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    57070 Gratiot Ave New Haven, MI 48048-2615

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    57070 Gratiot Ave New Haven, MI 48048-2615

    View on Map
    • Bars & Pubs
    • 5,192 SF
    • 0.80 lot acres
    Off-Market
    Property ID
    US43-2491664
    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.
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bars & Pubs

    Property Details for 57070 Gratiot Ave

    Year built
    1935
    Lot size
    0.80 lot acres
    Property size
    5,192 SF
    Zone code
    GB
    Property type
    Bars & Pubs
    Property subtype
    Pubs
    APN
    26-06-33-476-009
    APU
    260633476009

    Description

    This exceptional Class A medical office building, completed in 2023, offers a prime opportunity for medical professionals seeking high-visibility space in a thriving New Haven, Michigan location. Situated on a hard corner at the intersection of 26 Mile and Gratiot Avenue, this single-story, 10,000 square foot building boasts 5 suites, with 4,181 square feet currently available. Individual suites range from 1,010 to 2,021 contiguous square feet, providing flexibility for various medical practices. The building features a 17-foot ceiling height and ample parking with 50 spaces. The property sits on 2 acres of land and is zoned for retail and commercial use. Its strategic location provides convenient access to major thoroughfares, ensuring high traffic flow and excellent visibility for your business. This is a rare opportunity to establish a presence in a rapidly growing area with a strong local economy. The building offers modern amenities and is ready for immediate occupancy. Inquire today to learn more about leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $736,000
      Market price range: $451k - $1.22M
      AI Estimate
      $736,000
      Market price range: $451k - $1.22M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $735,000
      Current use
      MEDICAL BUILDING
      $640,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    Macomb
    State
    Michigan
    Longitude
    -82.7961
    Latitude
    42.7199
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $20,770,000
      210,688 SF

      36865 26th Mile Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 210,688 SF
      36865 26th Mile Rd, Lenox, MI 48048-3163
      View Details
    • Value Estimation
      $21,980,000
      210,688 SF

      36865 26th Mile Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 210,688 SF
      36865 26th Mile Rd, Lenox, MI 48048-3163
      View Details
    • Value Estimation by Request
      3.00 Acres

      27 Mile Rd

      Land • 3.00 Acres
      27 Mile Rd, New Haven, MI 48048
      View Details
    • Value Estimation by Request

      36367 26 Mile Rd

      Neighborhood centers
      36367 26 Mile Rd, Lenox, MI 48048
      View Details
    • Value Estimation by Request
      1,370 SF

      58316 Main St

      NURSERY, GREENHOUSE, FLORIST • 1,370 SF
      58316 Main St, New Haven, MI 48048-2670
      View Details
    • Value Estimation by Request
      2.29 Acres

      Twenty-Six Mile Rd

      Land • 2.29 Acres
      0 Twenty-Six Mile Rd, New Haven, MI 48048
      View Details

    Similar Nearby for Sale

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      Agricultural land with potential for rezoning near major retailers.
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      6,400 SF

      Turnkey Neighborhood Market Opportunity

      Established grocery store in high-traffic area. Business opportunity.
      59069 Gratiot Ave, New Haven, MI 48048
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      12,808 SF

      Industrial Property with Drive-Thru Access

      Industrial property featuring drive-thru capabilities and ample outside storage.
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    Similar Nearby for Lease

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      Retail Space Inside Meijer Store

      Prime retail space with high visibility and customer traffic.
      36865 26 Mile Rd, Lenox, MI 48048
      View Details
    • Contact for pricing

      Retail Space in High-Visibility Location

      Retail space for lease in a rapidly growing commercial corridor.
      57070 Gratiot Ave, New Haven, MI 48048
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      Corewell Health Outpatient Care Center

      Medical office spaces in a newly developed, amenity-rich medical campus.
      36555 26 Mile Rd, Lenox, MI 48048
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    • Contact for pricing

      Land for Ground Lease

      Commercial land available for ground lease near I-94.
      Twenty-Six Mile Rd, Lenox, MI 48048
      View Details
    • Contact for pricing
      5,445 SF

      Medical Office Space Available

      Flexible medical spaces with easy access and on-site management.
      36555 26 Mile Rd, Lenox, MI 48048
      View Details
    • Contact for pricing

      Office/Hi-Tech Space For Rent

      Office/Hi-Tech space available for rent, landlord may divide.
      31029 Comcast Dr, New Haven, MI 48048
      View Details
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    New Haven, MI 48048-2615
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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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