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Property profile & analytics
OFF-MARKET
Estimated value
$2,675,000
Commercial real estate
59010 Gratiot Ave, New Haven, MI 48048-2073
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1460361
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2009
Total area
15,042 SF
Lot
2.08 ac (90,779 SF)
Zoning code
GB
APN
26-06-27-300-023
UPID
US43-1460361
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.55M
Blend (final)
Blend
$2.68M
Owner & transaction history
Extra Credit Union INC
Extra Credit Union INC
since 2025
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
GB · New Haven, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+37.9%
Medical building
$1.8M
+19.5%
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 New Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Haven 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
RESTAURANT
$2,130,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$1,845,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$2.68M
Range $2.41M – $2.94M · ±10% · vs last sale $2.80M (Jun 24 2025)
Last sale anchor
$2.80M
Jun 24 2025
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
$178 / 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
$43,269
Tax year 2022
Assessed value
$1,074,100
Assessed 2023
Previous assessed
$1,110,300
-3.3% YoY
Effective rate
4.03%
On assessed value
Total market value
$2,148,200
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2009
Heating
FORCED AIR
Stories
1
Total area
15,042 SF
Lot
2.08 ac (90,779 SF)
Zoning code
GB
APN
26-06-27-300-023
UPID
US43-1460361
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
GB · New Haven, MI
Zoning GB · permitted uses
GB · New Haven, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.8M
RESTAURANT
MEDICAL BUILDING
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
2009
Heating
FORCED AIR
Stories
1
Lot
2.08 ac
Current owner
From public records · entity-resolved
Extra Credit Union INC
Entity
Free & Clear · 0 yrs held
Mailing address
7 FLEET ST APT #206, MARINA DEL REY, CA 90292-5731
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2025
$2,800,000
Extra Credit Union INC
Dalon Akkari Real Estate LLC
Warranty Deed
—
Apr 11, 2025
—
Dalon Akkari Real Estate LLC
Grant Fraser Michigan LLC
Warranty Deed
—
Jan 5, 2021
—
Grant Fraser Michigan LLC
—
Deed
related
$1,900,000 · University Cu
Mar 30, 2017
—
Grant Fraser Michigan LLC
—
Deed
related
$2,000,000 · The State Bank
Jun 1, 2010
$3,810,000
Grant Fraser Mi LLC
Gratiot 27 Investments LLC
Grant Deed
$2,140,000 · Borrego Springs Bank
Jan 12, 2009
—
Grant Fraser Michigan LLC
Gratiot 27 Investments LLC
Grant Deed
—
Dec 11, 2008
—
Gratiot 27 Investments LLC
27 & Gratiot LLC
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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