35478 Groesbeck HwyClinton Township, MI 48035

Property Details for 35478 Groesbeck Hwy

Year built

1985

Lot size

2.06 AC

Property size (Sq ft)

23,600 SF

Zone code

I-1

Property type

Commercial real estate

APN

16-11-28-451-016

APU

161128451016

Description

This single-story, 23,297 square foot shopping center, located at 35478-35520 Groesbeck Hwy in Macomb County, offers multiple retail and office spaces for lease. Built in 1985 and renovated in 2001, the Class C property sits on a 2.06-acre lot (APN: 16-11-28-451-016) and boasts excellent traffic counts due to its prime location at the intersection of Groesbeck Hwy and 15 Mile Road. The center features 15 suites, with a total of 7,700 square feet currently vacant. Available spaces range from a minimum of 1,000 square feet to a maximum contiguous space of 3,700 square feet. The property includes ample parking with 55+ spaces. The zoning is B3. This is an exceptional opportunity for businesses seeking high visibility and a motivated landlord offering aggressive rates. Join a diverse mix of existing tenants in this well-located center. No elevators are present.

• CAP approach

  CAP return

  Valuation

  6%

  $5,562,920

  6.5%

  $5,135,000

  7%

  $4,768,210

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,207,540

  Geo Method

  $2,207,540

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,679,270

  Retail / Commercial

  $5,047,730

  Mixed-Use / Specialty

  $5,096,130

  Hospitality / Lodging

  $3,825,300

  Office

  $5,135,000

  Institutional / Educational

  $5,321,640

  Residential Income

  $6,226,320

  Multifamily

  $7,099,460

  Automotive / Energy

  $4,561,410

  Parking / Income-Based Land

  $1,508,490

  Restaurant / Food Service

  $2,792,220

  Healthcare / Senior Housing

  $5,157,900

Location Insight

City

Clinton Township

County

Macomb

State

Michigan

Latitude

42.5577

Longitude

-82.9202

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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