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Property profile & analytics
OFF-MARKET
Estimated value
$1,395,000
Office buildings
50475 Gratiot Ave, Chesterfield, MI 48051-3128
Entity Owned
18-yr Hold
Free & Clear
Property ID
US43-1150268
Property summary
AI-generated overview
This exceptional Class A office building, located at 50475 Gratiot in Chesterfield, Michigan (48051), presents a rare opportunity. The single-tenant property boasts 9,679 total square feet, with 3,450 square feet currently available. Built in 1987, the one-story structure sits on a generous 1.77-acre lot (APN: 09-20-151-007) and offers excellent visibility due to its Gratiot frontage. The convenient location provides close proximity to I-94, ensuring easy access for employees and clients. Ample parking is available with 62 spaces. The property is zoned C3 Gen and features a prominent monument sign, enhancing its marketing potential. The building's executive office subtype caters to businesses seeking a prestigious and functional workspace. This is an ideal opportunity for a business seeking to establish a strong presence in a thriving Macomb County location. The property includes all the amenities expected of a Class A building. Interested parties should note that the available space ranges from 1,200 to 3,450 square feet. The cross street is South 23 Mile, West Side of Gratiot.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
12,279 SF
Lot
1.77 ac (77,101 SF)
Zoning code
C3 GEN
APN
15-09-20-151-007
UPID
US43-1150268
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
RE/MAX First - Chesterfield Township Real Estate Agency
-
Select Real Estate Tara Nysen Real Estate Agency
-
Realtor Jen Hicks RE/MAX First Real Estate Agency
-
chris taylor realtor Real Estate Agency
-
Jim Kaschalk Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.40M
Blend (final)
Blend
$1.40M
Owner & transaction history
Patraikos I LLC · 18 yrs held
Patraikos I LLC
since 2007
1 recorded transaction
Zoning & alternative use
C3 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.3M
+96.1%
Restaurant
$1.7M
+49.5%
Medical building
$1.5M
+29.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,165,000
Current use
RETAIL STORES
$2,285,000
Change: +96% · Conversion: Moderate
RESTAURANT
$1,740,000
Change: +50% · Conversion: Moderate
MEDICAL BUILDING
$1,510,000
Change: +30% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,260,000
Change: +8% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,055,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.53M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$114 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$26,567
Tax year 2022
Assessed value
$625,700
Assessed 2023
Previous assessed
$608,700
+2.8% YoY
Effective rate
4.25%
On assessed value
Total market value
$1,251,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Stories
1
Total area
12,279 SF
Lot
1.77 ac (77,101 SF)
Zoning code
C3 GEN
APN
15-09-20-151-007
UPID
US43-1150268
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C3 GEN · Chesterfield, MI
Zoning C3 GEN · permitted uses
C3 GEN · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
RETAIL STORES
Est. value
$2.3M
RESTAURANT
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING Current
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Heating
FORCED AIR
Stories
1
Lot
1.77 ac
Current owner
From public records · entity-resolved
Patraikos I LLC
Entity
Free & Clear · 18 yrs held
Mailing address
50355 GRATIOT AVE, CHESTERFIELD, MI 48051-3126
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2007
—
Patraikos I LLC
Sboukis,louis & Elizabeth
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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