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    Property profile & analytics

    385 Northbound Gratiot Ave, Unit NB Mount Clemens, MI 48043-5778

    • Outlet malls
    • 9,760 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1816027
    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

    • Outlet malls

    Property Details for 385 Northbound Gratiot Ave

    Year built
    1949
    Lot size
    0.55 lot acres
    Property size
    9,760 SF
    Zone code
    CB
    Property type
    Outlet malls
    APN
    05-11-12-107-001
    APU
    51112107001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $561,000
      Market price range: $561k - $1.14M
      AI Estimate
      $561,000
      Market price range: $561k - $1.14M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $855,000
      Current use
      AUTO REPAIR, GARAGE
      $840,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Clemens
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8707
    Latitude
    42.6116
    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
    $9,589
    $0.00
    $0.00
    $210,100
    -
    $0.00
    $0.00
    $420,200

    Comparable in this City

    • Value Estimation
      $760,000
      11,448 SF

      166 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 11,448 SF
      166 Main St, Mount Clemens, MI 48043-2309
      View Details
    • Value Estimation
      $550,000
      9,600 SF

      28 Riverview Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 9,600 SF
      28 Riverview Dr, Mount Clemens, MI 48043-5915
      View Details
    • Value Estimation by Request
      1,749 SF

      149 Huron Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,749 SF
      149 Huron Ave, Mount Clemens, MI 48043-1713
      View Details
    • Value Estimation
      $725,000
      16,200 SF

      295 Southbound Gratiot Ave, Unit SB

      WHOLESALE OUTLET, DISCOUNT STORE • 16,200 SF
      295 Southbound Gratiot Ave, Mount Clemens, MI 48043-2416
      View Details
    • Value Estimation by Request
      22,300 SF

      234 Gratiot Ave

      Neighborhood centers • 22,300 SF
      234 Gratiot Ave, Mount Clemens, MI 48043
      View Details
    • Value Estimation by Request
      28,235 SF

      59 Walnut St

      Coworking space • 28,235 SF
      59 Walnut St, Mount Clemens, MI 48043
      View Details

    Similar Nearby for Sale

    • $1,590,000
      9,209 SF

      Downtown Mt. Clemens Bar & Restaurant

      Turnkey operation, high-revenue potential
      110 Macomb Pl, Mount Clemens, MI 48043
      View Details
    • $450,000
      4,000 SF

      Mt. Clemens Retail Building For Sale

      Freestanding building, 4,000 sq ft, vacant.
      95 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
    • $195,000
      2,660 SF

      Prime Mount Clemens Storefront

      Historic Retail Space, 2660 SF, $195,000
      84 Macomb Pl, Mount Clemens, MI 48043
      View Details
    • $474,006
      2,301 SF

      Freestanding Catering Kitchen in Mount Clemens

      Single-tenant catering kitchen in Mount Clemens, Detroit MSA.
      1120 Southbound Gratiot Ave, Mount Clemens, MI 48043
      View Details
    • $475,000
      2,016 SF

      Mount Clemens Bar & Real Estate

      Established Bar, Turn-Key Opportunity
      0 Confidential, Mount Clemens, MI 48043
      View Details
    • $444,000

      Historic Building in Mt. Clemens

      Historic office and retail building in move-in condition.
      56 Macomb Pl, Mount Clemens, MI 48043
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      22,300 SF

      Gratiot Plaza Retail Space Available

      Prime Mt. Clemens Retail Strip Center
      234 Gratiot Ave, Mount Clemens, MI 48043
      View Details
    • $12 SF/Yr
      6,741 SF

      Mount Clemens Retail Space For Lease

      Prime Retail Space, 6,741 SF, 4 Parking Spaces
      35 Walnut St, Mount Clemens, MI 48043
      View Details
    • $10 SF/Yr
      84,000 SF

      Mt. Clemens Commercial Space Available

      Prime Retail & Industrial Space, Multiple Tenants
      80 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
    • Contact for pricing
      28,235 SF

      Downtown Mount Clemens Office Space

      Prime location, flexible suites, coworking amenities.
      59 Walnut St, Mount Clemens, MI 48043
      View Details
    • $29 SF/Yr
      11,954 SF

      Mt. Clemens Office/Retail Space

      Modern Office & Retail Suites Available
      60 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
    • $18 SF/Yr
      8,000 SF

      Prime Retail Space, Mt. Clemens

      8,000 SF Retail, River Views, Flexible Spaces
      55 Main St, Mount Clemens, MI 48043
      View Details
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    Mount Clemens, MI 48043-5778
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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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