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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    35478 Groesbeck Hwy Clinton Township, MI 48035-2517

    • Commercial real estate
    • 23,600 SF
    • 2.06 lot acres
    OFF-MARKET
    Last Sale
    Oct 24, 2024
    $1,240,000
    Value Estimations
    $1,550,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1802508
    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

    • Commercial real estate

    Property Details for 35478 Groesbeck Hwy

    Year built
    1985
    Lot size
    2.06 lot acres
    Property size
    23,600 SF
    Zone code
    I-1
    Property type
    Commercial real estate
    APN
    16-11-28-451-016
    APU
    161128451016

    Description

    This single-story, 23,297 square foot shopping center, located at 35478-35520 Groesbeck Hwy in Macomb County, offers multiple retail and office spaces for lease. Built in 1985 and renovated in 2001, the Class C property sits on a 2.06-acre lot (APN: 16-11-28-451-016) and boasts excellent traffic counts due to its prime location at the intersection of Groesbeck Hwy and 15 Mile Road. The center features 15 suites, with a total of 7,700 square feet currently vacant. Available spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 3,700 square feet. The property includes ample parking with 55+ spaces. The zoning is B3. This is an exceptional opportunity for businesses seeking high visibility and a motivated landlord offering aggressive rates. Join a diverse mix of existing tenants in this well-located center. No elevators are present.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,863,000
      Market price range: $1.31M - $3.99M
      AI Estimate
      $1,863,000
      Market price range: $1.31M - $3.99M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,425,000
      Current use
      RETAIL STORES
      $2,460,000
      Change: +1% Conversion: Easy
      OFFICE BUILDING
      $2,235,000
      Change: -8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,030,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9202
    Latitude
    42.5577
    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
    $47,262
    $0.00
    $0.00
    $699,700
    -
    $0.00
    $0.00
    $1,399,400

    Comparable in this City

    • Value Estimation by Request
      29.33 Acres

      24520 Eastwood Vlg Dr

      COMMERCIAL (GENERAL) • 29.33 Acres
      24520 Eastwood Vlg Dr, Clinton Township, MI 48035-2007
      View Details
    • Value Estimation by Request
      1.40 Acres

      34100 Gratiot Ave

      COMMERCIAL (GENERAL) • 1.40 Acres
      34100 Gratiot Ave, Clinton Township, MI 48035-3536
      View Details
    • Value Estimation by Request
      19.00 Acres

      34594 Lipke St

      COMMERCIAL (GENERAL) • 19.00 Acres
      34594 Lipke St, Clinton Township, MI 48035-3621
      View Details
    • Value Estimation by Request
      1.16 Acres

      15777 15th Mile Rd

      COMMERCIAL (GENERAL) • 1.16 Acres
      15777 15th Mile Rd, Clinton Township, MI 48035-2101
      View Details
    • Value Estimation by Request
      5.00 Acres

      19700 15th Mile Rd

      COMMERCIAL (GENERAL) • 5.00 Acres
      19700 15th Mile Rd, Clinton Township, MI 48035-3406
      View Details
    • Value Estimation
      $710,000
      7,480 SF

      20571 15th Mile Rd

      COMMERCIAL (GENERAL) • 7,480 SF
      20571 15th Mile Rd, Clinton Township, MI 48035-3422
      View Details

    Similar Nearby for Sale

    • $2,895,000
      13.13 Acres

      35765 Groesbeck Hwy

      Land • 13.13 Acres
      35765 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • $1,800,000
      1.15 Acres

      Groesbeck Hwy Commercial Land

      Prime Clinton Township commercial lot. High-traffic location.
      34700 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • $2,300,000
      12,000 SF

      Prime Clinton Twp. Banquet Hall & Restaurant

      Established Business, High-Traffic Location
      36217 Southbound Gratiot Ave, Clinton Township, MI 48035
      View Details
    • $389,000
      2,430 SF

      Groesbeck Hwy Storefront - Clinton Twp

      Prime Retail/Office Opportunity. High Visibility Location.
      36366 Groesbeck Hwy, Clinton Township, MI 48035
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    • $399,000
      1.93 Acres

      Union Lake Villas: Apartment Complex

      20-unit apartment complex, prime location
      16 Mile Rd, Harrison Township, MI 48035
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    • Contact for pricing
      0.10 Acres

      Vacant Land in Clinton Township

      Vacant parcel with potential for residential or investment use.
      41 Charles St, Clinton Township, MI 48035
      View Details

    Similar Nearby for Lease

    • $1,750 /Mo

      Flex Space with Office Component

      1800 SF flex space with office and overhead door.
      22657 15 Mile Rd, Clinton Township, MI 48035
      View Details
    • $550 /Mo

      Professionally Managed Office Building For Rent

      Well-maintained office building with multiple private entrances.
      35807 Moravian Rd, Clinton Township, MI 48035
      View Details
    • $495 /Mo
      150 SF

      Clinton Township Office Space

      Well-maintained office building with multiple private entrances in Clinton Township.
      35807 Moravian Rd, Clinton Township, MI 48035
      View Details
    • Contact for pricing
      135,450 SF

      Clinton Pointe Retail Space Available

      Macomb County retail space; 2,750-3,250 sq ft.
      0 Gratiot Ave. & Quinn Rd, Clinton Township, MI 48035
      View Details
    • $15 SF/Yr
      135,450 SF

      Clinton Pointe Shopping Center

      High-traffic retail space available
      33802 Gratiot Ave, Clinton Township, MI 48035
      View Details
    • $7 SF/Yr
      9,755 SF

      Utica Road Commercial Space

      9,755 SF Multi-Use Building, High Traffic
      35850 Utica Rd, Clinton Township, MI 48035
      View Details
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    35478 Groesbeck Hwy
    Clinton Township, MI 48035-2517
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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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