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Property profile & analytics

31240 Groesbeck Hwy Fraser, MI 48026

  • Commercial real estate
  • 63,602 SF
  • 6.17 lot acres
For Lease
Last Sale
Dec 04, 2023
$5,250,000
Value Estimations
$5,750,000
Cap Rate Potential
Location Intelligence
Property ID
US43-1423123
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

  • Coinstar / Money Transfer Service
  • Huntington Bank / Bank
  • Oakridge Supermarket / Grocery Store / Supermarket
  • Huntington Bank - ATM Only / Atm
  • Family Dollar / Toy Store / Dollar Store

Property Details for 31240 Groesbeck Hwy

Year built
1970
Lot size
6.17 lot acres
Property size
63,602 SF
Zone code
CG
Property type
Commercial real estate
APN
03-14-05-376-032
APU
31405376032

Description

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.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $5,445,000
  • Comparable approach

    Method
    Estimation
    Statistic Estimate
    $6,670,000
    Market price range: $3.53M - $10.8M
    AI Estimate
    $6,670,000
    Market price range: $3.53M - $10.8M
  • Alternative Use

    Use
    Estimation
    COMMERCIAL (GENERAL)
    $6,540,000
    Current use
    RESTAURANT
    $9,015,000
    Change: +38% Conversion: Difficult
    MEDICAL BUILDING
    $7,810,000
    Change: +19% Conversion: Easy
    RETAIL STORES
    $6,635,000
    Change: +1% Conversion: Easy
    OFFICE BUILDING
    $6,030,000
    Change: -8% Conversion: Easy
    AUTO REPAIR, GARAGE
    $5,470,000
    Change: -16% Conversion: Difficult

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


Location Insight

  • Map
  • Local Demand
City
Fraser
County
Macomb
State
Michigan
Longitude
-82.9437
Latitude
42.526
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
$144,155
$0.00
$0.00
$2,504,600
-
$0.00
$0.00
$5,009,200
More about this property
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