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    The Largest CRE Database in the US with Over 1 Million Listings

    Nick Jaafar, Belleville, MI

    License ID: 6501403947
    Keller Williams Legacy
    Years of Experience
    3

    Service Locations

    Contact details

    Phone:
    (313) 752-0000

    Performance

    Listings
    20
    Total transactions
    249
    Total transactions amount
    $76M
    Price range
    $21k - 3M
    Average price
    $305k

    Listings

    For Sale (7)

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    • $700,000
      5,800 SF

      Belleville Medical Facility - $700K

      5,800 SF Medical Building, Prime Location
      435 Sumpter Rd, Belleville, MI 48111
      View Details
    • $59,900
      800 SF

      Dearborn Industrial Property - High Traffic Area

      Profitable Business, 800 sq ft, Inventory Included
      7219 Maple St, Dearborn, MI 48126
      View Details
    • $199,900

      Corner Lot on Michigan Avenue

      Corner lot with high traffic count and endless potential.
      43415 Michigan Ave, Canton, MI 48188
      View Details
    • $224,000

      Commercial Land on King Road

      Vacant commercial land available for sale on King Road.
      0000 King Rd, Riverview, MI 48193
      View Details
    • $130,000

      Profitable Smoke Shop Business Opportunity

      Established smoke shop with inventory, online store, and lottery.
      18512 Outer Dr W, Dearborn, MI 48128
      View Details
    • $425,000

      Commercial Land for Sale

      Commercial land available for purchase.
      26905 Plymouth Rd, Redford, MI 48239
      View Details
    • $235,000

      Industrial Land in Novi

      1.3 acres of industrial land on Grand River Avenue.
      44911 Grand River Ave, Novi, MI 48375
      View Details

    For Lease (13)

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    • $9 SF/Yr
      3,750 SF

      Fort Street Warehouse - Prime Location

      Spacious Warehouse, High Visibility, Ample Parking
      2070 Fort St, Lincoln Park, MI 48146
      View Details
    • $1,999 /Mo

      Retail Space with Open Layout

      Versatile retail space with great visibility and natural light.
      25420 Grand River Ave, Redford, MI 48240
      View Details
    • $4,000 /Mo

      Acre and Half Land Lease

      Acre and a half of land available for lease.
      14321 W Warren Ave, Dearborn, MI 48126
      View Details
    • $1,500 /Mo

      Car Lot For Lease

      Car lot for lease near ADESA Auto Auction.
      6120 N Dort Hwy, Flint, MI 48505
      View Details
    • $3,500 /Mo

      Turnkey Medical Space Available

      Turnkey medical space with high traffic and excellent visibility.
      13403 W 7 Mile Rd, Detroit, MI 48235
      View Details
    • $399 /Mo

      Freestanding Office Building For Lease

      Office building with high visibility and ample parking available for lease.
      34841 Veterans Plz, Wayne, MI 48184
      View Details
    • $4,241 /Mo

      Renovated Retail Space Available

      Prime commercial space with high visibility and ample parking.
      16775 E 13 Mile Rd, Fraser, MI 48026
      View Details
    • $2,535 /Mo

      Renovated Retail Space Available

      Prime commercial space with high visibility and ample parking.
      16773 E 13 Mile Rd, Fraser, MI 48026
      View Details
    • $4,500 /Mo

      Mechanic Shop Prime Corner Location

      Three-bay mechanic shop on a half-acre corner lot.
      2617 Middlebelt Rd, Inkster, MI 48141
      View Details
    • $3,500 /Mo

      Turnkey Medical Suite in Dearborn

      Modern medical suite with five plumbed exam rooms available for rent.
      22720 Michigan Ave, Dearborn, MI 48124
      View Details
    • $1,300 /Mo

      Updated Warehouse with Retail Potential

      Pristine 1,300 sqft warehouse suitable for storage or retail.
      20823 Joy Rd, Detroit, MI 48228
      View Details
    • $3,000 /Mo

      Allen Park Auto Repair Center

      1,350 sq ft auto repair center for lease.
      4505 Allen Rd, Allen Park, MI 48101
      View Details
    • $4,229 /Mo

      East Dearborn Retail Space Available

      Retail space available in East Dearborn's newest development.
      13730 Michigan Ave, Dearborn, MI 48126
      View Details

    Leases and Sales on Map

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    Nick Jaafar, Belleville, 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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    Nick Jaafar, Belleville, MI
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