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    58540 Van Dyke Ave Washington, MI 48084
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    58540 Van Dyke Ave Washington, MI 48084

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    • Office buildings
    • 5,008 SF
    • 0.11 lot acres
    For Sale
    $975,000
    View Listing →
    Washington, MI Office Building For Sale
    $975,000
    7,512 SF

    Washington, MI Office Building

    7,512 square foot office building on 0.22 acres.

    58540 Van Dyke, Washington, MI 48084
    View Listing
    Property ID
    US43-1067819
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 58540 Van Dyke Ave

    Year built
    1900
    Lot size
    0.11 lot acres
    Property size
    5,008 SF
    Zone code
    V1
    Property type
    Office buildings
    APN
    24-04-34-151-002
    APU
    240434151002

    Description

    This meticulously renovated 6,200 square foot industrial building, located at 58540 Van Dyke in Washington, MI, presents a unique investment opportunity. Originally constructed in 1900, this three-story structure, known as the Weir Block Building or the Johnson Thermol Temp building, has been completely renovated from the studs, seamlessly blending its historic character with modern functionality. The building offers up to 15 separate commercial spaces, each designed for flexibility and adaptable to various business needs. These spaces can be leased individually or combined for larger tenants, creating a dynamic environment for diverse enterprises. Accessibility is a key feature, with most spaces fully handicap accessible, including ramps and designated parking. Exterior features include convenient access via a traffic signal and heated snow melt walkways and patios, minimizing winter maintenance. Security is enhanced by an updated system including auto door locks and surveillance cameras. This property offers a rare combination of historic charm and modern amenities in a prime Washington Township location, on a 0.22-acre lot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $666,000
      Market price range: $312k - $667k
      AI Estimate
      $666,000
      Market price range: $312k - $667k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $475,000
      Current use
      RESTAURANT
      $710,000
      Change: +50% Conversion: Moderate
      MEDICAL BUILDING
      $615,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $520,000
      Change: +10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $515,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $430,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0356
    Latitude
    42.7247
    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
    $6,769
    $0.00
    $0.00
    $334,100
    -
    $0.00
    $0.00
    $668,200

    Comparable in this City

    • Value Estimation
      $1,040,000
      8,802 SF

      58047 Van Dyke Rd

      OFFICE BUILDING • 8,802 SF
      58047 Van Dyke Rd, Washington, MI 48094-4000
      View Details
    • Value Estimation
      $12,080,000
      194,122 SF

      59314 Van Dyke Rd

      OFFICE BUILDING • 194,122 SF
      59314 Van Dyke Rd, Washington, MI 48094-2206
      View Details
    • Value Estimation
      $855,000
      9,025 SF

      57900 Van Dyke Rd

      OFFICE BUILDING • 9,025 SF
      57900 Van Dyke Rd, Washington, MI 48094-2883
      View Details
    • Value Estimation by Request
      2,350 SF

      7730 Smale St

      OFFICE BUILDING • 2,350 SF
      7730 Smale St, Washington, MI 48094-3501
      View Details
    • Value Estimation by Request
      2,739 SF

      58610 Van Dyke Rd

      OFFICE BUILDING • 2,739 SF
      58610 Van Dyke Rd, Washington, MI 48094-2771
      View Details
    • Value Estimation by Request
      1,462 SF

      62356 Van Dyke Rd

      OFFICE BUILDING • 1,462 SF
      62356 Van Dyke Rd, Washington, MI 48094-1621
      View Details

    Similar Nearby for Sale

    • $975,000
      7,512 SF

      Renovated Office Building Near M-53

      Income-producing office building with elevator access and ample parking.
      58540 Van Dyke Ave, Washington, MI 48094
      View Details
    • $699,000
      0.89 Acres

      Land in Washington Twp, MI

      Commercial land ideal for restaurant, retail, medical, or office.
      58019 Van Dyke Rd, Washington Twp, MI 48094
      View Details
    • $599,000
      9.79 Acres

      Residential Land in Washington, MI

      9.79 acre residential development site in Utica School District.
      26 26 Mile Rd, Washington, MI 48094
      View Details
    • $89,000
      Pending

      Residential Lot in Washington Township

      Residential lot ready for new construction in Washington Township.
      28 28 Mile Rd, Washington Twp, MI 48094
      View Details
    • $575,000

      Developed Pad Ready For Building

      Developed building pad with parking and utilities for office/medical use.
      11549 26 Mile Rd, Washington, MI 48094
      View Details
    • Contact for pricing
      16,000 SF

      10 Acre Industrial Land Parcel

      10 acre industrial land parcel with utilities coming soon.
      61660 Van Dyke Ave, Washington, MI 48094
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Turnkey Office/Medical/Retail Space Available

      Turnkey office, medical, or retail space for rent.
      6003 26 Mile Rd, Washington, MI 48094
      View Details
    • $32,908

      Washington Township Commercial Space Available

      Commercial spaces available in renovated Washington Plaza, completion September 2025.
      58531-58625 Van Dyke Ave, Washington, MI 48094
      View Details
    • $30 SF/Yr

      Retail Strip with Restaurant Space

      Proposed retail strip with restaurant and outdoor seating available.
      57750 Van Dyke Ave, Washington, MI 48094
      View Details
    • $7 SF/Yr

      Corner Lot with Heavy Power

      Commercial property with heavy power and potential for expansion.
      61166 Van Dyke Rd, Washington, MI 48094
      View Details
    • Contact for pricing

      Retail Space in Washington Township

      Retail spaces available for lease in Washington Township, Michigan.
      58531-58625 Van Dyke Ave, Washington, MI 48094
      View Details
    View Listing
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    Washington, MI 48084
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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.

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