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

    24055 Jefferson Ave Saint Clair Shores, MI 48080-1511

    • Office buildings
    • 20,112 SF
    • 1.33 lot acres
    OFF-MARKET
    Value Estimations
    $1,940,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3590539
    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

    • Stephani A. Mcisaac, LMSW / Mental Health Clinic / Social Worker
    • Patricia R. Van Devyver, LMSW / Social Worker / Psychologist
    • Nora T. Brandon, LMSW / Psychologist / Social Worker
    • Lesley R. Straith, LLP / Psychologist / Mental Health Clinic
    • Kathleen M. Mousseau, LPC / Psychologist / Counselor

    Property Details for 24055 Jefferson Ave

    Year built
    1978
    Lot size
    1.33 lot acres
    Property size
    20,112 SF
    Zone code
    CLD
    Property type
    Office buildings
    APN
    09-14-27-478-054
    APU
    91427478054

    Description

    This exceptional two-story, 20,800 square foot office building, situated on 1.32 acres on Jefferson Avenue in St. Clair Shores, Michigan, presents a compelling investment opportunity. Boasting a Class B rating and a desirable "Nautical Mile" location, this multi-tenant property offers 9,000 square feet of net rentable space with 90% occupancy. Built in 1978 and renovated in 2010, the building features high-end office finishes, updated common areas, and elevator access. The property includes 30 parking spaces and benefits from excellent monument and building signage opportunities. Suite sizes range from 500 to 7,000 square feet, catering to diverse business needs. Its strategic location provides convenient access to I-94 and I-696 expressways, as well as nearby amenities and services. The asking price is $2,500,000, translating to $120.19 per square foot. The property is zoned for commercial use and features a gross lease type. This is a core investment opportunity with significant potential for growth and return. The property's prime location and updated facilities make it an attractive option for both investors and tenants. The building's multi-tenant structure provides diversification and stability, making it a sound investment in the thriving St. Clair Shores market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,938,000
      Market price range: $1.28M - $2.17M
      AI Estimate
      $1,938,000
      Market price range: $1.28M - $2.17M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,695,000
      Current use
      RESTAURANT
      $2,850,000
      Change: +68% Conversion: Moderate
      MEDICAL BUILDING
      $2,470,000
      Change: +46% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,070,000
      Change: +22% Conversion: Easy
      RETAIL STORES
      $1,915,000
      Change: +13% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,730,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8876
    Latitude
    42.4679
    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
    2023
    $44,478
    $0.00
    $0.00
    $921,000
    -
    $0.00
    $0.00
    $1,842,000

    Comparable in this City

    • Value Estimation by Request
      1,025 SF

      22725 Greater Mack Ave, Unit 1

      OFFICE BUILDING • 1,025 SF
      22725 Greater Mack Ave, Saint Clair Shores, MI 48080-2023
      View Details
    • Value Estimation by Request
      1,025 SF

      22725 Greater Mack Ave, Unit 2

      OFFICE BUILDING • 1,025 SF
      22725 Greater Mack Ave, Saint Clair Shores, MI 48080-2023
      View Details
    • Value Estimation by Request
      5,355 SF

      21250 Harper Ave

      OFFICE BUILDING • 5,355 SF
      21250 Harper Ave, Saint Clair Shores, MI 48080-2221
      View Details
    • Value Estimation by Request
      1,784 SF

      22210 Harper Ave

      OFFICE BUILDING • 1,784 SF
      22210 Harper Ave, Saint Clair Shores, MI 48080-1816
      View Details
    • Value Estimation by Request
      1,910 SF

      24522 Harper Ave

      OFFICE BUILDING • 1,910 SF
      24522 Harper Ave, Saint Clair Shores, MI 48080-1238
      View Details
    • Value Estimation
      $965,000
      10,818 SF

      23409 Jefferson Ave

      OFFICE BUILDING • 10,818 SF
      23409 Jefferson Ave, Saint Clair Shores, MI 48080-3449
      View Details

    Similar Nearby for Sale

    • $1,695,000
      12,996 SF

      St. Clair Shores Office Building

      Multi-tenant office building in desirable St. Clair Shores/Grosse Pointe location.
      22100 Greater Mack Ave, Saint Clair Shores, MI 48080
      View Details
    • Contact for pricing
      6,810 SF

      St. Clair Shores Office Building

      Office building with available space for lease or sale.
      24001 Greater Mack Ave, Saint Clair Shores, MI 48080
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    • $795,000
      5,497 SF

      Saint Clair Shores Office Building

      Well-maintained office building in desirable St. Clair Shores location.
      23001 Greater Mack Ave, Saint Clair Shores, MI 48080
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    • Contact for pricing
      8,138 SF

      Freestanding Office Building on Harper

      Highly visible office building with ample parking and recent improvements.
      22708 Harper Ave, Saint Clair Shores, MI 48080
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    • $550,000
      6,810 SF

      St. Clair Shores Office Building

      6,810 SF Office, $550,000
      24001 Greater Mack Ave, St. Clair Shores, MI 48080
      View Details
    • $1,695,000
      12,996 SF

      Great Mack Ave Medical Office

      St. Clair Shores medical building, 12,996 SF
      22100 Greater Mack Ave, St. Clair Shores, MI 48080
      View Details

    Similar Nearby for Lease

    • $650 /Mo
      117 SF

      St Clair Shores Office Space

      Office/medical space for lease in a professionally managed building.
      22930 E 9 Mile Rd, Saint Clair Shores, MI 48080
      View Details
    • $9 SF/Yr
      31,111 SF

      Harper Ave Executive Suites

      St. Clair Shores Office & Retail Space
      24000 Harper Ave, St. Clair Shores, MI 48080
      View Details
    • $15 SF/Yr
      5,133 SF

      St. Clair Shores Medical Office Space

      2,700 SF Available, Prime Location
      22790 Harper Ave St, St. Clair Shores, MI 48080
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    • $15 SF/Yr
      2,064 SF

      St. Clair Shores Executive Office Space

      Prime Office, Ample Parking, 2064 SF
      24840 Harper Ave, St. Clair Shores, MI 48080
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    • $16 SF/Yr
      1,254 SF

      Saint Clair Shores Office Space

      Office space available for lease in Saint Clair Shores.
      23995 Greater Mack Ave, Saint Clair Shores, MI 48080
      View Details
    • $16 SF/Yr
      8,400 SF

      Medical Suite on Greater Mack

      2,333 SF medical suite with exam rooms and lab.
      St Clair Shores, MI 48080
      View Details
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    24055 Jefferson Ave
    Saint Clair Shores, MI 48080-1511
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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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