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    Jay R. Chavey, Southfield, MI

    License ID: 6502112581
    Signature Associates
    Years of Experience
    2
    Association
    Commercial Board Of Realtors Inc

    Service Locations

    Contact details

    Phone:
    (248) 948-4196
    Office Address:
    1 Towne Sq Ste 1200, Southfield, MI, 48076

    Performance

    Listings
    12
    Total transactions
    1
    Total transactions amount
    $611k
    Price range
    $407k - 917k
    Average price
    $611k

    Listings

    For Sale (7)

    View map
    • Contact for pricing

      Land For Sale

      Land available for sale.
      Baker Rd, Dexter, MI 48130
      View Details
    • Contact for pricing
      4,000 SF

      Redevelopment Site or Auto Shop

      1.1 acre site suitable for redevelopment or auto body shop.
      1251 N Main St, Ann Arbor, MI 48103
      View Details
    • $1,170,000

      Industrial Flex Building For Sale

      Industrial flex building suitable for manufacturing, warehousing, and R&D.
      1271 Industrial Dr, Saline, MI 48176
      View Details
    • $1,800,000

      Vacant Land For Sale

      Vacant land suitable for a shopping center or grocery store.
      Whittaker Rd, Augusta Twp, MI 48197
      View Details
    • $4,500,000

      Scio Township Development Opportunity

      15-acre assemblage near mixed-use development, zoned for future commercial use.
      Scio Twp, Dexter, MI 48130
      View Details
    • $2,675,000

      Ypsilanti Township Business Park Property

      Located in Washtenaw Business Park with I-M94 exposure.
      770 James L Hart Pkwy, Ypsilanti, MI 48197
      View Details
    • Contact for pricing
      103,548 SF

      Industrial Building with Expansion Potential

      Industrial building on 10.81 acres, expansion potential, executive parking.
      506 S Huron St, Ypsilanti, MI 48197
      View Details

    For Lease (5)

    View map
    • Contact for pricing

      Retail Space Available For Lease

      Retail space available for lease in Ann Arbor, Michigan.
      4801 Washtenaw Ave, Ann Arbor, MI 48108
      View Details
    • Contact for pricing

      Ann Arbor Warehouse/Flex Space

      Heated and air-conditioned warehouse/flex space with planned overhead door.
      1201 E Ellsworth Rd, Ann Arbor, MI 48108
      View Details
    • Contact for pricing

      Move-in Ready Office Space Available

      Up to 5,000 sq. ft. office space for lease.
      200 S 1St St, Ann Arbor, MI 48103
      View Details
    • Contact for pricing

      Versatile Flex Space Available

      Heated and air-conditioned flex space with existing wet lab.
      3930-3990 Varsity Dr, Ann Arbor, MI 48108
      View Details
    • Contact for pricing
      34,833 SF

      Ann Arbor Multi-Tenant Complex

      Multi-tenant complex in Research Park, Ann Arbor.
      3915 Research Park Dr, Ann Arbor, MI 48108
      View Details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

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    Jay R. Chavey, Southfield, 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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    Jay R. Chavey, Southfield, MI
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