Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    21603 Mound Rd Warren, MI 48091-4843

    • Grocery and convenience stores
    • 3,000 SF
    • 0.83 lot acres
    OFF-MARKET
    Last Sale
    Feb 20, 2024
    $250,000
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1720628
    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

    • WALLYS HOT CHICKEN / Restaurant
    • Chester Fried / Restaurant

    Property Details for 21603 Mound Rd

    Year built
    1960
    Lot size
    0.83 lot acres
    Property size
    3,000 SF
    Zone code
    M-2
    Property type
    Grocery and convenience stores
    APN
    12-13-32-428-101
    APU
    121332428101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $250,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0452
    Latitude
    42.455
    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
    $10,059
    $0.00
    $0.00
    $154,650
    -
    $0.00
    $0.00
    $309,300

    Comparable in this City

    • Value Estimation by Request
      1,228 SF

      1940 9th Mile Rd

      GROCERY, SUPERMARKET • 1,228 SF
      1940 9th Mile Rd, Warren, MI 48091-2109
      View Details
    • Value Estimation by Request
      3,034 SF

      7512 9th Mile Rd

      GROCERY, SUPERMARKET • 3,034 SF
      7512 9th Mile Rd, Warren, MI 48091-2643
      View Details
    • Value Estimation by Request
      1,421 SF

      22600 Dequindre Rd

      GROCERY, SUPERMARKET • 1,421 SF
      22600 Dequindre Rd, Warren, MI 48091-2187
      View Details
    • Value Estimation by Request
      4,608 SF

      24940 Mound Rd

      GROCERY, SUPERMARKET • 4,608 SF
      24940 Mound Rd, Warren, MI 48091-5336
      View Details
    • Value Estimation by Request
      3,280 SF

      5801 10th Mile Rd

      GROCERY, SUPERMARKET • 3,280 SF
      5801 10th Mile Rd, Warren, MI 48091-1592
      View Details
    • Value Estimation by Request
      1,653 SF

      5830 10th Mile Rd

      GROCERY, SUPERMARKET • 1,653 SF
      5830 10th Mile Rd, Warren, MI 48091-1591
      View Details

    Similar Nearby for Sale

    • $599,999
      3,034 SF

      Established Storefront Business and Real Estate

      High-volume store in Warren, MI with SBA approval.
      0125 Undisclosed, Warren, MI 48091
      View Details
    • $775,000
      Pending

      Profitable Gas Station Opportunity, Warren

      Established Citgo gas station with convenience store in high-traffic location.
      22600 Dequindre Rd, Warren, MI 48091
      View Details
    • $84,900

      Retail Opportunity on Mound Road

      Retail property with growth potential for entrepreneurs or experienced owners.
      20787 Mound Rd, Warren, MI 48091
      View Details
    • $345,000
      5,600 SF

      Retail Building on 8 Mile

      5,600 SF retail building with ample parking.
      7531 East 8 Mile Rd, Warren, MI 48091
      View Details
    • $1,499,000
      3,800 SF

      Turn-Key Dispensary on Large Lot

      Fully licensed dispensary with drive-thru and ample parking for sale.
      5540 E Eight Mile Rd E, Detroit, MI 48091
      View Details
    • $450,000
      3,358 SF

      Warren Auto Repair Center

      Turnkey Auto Shop, 3,358 SF, $450K
      7575 Eight Mile Rd, Warren, MI 48091
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      25,596 SF

      7 Star Plaza: Warren Office Space

      Prime Warren Office, High Visibility, 3,900 SF Available
      7580 Nine Mile Rd, Warren, MI 48091
      View Details
    • Contact for pricing

      Warren Commercial Property For Rent

      Commercial property available for rent in Warren, Michigan.
      2071 8 Mile Rd, Warren, MI 48091
      View Details
    • $1,400 /Mo
      1,000 SF

      Entry-Level Ranch Condo For Rent

      Ranch condo with garage, patio, and central air conditioning.
      24002 Wedgewood Cir, Warren, MI 48091
      View Details
    • Contact for pricing
      6,365 SF

      Warren Medical Office Building

      6,365 SF, 6,000 SF Vacant
      21635 Ryan Rd, Warren, MI 48091
      View Details
    • $11 SF/Yr
      15,000 SF

      Macomb County Warehouse For Lease

      15,000 SF Warehouse, Excellent Location
      24660 Dequindre Rd, Warren, MI 48091
      View Details
    • Contact for pricing
      1,430,125 SF

      Mound Road Warehouse Space Available

      Class A warehouse space; flexible layouts.
      23500 Mound Rd, Warren, MI 48091
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    21603 Mound Rd
    Warren, MI 48091-4843
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.