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

    1815 N Main St Royal Oak, MI 48073

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $650,000

    Retail property available for sale in Royal Oak, Michigan.

    Property size:
    4,500 SF
    Lot size:
    0.29 Acres

    Property Features for 1815 N Main St

    General Information

    Size
    4,500 SF
    Lot size
    0.29 Acres

    We can help!

    Listing Contact
    Rachele Downs
    Source: Moodyscre

    Listing Agent: Rachele Downs

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

    Learn more

    Overview

    Retail Property in Royal Oak

    This retail property, located at 1815 N Main St in Royal Oak, Michigan, offers 4,500 square feet of space. The property is suitable for retail or other retail purposes.
    Location Intelligence

    Current Use by Public Records

    Noonan Insurance Claim ... Loss Adjuster Public Insurance Claim ... Loss Adjuster

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Royal Oak
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1452826
    Latitude
    42.5048046

    Nearby Similar for Sale

    • $649,900
      2,067 SF

      Renovated Royal Oak Commercial Office

      Modern, renovated 2,257 SF office building in Royal Oak.
      1504 E Eleven Mile Rd, Royal Oak, MI 48067
      View Details
    • $1,500,000
      5,184 SF

      Royal Oak Hotel for Sale

      Operating 14-unit hotel near downtown Royal Oak, renovated in 2023.
      111 Twelve Mile Rd, Royal Oak, MI 48073
      View Details
    • $150,000
      3,694 SF

      Royal Oak Automotive/Retail Opportunity

      3694 SF shop near Woodward Ave, Royal Oak. For sale.
      32044 Woodward Ave, Royal Oak, MI 48073
      View Details
    • $839,500
      4,000 SF

      Royal Oak Commercial Property on Woodward

      Versatile property on Woodward Avenue suitable for various commercial uses.
      32044 Woodward Ave, Royal Oak, MI 48073
      View Details
    • $450,000
      1,220 SF

      Downtown Royal Oak Office Space

      Classy Royal Oak office with parking and high foot traffic.
      417 E 4Th St, Royal Oak, MI 48067
      View Details
    • $825,000
      2,818 SF

      Royal Oak Retail Opportunity

      Retail building in a great location in Royal Oak, MI.
      1018 E Eleven Mile Rd, Royal Oak, MI 48067
      View Details
    • $369,000

      Downtown Royal Oak Luxury Loft

      Stunning 2-bedroom, 2-bath loft with city views and premium amenities.
      350 N Main St, Royal Oak, MI 48067
      View Details
    • $199,900

      Farming Supply Company Opportunity

      Turn-key farming supply business with real estate, inventory, and equipment.
      508 N Main St, Royal Oak, MI 49639
      View Details
    • $439,444
      2,958 SF

      End-Unit Condo in Indian Mound

      Move-in ready condo with finished basement near Royal Oak.
      3040 Helen Ct, Royal Oak, MI 48073
      View Details
    • $85,000

      Refreshed Co-op Near Downtown

      Move-in-ready co-op with updated features near Royal Oak.
      2125 Clawson Ave, Royal Oak, MI 48073
      View Details
    • $100,000

      Royal Oak Condo with Pool

      Affordable Royal Oak condo near Woodward and I-75 with pool.
      4910 Briarwood Ave, Royal Oak, MI 48073
      View Details
    • $319,900

      Royal Oak Duplex Opportunity

      Desirable Royal Oak duplex near Woodward Ave, ideal for investors.
      214 Woodsboro Dr, Royal Oak, MI 48067
      View Details

    FAQs

    What type of property is this?
    Retail property - Retail property available for sale in Royal Oak, Michigan.
    Where is this retail property located?
    The property is located at 1815 N Main St Royal Oak, MI.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Retail property for sale; - Located in Royal Oak, Michigan
    (248) 581-3300
    Request Owner's contact information
    1815 N Main St Royal Oak, MI 48073
    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.
    1815 N Main St
    Royal Oak, MI 48073
    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
    1815 N Main St Royal Oak, MI 48073
    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
    Rachele Downs
    (248) 581-3300
    Learn more
    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.