Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    37630- Michigan Ave Wayne, MI 48184

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    7.03 AC commercial land across from Ford Assembly Plant.

    Property size:
    190,831 SF
    Lot size:
    190.00 Acres

    Property Features for 37630- Michigan Ave

    General Information

    Size
    190,831 SF
    Lot size
    190.00 Acres

    Building Details

    Year built
    2009

    We can help!

    Listing Contact
    Brandon Ben-Ezra
    Source: Naiglobal

    Listing Agent: Brandon Ben-Ezra

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Wayne, MI Commercial Land

    This 7.03-acre commercial land is located on Michigan Avenue in Wayne, MI, directly across the street from the Ford Assembly Plant. The dimensions of the property are approximately 468 feet by 648 feet. The Ford Motor Stamping & Assembly Plant employs more than 3,000 people. The property benefits from high visibility and accessibility on Michigan Avenue, which experiences over 62,000 vehicles per day. It is located approximately 2 miles from I-275. The zoning is B-2 Business Extensive. The site was formerly a Jack Cooper Trucking location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4092313
    Latitude
    42.2800076

    Nearby Similar for Sale

    • New
      $525,000
      6,240 SF

      Turnkey Office Building on Wayne

      Updated 6,240 SF office building ready for immediate occupancy.
      4621 S Wayne Rd, Wayne, MI 48184
      View Details
    • New
      $99,900
      2,100 SF

      Established Repair Shop Business Opportunity

      Well-established repair shop and retail business for sale in Wayne.
      3123 S Wayne Rd, Wayne, MI 48184
      View Details
    • $2,100,000
      5,618 SF

      Turn-Key Event Venue in Wayne

      Premier commercial property suitable for various events and business opportunities.
      35000 Sims St, Wayne, MI 48184
      View Details
    • $625,000
      10,688 SF

      Downtown Wayne Commercial Building For Sale

      Two-story commercial building with ample parking in downtown Wayne, Michigan.
      35540 W Michigan Ave, Wayne, MI 48184
      View Details
    • $199,900
      Pending

      Remodeled Commercial Building on Wayne Road

      Turnkey commercial property with updated features and high-exposure location.
      3144 S Wayne Rd, Wayne, MI 48184
      View Details
    • $250,000
      2,880 SF

      Wayne, MI Commercial Property

      Office building in Wayne, Michigan, totaling 2,880 square feet.
      5455 S Wayne Rd, Wayne, MI 48184
      View Details
    • $3,000,000
      16,000 SF

      Wayne Multifamily Property For Sale

      Multifamily property in Wayne, MI, refurbished in 2018.
      25911 W Michigan Ave, Wayne, MI 48184
      View Details
    • $500,000
      4,128 SF

      Wayne Commercial Property on Michigan Avenue

      Prime commercial real estate in Wayne's DDA district for sale.
      34233 Michigan Ave, Wayne, MI 48184
      View Details
    • $155,000
      1,792 SF

      Downtown Wayne Commercial Building For Sale

      Two-story, 1,792 SF building with development potential in downtown Wayne.
      34905 E Michigan Ave, Wayne, MI 48184
      View Details
    • $1,200,000
      4,867 SF

      Established Auto Repair Business For Sale

      Well-equipped auto repair shop with prime location and established clientele.
      3041 S Wayne Rd, Wayne, MI 48184
      View Details
    • $184,900
      Pending

      Income-Producing Duplex with Updates

      Updated duplex in Wayne, MI, ideal for investors/owner-occupants.
      35743 E Michigan Ave, Wayne, MI 48184
      View Details
    • New
      $139,900
      0.11 Acres

      Wayne Duplex with Expansion Potential

      Duplex in Wayne with expansion possibilities, priced below market.
      Wayne, MI 48184
      View Details

    FAQs

    What type of property is this?
    Land - 7.03 AC commercial land across from Ford Assembly Plant.
    Where is this land located?
    The property is located at 37630- Michigan Ave Wayne, MI.
    What are key features of this property?
    This property features: - Located directly across the street from the Ford Motor Stamping & Assembly Plant.; - High traffic visibility on Michigan Avenue (over 62,000 VPD).; - 7.03 AC lot size.
    (248) 732-9220
    Request Owner's contact information
    37630- Michigan Ave Wayne, MI 48184
    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.
    37630- Michigan Ave
    Wayne, MI 48184
    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
    37630- Michigan Ave Wayne, MI 48184
    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

    We can help!
    Listing Contact
    Brandon Ben-Ezra
    (248) 732-9220
    Learn more
    Google sign-in failed. Please try again or use another login method.