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    8344 Hall Rd Utica, MI 48317
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    Property profile & analytics

    8344 Hall Rd, Utica, MI 48317

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    • Commercial real estate
    • 15,000 SF
    • 1.25 lot acres
    Off-Market
    Property ID
    US43-2659961
    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

    • Commercial real estate

    Property Details for 8344 Hall Rd

    Year built
    1994
    Lot size
    1.25 lot acres
    Property type
    Commercial real estate

    Description

    This single-story, 15,000 square foot Class C office building, located at 8344 Hall Road in Utica, Michigan (Macomb County), offers an immediate opportunity for a business seeking executive office space. The building, constructed in 1994, sits on a 1.25-acre lot and features 50 parking spaces. Currently, 514 square feet of vacant space is available for lease, with a minimum divisible space of 514 square feet. The suite boasts a 10-foot ceiling height and is conveniently located east of Van Dyke. The property is zoned for office use and includes an elevator. Utilities include 110-volt power. The building is well-maintained and features a responsive on-site owner. This space is perfect for a small business or professional needing a convenient and functional office location. The property is available after February 1, 2025. The APN is 11-10-03-101-070. Interested parties should inquire for further details.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Macomb
    State
    Michigan
    Longitude
    -83.02820873
    Latitude
    42.62553536

    Comparable in this City

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      3,878 SF

      Hall Road Professional Office Space

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      Shelby Township Office Space Available

      Office space available in Shelby Township with monument signage.
      6300 22 Mile Rd, Shelby Township, MI 48317
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    • $1,200 /Mo
      752 SF

      Office Space in Utica

      Well-maintained office space with private offices and break room.
      8344 Hall Rd, Utica, MI 48317
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      340 SF

      Move-In Ready Executive Office Suites

      Executive office suites available for lease with common conference room.
      4454-4490 22 Mile Rd, Shelby Township, MI 48317
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      Move-In Ready Executive Office Suites

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      Commercial Property on Cass Avenue

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      Mound Road Commercial Building

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      Van Dyke Retail/Office Space

      Retail/Office space on Van Dyke, south of 23 Mile Road.
      49550 Van Dyke Ave, Shelby Township, MI 48317
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      17,086 SF

      Mound Road Commercial Building

      17,086 SF building on 4.8 acres with development potential.
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      Mound Road Commercial Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      3,878 SF

      Hall Road Professional Office Space

      Professional office space with easy access to M-53.
      11255 Hall Rd, Utica, MI 48317
      View Details
    • Contact for pricing
      12,023 SF

      Shelby Township Office Space Available

      Office space available in Shelby Township with monument signage.
      6300 22 Mile Rd, Shelby Township, MI 48317
      View Details
    • $1,200 /Mo
      752 SF

      Office Space in Utica

      Well-maintained office space with private offices and break room.
      8344 Hall Rd, Utica, MI 48317
      View Details
    • Contact for pricing
      340 SF

      Move-In Ready Executive Office Suites

      Executive office suites available for lease with common conference room.
      4454-4490 22 Mile Rd, Shelby Township, MI 48317
      View Details
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    Utica, MI 48317
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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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