Remodeled Office Building on Hall

      Professional office building with excellent Hall Road exposure and access.
      22537 Hall Rd, Macomb, MI 48042
      View Details
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    22955 21st Mile Rd
    Macomb, MI 48042-4920
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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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