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    Property profile & analytics

    37235 S Groesbeck Hwy Clinton Township, MI 48036

    • Commercial real estate
    • 14,080 SF
    • 1.30 lot acres
    For Lease
    View listing
    Last Sale
    Jul 17, 2023
    $550,000
    Value Estimations
    $800,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1716463
    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 37235 S Groesbeck Hwy

    Year built
    1973
    Lot size
    1.30 lot acres
    Property size
    14,080 SF
    Zone code
    B-3
    Property type
    Commercial real estate
    APN
    16-11-22-351-006
    APU
    161122351006

    Description

    Parkway Center, located at 37235 S Groesbeck Hwy in Clinton Township, Michigan, offers exceptional retail space for lease. This multi-tenant property boasts a total of 14,080 square feet, with three individual spaces currently available. Each space offers ample square footage, ranging from 1,400 to 1,435 square feet, providing flexibility for various retail businesses. The property is conveniently situated in Macomb County, within easy reach of major thoroughfares and a substantial customer base. The "street retail" configuration ensures high visibility and accessibility for potential customers. This presents a unique opportunity for businesses seeking a well-established location with significant foot traffic. The property's address is 37235 S Groesbeck Hwy, Clinton Township, MI 48036. Interested parties are encouraged to inquire about lease terms and availability for these highly desirable retail spaces. The property type is retail, and the tenancy is multiple. The total building square footage is 14,080 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $570,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $1,210,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9105
    Latitude
    42.5727
    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
    $21,545
    $0.00
    $0.00
    $438,000
    -
    $0.00
    $0.00
    $876,000

    Comparable in this City

    • Value Estimation by Request
      87.32 Acres

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    • Value Estimation by Request
      0.92 Acres

      22380 Starks Dr

      COMMERCIAL (GENERAL) • 0.92 Acres
      22380 Starks Dr, Clinton Township, MI 48036-1197
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      4,916 SF

      43544 Gratiot Ave

      COMMERCIAL (GENERAL) • 4,916 SF
      43544 Gratiot Ave, Clinton Township, MI 48036-3329
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    • Value Estimation by Request
      1,533 SF

      44110 Gratiot Ave

      COMMERCIAL (GENERAL) • 1,533 SF
      44110 Gratiot Ave, Clinton Township, MI 48036-1309
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    • Value Estimation by Request
      0.31 Acres

      Joy Blvd

      COMMERCIAL (GENERAL) • 0.31 Acres
      Joy Blvd, Clinton Township, MI 48036
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    • Value Estimation by Request
      7.84 Acres

      44000 Nn Ave

      COMMERCIAL (GENERAL) • 7.84 Acres
      44000 Nn Ave, Clinton Township, MI 48036-1166
      View Details

    Similar Nearby for Sale

    • $200,000
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      Prime Clinton Twp Commercial Land

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    • $3,749,000
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      S. Groesbeck Hwy Commercial Land

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      Prime Corner Lot, Clinton Twp

      High-visibility commercial land, ready to develop.
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    • $1,690,000
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      Ingleside Center: Clinton Twp Retail

      High-traffic shopping center, excellent visibility.
      37601 Southbound Gratiot Ave, Clinton Township, MI 48036
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    • $400,000
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      Prime Clinton Twp Commercial Land

      300-1180 acres, $400,000
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    • $999,000
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      Groesbeck Highway Commercial Land

      3.1-acre commercial lot, high traffic area.
      37361 Groesbeck Hwy, Clinton, MI 48036
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    Similar Nearby for Lease

    • $8 SF/Yr
      11,040 SF

      Industrial Building Near M-59

      11,040 SF industrial building with air-conditioning near M-59.
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    • $8 SF/Yr
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      Industrial Facility with Corporate Image

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    • $15 SF/Yr
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    • $15 SF/Yr
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      Turn-key Restaurant in Clinton Township

      Restaurant space with FF&E and liquor license available for rent.
      44875-44905 Morley Dr, Clinton Township, MI 48036
      View Details
    • $9 SF/Yr
      1,973 SF

      Clinton Township Flex Space Available

      Flex space with office and mezzanine storage for lease.
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      View Details
    • $15 SF/Yr
      1,800 SF

      Retail Space on Harper Avenue

      Retail space available for lease in Clinton Township, MI.
      37507-37527 Harper Ave, Clinton Township, MI 48036
      View Details
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    Clinton Township, MI 48036
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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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