no locationno location Greg Hornby - Farmington Hills, MI Commercial Real Estate Agent & Broker | Realmo
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    Greg Hornby, Farmington Hills, MI

    License ID: 6501313839

    Service Locations

    Contact details

    Phone:
    (248) 324-2000
    Office Address:
    440 Us Hwy 59 Loop S, Livingston, TX

    Performance

    Listings
    23

    Listings

    For Sale (9)

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      1,560 SF

      Lincoln Park Commercial Space

      Commercial space available for sale in Lincoln Park, Michigan.
      3723 Fort St, Lincoln Park, MI 48146
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      Land For Sale

      Land available for sale.
      14500 King Rd, Riverview, MI 48193
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      2,088 SF

      Grosse Ile Retail Opportunity

      Retail space available for sale in Grosse Ile Township.
      8200 Macomb St, Grosse Ile, MI 48138
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      Land For Sale

      Land available for sale.
      Eureka & Allen, Taylor, MI 48180
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      14,589 SF

      Pontiac Commercial Property for Sale

      Commercial property in Pontiac, Michigan, available for purchase.
      34 Rapid St, Pontiac, MI 48341
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      3.26 Acres Vacant Land

      Vacant land available on Telegraph Road, Brownstown, MI.
      3.26 Acres Vacant Land On Telegraph Rd, Brownstown, MI 48183
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      Flat Rock Land For Sale

      3.64 acres of land available in Flat Rock.
      26316 Telegraph Rd, Flat Rock, MI 48134
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      1,731 SF

      Commercial Property For Sale/Lease

      Commercial property available for sale or lease.
      18555 Fort St, Riverview, MI 48193
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      8,173 SF

      Trenton Office Building For Sale

      Office building with 8,173 square feet of space available.
      2272 W Jefferson Ave, Trenton, MI 48183
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    For Lease (14)

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      Retail Space Available For Lease

      Retail space for lease at 320 Eureka Ave, Wyandotte.
      320 Eureka Ave, Wyandotte, MI 48192
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      Office Space Available For Lease

      Office property available for lease in Ypsilanti, Michigan.
      200 Arnet St, Ypsilanti, MI 48198
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      Industrial Single Tenant Opportunity

      Industrial property suitable for a single tenant on 2 acres.
      1 W Jefferson Ave, Trenton, MI 48183
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      Commercial Property For Sale/Lease

      Commercial property available for sale or lease.
      18555 Fort St, Riverview, MI 48193
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      Office Space Available for Rent

      Office space available, offering 10,953 SqFt in Woodhaven, MI.
      22601 Allen Rd, Woodhaven, MI 48183
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      Retail/Restaurant Space For Lease

      Retail and restaurant spaces available for lease.
      2651 W Jefferson Ave, Trenton, MI 48183
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      Southgate Office Space Available

      Office space available in Southgate, Michigan.
      13235-13245 Northline Rd, Southgate, MI 48195
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      Commercial Property for Lease

      Commercial property available for lease in Wyandotte, Michigan.
      1479 Fort St, Wyandotte, MI 48192
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      Office Space Available for Rent

      Office spaces available, ranging from 1,145 to 2,370 SqFt.
      22673 Allen Rd, Woodhaven, MI 48183
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      Commercial Space for Lease

      Commercial space available for lease in Lincoln Park, Michigan.
      3723 Fort St, Lincoln Park, MI 48146
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      Office Space for Lease

      Office space available for lease in Brownstown Charter Township.
      19200 Allen Rd, Trenton, MI 48183
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      Office Space Available For Lease

      Office property available for lease in Southgate, Michigan.
      13305 Reeck Rd, Southgate, MI 48195
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      10,953 SF

      Office Building in Business District

      10,953 SF office building in a busy district.
      22601 Allen Rd, Woodhaven, MI
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      2,000 SF

      Professional Office Building Suites Available

      Well-maintained office building with suites available for lease.
      13305 Reeck Rd, Southgate, MI 48195
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    Leases and Sales on Map

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    Greg Hornby, Farmington Hills, MI
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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.

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