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    Property profile & analytics

    Harper Ave Clinton Township, MI 48035

    • Office buildings
    • 5,700 SF
    • 0.79 lot acres
    For Sale
    View listing
    $93,500
    Last Sale
    Mar 21, 2022
    $820,000
    Value Estimations
    Cap Rate Potential
    2.5%
    Office buildings
    Location Intelligence
    Property ID
    US43-1724740
    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.

    Current Use by Public Records

    • Office buildings

    Property Details for Harper Ave

    Year built
    1998
    Lot size
    0.79 lot acres
    Property size
    5,700 SF
    Zone code
    OS-1
    Property type
    Office buildings
    APN
    16-11-26-279-012
    APU
    161126279012

    Description

    This single-tenant, 5,700-square-foot medical office building is situated on a 0.788-acre lot at 36175 Harper Ave, Clinton Township, MI 48035. Built in 1998, the Class C property features one story and offers 32 parking spaces. Currently configured for a single user, the building is adaptable and ownership is open to splitting the space. The property boasts convenient access to Metro Parkway and I-94, enhancing its accessibility. The building is zoned OS-1 and has a Macomb County APN of 16-11-26-279-012. The lease is a modified gross lease, with tenants responsible for landscaping and snow removal. The entire 5,700 square feet is currently vacant, presenting a unique opportunity for a medical practice or other suitable business. This freestanding building offers significant potential for a variety of uses within the medical field or other compatible businesses. Its location provides excellent visibility and convenient access to major transportation routes. The ample parking ensures convenient access for patients and staff. This property represents a compelling investment opportunity in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $759,000
      Market price range: $355k - $759k
      AI Estimate
      $759,000
      Market price range: $355k - $759k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $540,000
      Current use
      RESTAURANT
      $810,000
      Change: +50% Conversion: Moderate
      MEDICAL BUILDING
      $700,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $595,000
      Change: +10% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $585,000
      Change: +8% Conversion: Easy
      AUTO REPAIR, GARAGE
      $490,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Clinton Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8713
    Latitude
    42.564
    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
    $16,800
    $0.00
    $0.00
    $366,100
    -
    $0.00
    $0.00
    $732,200

    Comparable in this City

    • Value Estimation by Request
      1,152 SF

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      33709 Gratiot Ave

      OFFICE BUILDING • 2,070 SF
      33709 Gratiot Ave, Clinton Township, MI 48035-4044
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    • Value Estimation by Request
      2,610 SF

      36001 Harper Ave

      OFFICE BUILDING • 2,610 SF
      36001 Harper Ave, Clinton Township, MI 48035-2954
      View Details
    • Value Estimation
      $775,000
      5,808 SF

      33478 Harper Ave

      OFFICE BUILDING • 5,808 SF
      33478 Harper Ave, Clinton Township, MI 48035-4213
      View Details
    • Value Estimation by Request
      2,075 SF

      22070 Nunneley Rd

      OFFICE BUILDING • 2,075 SF
      22070 Nunneley Rd, Clinton Township, MI 48035-1756
      View Details
    • Value Estimation by Request
      1,760 SF

      34470 Gratiot Ave

      OFFICE BUILDING • 1,760 SF
      34470 Gratiot Ave, Clinton Township, MI 48035-3539
      View Details

    Similar Nearby for Sale

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      Clinton Township Office/Retail Building

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      22,300 SF

      Neurological Building Near I-94 Access

      Full-service medical building with suites available, near I-94.
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      Groesbeck Hwy Storefront - Clinton Twp

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      Clinton Township Vacant Land

      0.826 acres of vacant land in Clinton Township, Michigan.
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    Similar Nearby for Lease

    • $1,500 /Mo
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      Clinton Township Office For Rent

      Standalone office building in Clinton Township, Michigan, with great exposure.
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    • $1,750 /Mo

      Flex Space with Office Component

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    • $550 /Mo

      Professionally Managed Office Building For Rent

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    • $550 /Mo
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      Clinton Township Office Space Available

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    • Contact for pricing

      Office Space For Rent

      Office space available for lease in Clinton Township, Michigan.
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    Harper Ave
    Clinton Township, MI 48035
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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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