Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    40375 Utica Rd Sterling Heights, MI 48313-4172

    • Grocery and convenience stores
    • 1,827 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Jun 21, 2023
    $470,000
    Value Estimations
    $440,000
    Show details
    Cap Rate Potential
    2.8%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US43-5167421
    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

    • Grocery and convenience stores

    Property Details for 40375 Utica Rd

    Year built
    1966
    Lot size
    0.69 lot acres
    Property size
    1,827 SF
    Zone code
    C-1
    Property type
    Grocery and convenience stores
    APN
    10-10-14-151-001
    APU
    101014151001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $306,000
      Market price range: $105k - $306k
      AI Estimate
      $306,000
      Market price range: $105k - $306k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $345,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sterling Heights
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0107
    Latitude
    42.591
    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
    $16,459
    $0.00
    $0.00
    $318,600
    -
    $0.00
    $0.00
    $637,200

    Comparable in this City

    • Value Estimation by Request
      2,460 SF

      39725 Van Dyke Ave

      GROCERY, SUPERMARKET • 2,460 SF
      39725 Van Dyke Ave, Sterling Heights, MI 48313-4619
      View Details
    • Value Estimation by Request
      3,600 SF

      40428 Van Dyke Ave

      GROCERY, SUPERMARKET • 3,600 SF
      40428 Van Dyke Ave, Sterling Heights, MI 48313-3735
      View Details
    • Value Estimation by Request
      1,736 SF

      13630 Hall Rd

      GROCERY, SUPERMARKET • 1,736 SF
      13630 Hall Rd, Sterling Heights, MI 48313-1220
      View Details
    • Value Estimation by Request
      2,400 SF

      8096 Independence Dr

      GROCERY, SUPERMARKET • 2,400 SF
      8096 Independence Dr, Sterling Heights, MI 48313-3824
      View Details
    • Value Estimation by Request
      2,088 SF

      39600 Van Dyke Ave

      GROCERY, SUPERMARKET • 2,088 SF
      39600 Van Dyke Ave, Sterling Heights, MI 48313-4671
      View Details
    • Value Estimation by Request
      17,292 SF

      13810 Lakeside Cir

      RETAIL STORES (PERSONAL SERVICES) • 17,292 SF
      13810 Lakeside Cir, Sterling Heights, MI 48313-1316
      View Details

    Similar Nearby for Sale

    • $1,125,000

      Commercial Building with Established Restaurant

      Commercial building for sale, leased to a thriving restaurant.
      39151 Van Dyke Ave, Sterling Heights, MI 48313
      View Details
    • $179,000
      1.30 Acres

      Sterling Heights Riverfront Lot

      1.3-Acre Residential Building Site
      39400 Utica Rd, Sterling Heights, MI 48313
      View Details
    • $733,000
      3,654 SF

      Sterling Heights Commercial/Industrial Opportunity

      Commercial property with main road exposure and potential owner/user opportunity.
      43303 Schoenherr Rd, Sterling Heights, MI 48313
      View Details
    • Contact for pricing
      3.00 Acres

      Lakeside Circle Senior Living

      Luxury Senior Housing Development
      14490 Lakeside Cir, Sterling Heights, MI 48313
      View Details
    • $129,900

      Prime 1.5 Acre Lot

      Approximately 1.5-acre lot with development potential in Sterling Heights.
      14700 19 Mile Rd, Sterling Heights, MI 48313
      View Details
    • $250,000
      0.63 Acres

      Sterling Heights Commercial Vacant Land

      Commercial vacant land in a prime Sterling Heights location.
      42755 Hayes Rd, Sterling Heights, MI 48313
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      3,870 SF

      Retail Space on Van Dyke

      1,350 SF retail space with frontage on Van Dyke.
      40058 Van Dyke Ave, Sterling Heights, MI 48313
      View Details
    • Contact for pricing
      102,000 SF

      Nottingham Square Retail Center

      Sterling Heights, MI: 10,880 SF Available
      43683-43893 Schoenherr Rd, Sterling Heights, MI 48313
      View Details
    • $10 SF/Yr
      58,114 SF

      Sterling Heights Retail Center

      Prime Retail Space Available in Sterling Heights, MI
      39000 Van Dyke Ave, Sterling Heights, MI 48313
      View Details
    • $15 SF/Yr
      34,886 SF

      Lakeshore Plaza Retail Space For Lease

      Sterling Heights Shopping Center, Two Units Available
      43005-43095 Hayes Rd, Sterling Heights, MI 48313
      View Details
    • Contact for pricing
      12,052 SF

      Lake Bellaire Plaza Retail Space

      Sterling Heights retail space, high traffic area.
      13923-13975 Lakeside Cir, Sterling Heights, MI 48313
      View Details
    • $32 SF/Yr
      6,375 SF

      Sterling Heights Retail Space for Lease

      Prime Retail/Restaurant Space Available in Kroger Center
      43761 Schoenherr Rd, Sterling Heights, MI 48313
      View Details

    Property Visit Statistics

    • Visits by month
      14.2k
    • Visitors by month
      11.1k
    • Avg Time on site
      13 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    40375 Utica Rd
    Sterling Heights, MI 48313-4172
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.