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    24276 Hall Rd Clinton Township, MI 48036-1214

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    24276 Hall Rd Clinton Township, MI 48036-1214

    View on Map
    • Government properties
    • 5,916 SF
    • 2.08 lot acres
    Off-Market
    Last Sale Mar 4, 2022
    $1,200,000
    Property ID
    US43-0226265
    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
    $1,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Government properties

    Property Details for 24276 Hall Rd

    Year built
    2002
    Lot size
    2.08 lot acres
    Property size
    5,916 SF
    Zone code
    B-3
    Property type
    Government properties
    APN
    16-11-01-201-023
    APU
    161101201023

    Description

    This exceptional retail property, located at 24276 Hall Road in Clinton Township, Michigan, 48036, presents a unique investment opportunity. The 5,991 square foot building sits on a generous 1.7-acre lot and is currently entirely vacant, offering significant potential for a single tenant or multiple occupants. The property is zoned for retail use and is ideally suited for a variety of businesses. Flexible space options are available, with a minimum divisible space of 2,363 square feet and a maximum contiguous space of 5,991 square feet, allowing for customization to meet specific business needs. The property's strategic location on Hall Road in Clinton Township provides excellent visibility and accessibility, ensuring high traffic volume and exposure to a large customer base. The site offers ample parking and is conveniently located near other established businesses, creating a synergistic environment for growth and success. This is an exceptional opportunity to establish a presence in a thriving retail corridor. The entire 5,991 square feet is available for lease, or the entire 1.7-acre lot is available for land lease. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,261,000
      Market price range: $587k - $1.26M
      AI Estimate
      $1,261,000
      Market price range: $587k - $1.26M

    • Alternative Use

      Use
      Estimation
      CENTRALLY ASSESSED
      $985,000
      Current use
      RESTAURANT
      $840,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8626
    Latitude
    42.6293
    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
    $34,526
    $0.00
    $0.00
    $913,600
    -
    $0.00
    $0.00
    $1,827,200

    Comparable in this City

    • Value Estimation
      $1,420,000
      10,315 SF

      37321 Garfield Rd

      CENTRALLY ASSESSED • 10,315 SF
      37321 Garfield Rd, Clinton Township, MI 48036-2052
      View Details
    • Value Estimation
      $1,285,000
      6,034 SF

      37370 Gratiot Ave

      CENTRALLY ASSESSED • 6,034 SF
      37370 Gratiot Ave, Clinton Township, MI 48036-2701
      View Details
    • Value Estimation
      $1,225,000
      7,173 SF

      20755 Nunneley Rd

      CENTRALLY ASSESSED • 7,173 SF
      20755 Nunneley Rd, Clinton Township, MI 48036-2593
      View Details
    • Value Estimation
      $1,335,000
      10,407 SF

      37570 Gratiot Ave

      CENTRALLY ASSESSED • 10,407 SF
      37570 Gratiot Ave, Clinton Township, MI 48036-2703
      View Details
    • Value Estimation
      $795,000
      4,149 SF

      39907 Groesbeck Hwy

      CENTRALLY ASSESSED • 4,149 SF
      39907 Groesbeck Hwy, Clinton Township, MI 48036-5007
      View Details
    • Value Estimation
      $740,000
      4,157 SF

      39010 Groesbeck Hwy

      CENTRALLY ASSESSED • 4,157 SF
      39010 Groesbeck Hwy, Clinton Township, MI 48036-1539
      View Details

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    Similar Nearby for Lease

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      Versatile Building with Flexible Zoning

      Adaptable property suitable for various business or residential purposes.
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      Retail Space For Lease

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      Retail Development Opportunity

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      Retail Space Inside Meijer

      Prime retail opportunity with high visibility and customer traffic.
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      1,400 SF

      Retail Spaces For Lease

      Retail spaces available on Groesbeck Hwy and 16 Mile Rd.
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    • Contact for pricing
      1,945 SF

      Retail Suites For Lease

      Retail suites available for lease in a busy strip center.
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      View Details
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    Clinton Township, MI 48036-1214
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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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