Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    59010 Gratiot Ave New Haven, MI 48048-2073
    Back to Search
    Property profile & analytics

    59010 Gratiot Ave New Haven, MI 48048-2073

    View on Map
    • Commercial real estate
    • 15,042 SF
    • 2.08 lot acres
    Off-Market
    Last Sale Jun 24, 2025
    $2,800,000
    Property ID
    US43-1460361
    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
    $2,675,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 59010 Gratiot Ave

    Year built
    2009
    Lot size
    2.08 lot acres
    Property size
    15,042 SF
    Zone code
    GB
    Property type
    Commercial real estate
    APN
    26-06-27-300-023
    APU
    260627300023

    Description

    This 14,564-square-foot, single-story building, formerly a Rite Aid, sits on a 2.08-acre lot in New Haven, Michigan. Built in 2009, the property features high-image brick construction and a drive-thru. Located at a signalized intersection of Gratiot Avenue and 27 Mile Road, it offers excellent visibility and accessibility. The General Business zoned lot benefits from its prominent hard-corner location and proximity to I-94 (approximately 2 miles from the 26 Mile Road exit). The vacant building presents significant re-tenanting and redevelopment potential, situated in a rapidly growing area of northern Macomb County with numerous nearby housing developments. The asking price is $1,800,000, translating to $123.59 per square foot. The property includes pylon signage on both roads and convenient ingress/egress from both Gratiot Avenue and 27 Mile Road. This value-add investment opportunity is ideal for those seeking a prime retail location in a thriving suburban market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,545,000
      Market price range: $836k - $2.55M
      AI Estimate
      $2,545,000
      Market price range: $836k - $2.55M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,130,000
      MEDICAL BUILDING
      $1,845,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    Macomb
    State
    Michigan
    Longitude
    -82.7834
    Latitude
    42.7351
    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
    $43,269
    $0.00
    $0.00
    $1,074,100
    -
    $0.00
    $0.00
    $2,148,200

    Comparable in this City

    • 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
    • Value Estimation by Request
      8.56 Acres

      26 Mile & New Hvn Rd

      Land • 8.56 Acres
      0 26 Mile & New Hvn Rd, New Baltimore, MI 48048
      View Details
    • Value Estimation
      $615,000
      1,785 SF

      57280 Gratiot Ave

      COMMERCIAL (GENERAL) • 1,785 SF
      57280 Gratiot Ave, New Haven, MI 48048-2616
      View Details
    • Value Estimation
      $2,765,000
      3,927 SF

      33130 27th Mile Rd

      COMMERCIAL (GENERAL) • 3,927 SF
      33130 27th Mile Rd, Lenox, MI 48048
      View Details
    • Value Estimation by Request
      20.00 Acres

      34625 26th Mile Rd

      COMMERCIAL (GENERAL) • 20.00 Acres
      34625 26th Mile Rd, Lenox, MI 48048-3000
      View Details
    • Value Estimation
      $4,220,000
      5,990 SF

      57065 Gratiot Ave

      COMMERCIAL (GENERAL) • 5,990 SF
      57065 Gratiot Ave, New Haven, MI 48048-2683
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,808 SF

      Industrial Property with Drive-Thru Access

      Industrial property featuring drive-thru capabilities and ample outside storage.
      59230 Haven Ridge Rd, New Haven, MI 48048
      View Details
    • Contact for pricing

      Versatile Land Near Interstate-94

      Agricultural land with potential for rezoning near major retailers.
      28937 26 Mile Rd, New Haven, MI 48048
      View Details
    • $899,998
      35.34 Acres

      35-Acre Industrial Land Parcel

      Prime industrial land with railway access in New Haven, MI.
      Haven Ridge Rd, New Haven, MI 48048
      View Details
    • $649,000
      10.00 Acres

      Industrial Land with Renovated House

      Industrial development opportunity with renovated house on 10 acres.
      57291 Rosell Rd, New Haven, MI 48048
      View Details
    • Contact for pricing

      Gratiot Avenue Development Opportunity

      Commercial land with frontage in a growing Macomb County area.
      58143 Gratiot Ave, New Haven, MI 48048
      View Details

    Similar Nearby for Lease

    • 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
      View Details
    • Contact for pricing
      2,016 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

      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

      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
    • Contact for pricing

      Corewell Health Outpatient Care Center

      Medical office spaces in a newly developed, amenity-rich medical campus.
      36555 26 Mile Rd, Lenox, MI 48048
      View Details
    • $11 SF/Yr

      Office/Hi-Tech Space For Lease

      Office and hi-tech space available for lease with flexible options.
      31029 Comcast Dr, New Haven, MI 48048
      View Details
    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.
    59010 Gratiot Ave
    New Haven, MI 48048-2073
    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

    Thank You for Inquiry
    59010 Gratiot Ave, New Haven, MI, 48048
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!