Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24601 Capital Blvd Clinton Township, MI 48036-1345

    • Flex space
    • 80,160 SF
    • 3.84 lot acres
    OFF-MARKET
    Last Sale
    Jan 17, 2025
    Value Estimations
    $4,860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0168613
    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

    • Flex space

    Property Details for 24601 Capital Blvd

    Year built
    1995
    Lot size
    3.84 lot acres
    Property size
    80,160 SF
    Zone code
    I-1
    Property type
    Flex space
    APN
    16-11-01-276-018
    APU
    161101276018

    Description

    This fee-simple industrial property in Clinton Township, Michigan, offers a compelling investment opportunity. The 80,160-square-foot building, constructed in 1995 and 2003, sits on a 3.836-acre lot and is zoned I-1 Light Industrial. Currently 100% occupied by Plast-O-Foam, a Tier I automotive supplier, under a Net Lease (NNN) agreement, the property boasts a strong 12.6-year remaining lease term with two five-year options. The lease includes annual 2% rent bumps, ensuring consistent income growth. The building features two stories, eight loading docks, four dock-high doors, and a 30-foot ceiling height. Plast-O-Foam, a long-term tenant since 2003, operates this location as its corporate headquarters, highlighting the property's mission-critical nature. The property enjoys a highly desirable location just off I-94, benefiting from significant daily traffic volume exceeding 78,000 vehicles. The current Net Operating Income (NOI) stands at $509,583, representing an attractive below-market rent. This passive investment opportunity presents minimal landlord responsibilities, making it an ideal addition to any portfolio. The property's strong tenant, long-term lease, and strategic location combine to create a secure and profitable investment. The property's APN is 16-11-01-276-018.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,858,000
      Market price range: $4.86M - $7.58M
      AI Estimate
      $4,858,000
      Market price range: $4.86M - $7.58M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $5,985,000
      Current use
      OFFICE BUILDING
      $7,600,000
      Change: +27% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $6,895,000
      Change: +15% Conversion: Easy
      WAREHOUSE, STORAGE
      $5,405,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8587
    Latitude
    42.6234
    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
    $121,155
    $0.00
    $0.00
    $2,235,900
    -
    $0.00
    $0.00
    $4,471,800

    Comparable in this City

    • Value Estimation
      $1,710,000
      27,840 SF

      22284 Starks Dr

      LIGHT INDUSTRIAL • 27,840 SF
      22284 Starks Dr, Clinton Township, MI 48036-1199
      View Details
    • Value Estimation
      $5,900,000
      97,328 SF

      23500 John Gorsuch Dr

      LIGHT INDUSTRIAL • 97,328 SF
      23500 John Gorsuch Dr, Clinton Township, MI 48036-1215
      View Details
    • Value Estimation
      $2,680,000
      42,066 SF

      24700 Capital Blvd

      LIGHT INDUSTRIAL • 42,066 SF
      24700 Capital Blvd, Clinton Township, MI 48036-1350
      View Details
    • Value Estimation
      $845,000
      13,830 SF

      44455 Reynolds Dr

      LIGHT INDUSTRIAL • 13,830 SF
      44455 Reynolds Dr, Clinton Township, MI 48036-1245
      View Details
    • Value Estimation
      $840,000
      13,828 SF

      44431 Reynolds Dr

      LIGHT INDUSTRIAL • 13,828 SF
      44431 Reynolds Dr, Clinton Township, MI 48036-1245
      View Details
    • Value Estimation
      $855,000
      12,008 SF

      44479 Reynolds Dr

      LIGHT INDUSTRIAL • 12,008 SF
      44479 Reynolds Dr, Clinton Township, MI 48036-1245
      View Details

    Similar Nearby for Sale

    • $1,200,000
      4.97 Acres

      Prime Clinton Twp Industrial Land

      4.97 Acres, I-1 Zoning, High Visibility
      0 Groesbeck Hwy & Weybridge St, Clinton Township, MI 48036
      View Details
    • $1,200,000
      2.27 Acres

      Hall Road Commercial Land, MI

      2.27 Acres, I-1 Zoning, High Traffic
      22480 Hall Rd, Clinton Township, MI 48036
      View Details
    • $3,500,000
      22,300 SF

      Macomb County Medical Office Building

      22,300 SF Medical Office for Sale
      22550 Hall Rd, Clinton Township, MI 48036
      View Details
    • $59,990
      1,056 SF

      Well-Maintained Home with Community Amenities

      Three-bedroom, two-bathroom manufactured home with modern amenities and community features.
      37840 Culver Dr, Clinton Twp, MI 48036
      View Details
    • $445,000
      1 SF

      Industrial Land For Sale

      1.88 acres of industrial land for sale.
      Maplehurst Dr, Clinton Township, MI 48036
      View Details
    • $50,000
      60,000 SF

      Detroit-Themed Business Opportunity

      Business opportunity with Detroit theme in Clinton Township, Michigan.
      37051 Gratiot Ave, Clinton Township, MI 48036
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      1,973 SF

      Clinton Township Flex Space Available

      Flex space with office and mezzanine storage for lease.
      44830-44990 Vic Wertz Dr, Clinton Township, MI 48036
      View Details
    • Contact for pricing

      Groesbeck Highway Flex Space

      Flex space with office and overhead doors near I-94.
      43939 North Groesbeck Hwy, Clinton Township, MI 48036
      View Details
    • Contact for pricing

      Industrial Building with Air Conditioning

      11,040 SF industrial building with air conditioning and easy access.
      Clinton Twp, MI 48036
      View Details
    • Contact for pricing

      Groesbeck Highway Flex Space

      Flex space with office and overhead doors near I-94.
      43917 North Groesbeck Hwy, Clinton Township, MI 48036
      View Details
    • $8 SF/Yr
      11,040 SF

      Industrial Building Near M-59

      11,040 SF industrial building with air-conditioning near M-59.
      44837 Macomb Industrial Dr, Clinton Township, MI 48036
      View Details
    • $8 SF/Yr
      13,194 SF

      Industrial Facility with Corporate Image

      Shop and office space available in Clinton Township, Michigan.
      44810 Vic Wertz Dr, Clinton Township, MI 48036
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24601 Capital Blvd
    Clinton Township, MI 48036-1345
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.