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Property profile & analytics
OFF-MARKET
Estimated value
$19,155,000
Outlet malls
27255 23rd Mile Rd Chesterfield, MI 48051-2023
Individually Owned
Absentee Owner
Free & Clear
Property ID
US43-1885671
Property summary
AI-generated overview
This exceptional retail property, located at 27255 23 Mile Road in Chesterfield, Michigan (zip code 48051), offers a fantastic opportunity for businesses seeking high-visibility space in Macomb County. The property boasts a total of 5,037 square feet of commercial space, currently featuring multiple tenancies. Two spaces are immediately available, each offering flexible layouts. One space offers a minimum of 1,208 square feet, while the maximum contiguous space available is 1,338 square feet. This allows for adaptability to suit a variety of business needs and sizes. The building currently has 2,546 square feet of vacant space ready for immediate occupancy. The property's strategic location in New Baltimore provides excellent access to a thriving community and high traffic volume. This is an ideal location for businesses seeking strong visibility and convenient access for customers. The property is classified as retail commercial space and is situated in a prime location within Macomb County, Michigan. Interested parties are encouraged to inquire about lease terms and availability. Don't miss this chance to establish your business in this desirable location.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1994
Total area
204,318 SF
Lot
27.75 ac (1,208,790 SF)
Zoning code
C3 GEN
APN
15-09-17-351-011
UPID
US43-1885671
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Meijer Pharmacy Pharmacy
-
Primo Water Refill & Exchange Big Box & Wholesale Store
-
Secretary of State Self-service Station Department Of Motor Vehicles Kiosk
-
Western Union Bank Credit Union
-
higi Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.15M
Blend (final)
Blend
$19.16M
Owner & transaction history
MEIJER
MEIJER
Zoning & alternative use
C3 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$19.16M
Range $17.24M – $21.07M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$94 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$244,639
Tax year 2022
Assessed value
$4,865,500
Assessed 2023
Previous assessed
$4,751,300
+2.4% YoY
Effective rate
5.03%
On assessed value
Total market value
$9,731,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1994
Heating
FORCED AIR
Stories
1
Total area
204,318 SF
Lot
27.75 ac (1,208,790 SF)
Zoning code
C3 GEN
APN
15-09-17-351-011
UPID
US43-1885671
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C3 GEN · Chesterfield, MIZoning C3 GEN · permitted uses
C3 GEN · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1994
Heating
FORCED AIR
Stories
1
Lot
27.75 ac
Current owner
From public records · entity-resolved
MEIJER
Individual
Free & Clear · 0 yrs held
Mailing address
2929 WALKER AVE NW, GRAND RAPIDS, MI 49544-6402
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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