Add Listing
    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

    40500 Michigan Ave Canton, MI 48188

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Profitable 83-unit hospitality property in a sought-after location.

    Property size:
    27,686 SF
    Lot size:
    2.04 Acres

    Property Features for 40500 Michigan Ave

    General Information

    Standard status
    Active
    Zoning
    C-4 General Comm.
    Size
    27,686 SF
    Lot size
    2.04 Acres

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    Silvestre Madrigal Jr.
    Silvestre Madrigal Jr.
    Source: Crexi

    Listing Agency: Century 21 Allstars Listing Agent: Silvestre Madrigal Jr.

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

    Learn more

    Overview

    Travelodge Canton/Livonia Area Investment

    The Travelodge by Wyndham Canton/Livonia Area, situated at 40500 Michigan Ave, Canton MI 48188, presents a commercial real estate investment opportunity. This property features 83 units within a 27,686 square foot building, set on a 2.04-acre lot. Constructed in 1988 and renovated in 2012, the Travelodge is located in an area with a reported median household income of $71,051 within a 1-mile radius in 2024. The property is zoned C-4 General Comm. and offers parking at a ratio of 1.08 spaces per room. This hospitality business is positioned to provide accommodations for guests and a return on investment for the owner.
    Location Intelligence

    Current Use by Public Records

    Econo Lodge Hotel & Motel Pinnacle Windows and Doors Hardware & Home Improvement Travelodge by Wyndham ... Hotel & Motel

    Suggested Use

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

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

    Similar Places Nearby

    Econo Lodge, Super 8 by Wyndham Canton/Livonia Area, Canton Inn And Suites, Travelodge by Wyndham Canton/Livonia Area, MI, Music Set Go, LLC

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4385042
    Latitude
    42.2808816

    Nearby Similar for Sale

    • $540,000
      2,356 SF

      Canton Farmhouse with Large Pole Barn

      Farmhouse on 2.35 acres with a 32'x100' pole barn.
      49035 Geddes Rd, Canton, MI 48188
      View Details
    • $1,500,000
      5.72 Acres

      Canton Land with Approved Plans

      Land with approved plans for warehouse and truck parking.
      4891 S Sheldon Rd, Canton, MI 48188
      View Details
    • $2,100,000
      Pending

      Turnkey Restaurant Opportunity in Canton

      Freestanding restaurant in high-traffic area near I-275.
      41275 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing

      Retail Space on Michigan Avenue

      End-cap retail space with high visibility and ample parking.
      46540 Michigan Ave, Canton, MI 48188
      View Details
    • $3,650,000

      Michigan Avenue Commercial Building For Sale

      17,474 sq ft building on 6.5 acres in Canton.
      43335 Michigan Ave, Canton, MI 48188
      View Details
    • $1,600,000

      Canton Warehouse/Industrial Opportunity

      7,200 SF building on 1.88 acres in Canton, Michigan.
      4801 Dewitt Rd, Canton, MI 48188
      View Details
    • Contact for pricing

      Canton Retail Center For Sale

      Dominant neighborhood shopping center in Canton retail area.
      5804-6034 N Sheldon Rd, Canton, MI 48187
      View Details
    • Contact for pricing

      Retail Space in New Towne Plaza

      Retail space in Canton's regional retail corridor on Ford Road.
      44412 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      5,000 SF

      Turnkey Grocery and Produce Market

      Grocery and produce market in high-traffic Canton location.
      7329 N Lilley Rd, Canton, MI 48187
      View Details
    • $400,000
      20,711 SF

      Canton Industrial Property - Turnkey Auto Business

      Thriving Auto Repair Shop - Excellent Location
      42601 Joy Rd, Canton, MI 48187
      View Details
    • Contact for pricing

      Retail Space on Ford Road

      Retail property on a prominent commercial corridor with high traffic.
      42400 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      1,056 SF

      Royal Holiday Manufactured Homes

      Affordable Canton Community, near Detroit & Ann Arbor
      39500 W Warren Rd, Canton, MI 48187
      View Details

    FAQs

    What type of property is this?
    Motel - Profitable 83-unit hospitality property in a sought-after location.
    Where is this motel located?
    The property is located at 40500 Michigan Ave Canton, MI.
    What are key features of this property?
    This property features: - Lucrative investment opportunity: 83 units in a well-maintained Travelodge by Wyndham.; - Attractive price at $3,799,999 ($137.25 PSF).; - Strong demographics: 2024 median household income of $71,051 within 1 mile.
    Request Owner's contact information
    40500 Michigan Ave Canton, MI 48188
    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.
    40500 Michigan Ave
    Canton, MI 48188
    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
    40500 Michigan Ave Canton, MI 48188
    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
    Silvestre Madrigal Jr.
    Silvestre Madrigal Jr.
    Real Estate License ID: 01363650
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!