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

    36500 Gratiot Ave Clinton Township, MI 48035-1772

    • Medical offices
    • 18,504 SF
    • 1.90 lot acres
    OFF-MARKET
    Last Sale
    May 09, 2024
    Value Estimations
    $2,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1161632
    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

    • Medical offices

    Property Details for 36500 Gratiot Ave

    Year built
    1975
    Lot size
    1.90 lot acres
    Property size
    18,504 SF
    Zone code
    B-3
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    16-11-27-232-021
    APU
    161127232021

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,103,000
      Market price range: $1.41M - $3.40M
      AI Estimate
      $2,103,000
      Market price range: $1.41M - $3.40M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,275,000
      Current use
      RESTAURANT
      $2,625,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $2,245,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8927
    Latitude
    42.5657
    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
    $54,915
    $0.00
    $0.00
    $961,000
    -
    $0.00
    $0.00
    $1,922,000

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      15717 15th Mile Rd

      MEDICAL BUILDING • 1,200 SF
      15717 15th Mile Rd, Clinton Township, MI 48035-2101
      View Details
    • Value Estimation by Request
      3,746 SF

      35525 Garfield Rd

      MEDICAL BUILDING • 3,746 SF
      35525 Garfield Rd, Clinton Township, MI 48035-5521
      View Details
    • Value Estimation by Request
      1,841 SF

      36406 Garfield Rd

      MEDICAL BUILDING • 1,841 SF
      36406 Garfield Rd, Clinton Township, MI 48035-1131
      View Details
    • Value Estimation by Request
      3,400 SF

      36410 Garfield Rd

      MEDICAL BUILDING • 3,400 SF
      36410 Garfield Rd, Clinton Township, MI 48035-1131
      View Details
    • Value Estimation
      $1,525,000
      17,920 SF

      36539 Harper Ave

      MEDICAL BUILDING • 17,920 SF
      36539 Harper Ave, Clinton Township, MI 48035-2012
      View Details
    • Value Estimation by Request
      1,981 SF

      23823 15th Mile Rd

      MEDICAL BUILDING • 1,981 SF
      23823 15th Mile Rd, Clinton Township, MI 48035-3111
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,300 SF

      Neurological Building Near I-94 Access

      Full-service medical building with suites available, near I-94.
      34025 Harper Ave, Clinton Township, MI 48035
      View Details
    • $1,499,994
      12,088 SF

      Corner Commercial Building on Groesbeck

      High-visibility commercial building suitable for owner-occupants, investors, or redevelopment.
      34001 Groesbeck Ct, Clinton Township, MI 48035
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    • $389,000
      2,430 SF

      Groesbeck Hwy Storefront - Clinton Twp

      Prime Retail/Office Opportunity. High Visibility Location.
      36366 Groesbeck Hwy, Clinton Township, MI 48035
      View Details
    • $550,000
      4.37 Acres

      Prime Clinton Twp Office/Land

      Executive Office, Residential Land, High Visibility
      36744 Utica Rd, Clinton Township, MI 48035
      View Details
    • $375,000
      2,430 SF

      Clinton Township Office/Retail Building

      Freestanding building with signage and recent HVAC upgrades for sale.
      36366 Groesbeck Ct, Clinton Township, MI 48035
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    • $2,200,000
      11,092 SF

      Former Rite Aid: Prime Retail Space

      11,092 SF building, high traffic location, excellent visibility.
      35250 Southbound Gratiot Ave, Clinton Township, MI 48035
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      1,000 SF

      Office/Medical Space in Clinton Township

      Available office and medical space in a busy Clinton Township complex.
      16655 15 Mile Rd, Clinton Township, MI 48035
      View Details
    • $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
    • $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
    • $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
    • $15 SF/Yr
      1,400 SF

      Gratiot Ave Retail/Office Space

      Clinton Twp, MI: Prime Retail Opportunity
      36633 Gratiot Ave, Clinton Township, MI 48035
      View Details
    • Contact for pricing

      Office Space For Rent

      Office space available for lease in Clinton Township, Michigan.
      16609 15 Mile Rd, Clinton Township, MI 48035
      View Details
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    36500 Gratiot Ave
    Clinton Township, MI 48035-1772
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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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