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    Property profile & analytics

    42700 Garfield Rd, Unit I Clinton Township, MI 48038

    • Medical offices
    • 40,670 SF
    • 4.29 lot acres
    For Sale
    View listing
    $17
    Last Sale
    Jul 24, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1558943
    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 42700 Garfield Rd

    Year built
    2007
    Lot size
    4.29 lot acres
    Property size
    40,670 SF
    Zone code
    OS-1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    16-11-08-101-033
    APU
    161108101033

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,480,000
      Market price range: $3.10M - $7.48M
      AI Estimate
      $7,480,000
      Market price range: $3.10M - $7.48M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,995,000
      Current use
      RESTAURANT
      $5,765,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $4,935,000
      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
    -82.9515
    Latitude
    42.6108
    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
    $180,058
    $0.00
    $0.00
    $4,096,900
    -
    $0.00
    $0.00
    $8,193,800

    Comparable in this City

    • Value Estimation
      $2,330,000
      18,010 SF

      15400 19th Mile Rd

      MEDICAL BUILDING • 18,010 SF
      15400 19th Mile Rd, Clinton Township, MI 48038-6327
      View Details
    • Value Estimation
      $9,755,000
      64,343 SF

      43900 Garfield Rd

      MEDICAL BUILDING • 64,343 SF
      43900 Garfield Rd, Clinton Township, MI 48038-1128
      View Details
    • Value Estimation
      $1,570,000
      12,351 SF

      16404 19th Mile Rd

      MEDICAL BUILDING • 12,351 SF
      16404 19th Mile Rd, Clinton Township, MI 48038-1105
      View Details
    • Value Estimation
      $2,510,000
      19,648 SF

      15420 19th Mile Rd

      MEDICAL BUILDING • 19,648 SF
      15420 19th Mile Rd, Clinton Township, MI 48038-6339
      View Details
    • Value Estimation
      $1,925,000
      16,170 SF

      43401 Garfield Rd

      MEDICAL BUILDING • 16,170 SF
      43401 Garfield Rd, Clinton Township, MI 48038-1151
      View Details
    • Value Estimation by Request
      12,560 SF

      43475 Dalcoma Dr, Unit 8

      MEDICAL BUILDING • 12,560 SF
      43475 Dalcoma Dr, Clinton Township, MI 48038-3591
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      High Image Medical Facility

      Medical facility near Hall Road, Henry Ford, and Beaumont Hospitals.
      42700 Garfield Rd, Clinton Township, MI 48038
      View Details
    • Contact for pricing
      24,000 SF

      Hall Road Commercial Build-to-Suit

      Up to 24,000 SF retail, medical, or office space.
      1.839 Acres On Hall Rd, Clinton Township, MI 48038
      View Details
    • $6,200,000
      16,548 SF

      Clinton Twp Medical Office Building

      16,548 SF Medical Facility, $6.2M
      16100 19 Mile Rd, Clinton Township, MI 48038
      View Details
    • $1,150,000
      38,000 SF

      Executive Office Building, Clinton Twp

      38,000 SF Office Condo, $1.15M
      42512 Hayes Rd, Clinton Township, MI 48038
      View Details
    • $1,100,000
      6,000 SF

      Free Standing Office Building

      Office building for user/investor with income-producing tenant.
      41800-41960 Hayes Rd, Clinton Township, MI 48038
      View Details
    • Contact for pricing
      40,215 SF

      Retail/Office Space on Garfield Road

      Retail or office space with high traffic and ample parking.
      39725 Garfield Rd, Clinton Township, MI 48038
      View Details

    Similar Nearby for Lease

    • $3,867 /Mo

      Medical Space for Lease

      Existing medical space with signage and ample parking.
      42645 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $12 SF/Yr
      15,560 SF

      Prima Professional Building: Clinton Twp Office Space

      Modern Office Suites, 1,705+ sq ft available
      39425 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $16 SF/Yr
      16,783 SF

      Blue Stone Medical Building For Sale

      Class A Medical Office Building, Macomb County
      43650 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $10 SF/Yr
      2,423 SF

      Prime Medical Office Space Available

      Versatile Office Suites near Henry Ford Hospital
      42490 Garfield Rd, Clinton Township, MI 48038
      View Details
    • $10 SF/Yr
      37,440 SF

      Hayes Road Office Suites Available

      Clinton Twp Office Space: 800-8,000 SF
      40510-40522 Hayes Rd, Clinton Township, MI 48038
      View Details
    • $7 SF/Yr
      10,741 SF

      Macomb County Medical Office Space

      Prime Medical Office Suites Available Now
      43171 Dalcoma Dr, Clinton Township, MI 48038
      View Details
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    Clinton Township, MI 48038
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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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