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Property profile & analytics
FOR LEASE
Commercial real estate

31240 Groesbeck Hwy Fraser, MI 48026

63,602 SF 6.17 ac lot Built 1970
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US43-1423123
Property summary
AI-generated overview

This exceptional 11,000 square foot shopping center in Macomb County presents a prime retail leasing opportunity. Currently under new ownership and management, the center has recently undergone renovations, ensuring a modern and attractive space for tenants. Three spaces are available, ranging from a minimum of 2,000 square feet to a maximum contiguous space of 7,000 square feet. The entire 11,000 square feet is currently vacant, offering a unique chance for a single large tenant or multiple smaller businesses. Strategically located at the intersection of 13 Mile Road, Groesbeck Avenue, and Utica Road, the center benefits from high visibility and exceptional traffic counts. Groesbeck Avenue sees over 28,000 vehicles per day, providing significant exposure to potential customers. Multiple points of ingress and egress ensure easy access for both shoppers and employees. A large pylon sign is available for tenant branding. The center's location, one mile west of the Macomb Mall corridor along Gratiot Avenue, places it within a thriving retail area. This makes it ideal for a variety of businesses, including daily-needs retailers, service providers, restaurants, and medical practices. The Oakridge Grocery anchors the center, providing a strong draw for shoppers. Don't miss this chance to secure a prominent retail space in a high-traffic location within a revitalized shopping center.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1970
Total area 63,602 SF
Lot 6.17 ac (268,765 SF)
Zoning code CG
APN 03-14-05-376-032
UPID US43-1423123
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
  • Coinstar Bank Credit Union
  • Huntington Bank Bank Loan Service
  • Oakridge Supermarket Grocery & Convenience Store Food Market
  • Huntington Bank - ATM Only Atm
  • Family Dollar Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$6.67M
Blend (final) Blend
$5.86M
Owner & transaction history
Roseville Investment Holding LLC · 2 yrs held
Roseville Investment Holding LLC
since 2023
Last sale
$5.3M
6 recorded transactions
2023
$5.3M
2019
Price N/A
2017
Price N/A
2014
Price N/A
2010
Price N/A
1969
Price N/A
Zoning & alternative use
CG · Fraser, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $9.0M +37.9%
Medical building $7.8M +19.5%
Retail stores $6.6M +1.5%
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