Property profile

3605 15th Mile Rd Sterling Heights, MI 48310

OFF-MARKET
Grocery and convenience stores
Property ID
US43-1587221
102,041 SF 13.83 ac lot Built 1978
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail opportunity presents two available spaces within a thriving Sterling Heights shopping center, strategically located at the intersection of 15 Mile and Ryan Road, in the Sterling Heights submarket. The property, known as Dream Market Anchored Center, boasts a total of 6,530 square feet of vacant space, ideally suited for multiple tenants. One space offers 1,430 square feet, while the second provides a more substantial 5,100 square feet. The building is a single structure, perfectly positioned to capitalize on the high foot traffic generated by the center's established businesses. This bustling neighborhood shopping center attracts a significant daily shopper volume, ensuring exceptional visibility and a prime location for any business seeking to establish or expand its presence. The property's location within the heart of the community guarantees access to a large and loyal customer base. This is a rare chance to secure a highly desirable retail space in one of Sterling Heights' most sought-after commercial locations, offering unparalleled potential for growth and success. The property type is classified as Retail, Office, and Restaurant, making it versatile and adaptable to a range of business needs. The tenancy is multiple, allowing for a diverse mix of businesses to thrive within the center. Don't miss this opportunity to become part of a vibrant and successful commercial hub.

Property profile

Verified
Property type Grocery and convenience stores
Use group GROCERY, SUPERMARKET
Year built 1978
Total area 102,041 SF
Lot 13.83 ac (602,435 SF)
Zoning code C-2
APN 10-10-30-476-048
UPID US43-1587221

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

3605 15th Mile Rd Sterling Heights, MI 48310-5356
Sterling Heights metro Census 231600 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$13.46M
Blend (final) Blend
$11.64M

Owner & transaction history

since 2022
Last sale
$11.5M
2 recorded transactions
2022
$11.5M
2021
Price N/A

Zoning & alternative use

C-2 · Sterling Heights, MI
Zoning description

This district is intended to provide a combination of convenience and comparison retail goods and services serving the needs of a broader market area than several neighborhood areas, as is the case with the C-1 district

General category COMMERCIAL
Top alternative use upside
Restaurant $14.5M +35.9%
Medical building $12.5M +17.7%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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