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
    Property profile & analytics

    14255 Michigan Ave Dearborn, MI 48126-3524

    • Commercial real estate
    • 0.01 lot acres
    OFF-MARKET
    Last Sale
    Aug 20, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3054546
    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

    • Commercial real estate

    Property Details for 14255 Michigan Ave

    Lot size
    0.01 lot acres
    Zone code
    BC
    Property type
    Commercial real estate
    APN
    82 10 184 05 024
    APU
    821018405024

    Description

    This exceptional commercial land parcel, located at 14255 Michigan Avenue in Dearborn, Michigan, presents a unique investment opportunity. Situated in the vibrant heart of East Dearborn's Downtown shopping district, this corner lot boasts significant frontage on Michigan Avenue, one of Dearborn's busiest thoroughfares, ensuring high visibility and accessibility for any business. The property's strategic location offers unparalleled exposure to a large volume of daily traffic. Ample parking is readily available in a lot behind the property, owned and managed by the City of Dearborn, eliminating parking concerns for potential tenants or customers. The zoning allows for a variety of commercial uses, making it ideal for a range of businesses, including but not limited to small-scale retail establishments, restaurants, or other service-oriented enterprises. The asking price for this highly desirable property is $150,000. This is a rare chance to acquire a prime commercial location in a thriving area of Dearborn, offering significant potential for growth and return on investment. The property is conveniently located in Wayne County, Michigan, with the zip code 48126. The geographic coordinates are 42.3202888 latitude and -83.1810185 longitude. This property is zoned for commercial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1811
    Latitude
    42.3203
    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
    2023
    $183
    $0.00
    $0.00
    $2,900
    -
    $0.00
    $0.00
    $5,800

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      4211 Maple St

      COMMERCIAL (GENERAL) • 0.23 Acres
      4211 Maple St, Dearborn, MI 48126-3533
      View Details
    • Value Estimation by Request
      0.09 Acres

      7931 Coleman St

      COMMERCIAL (GENERAL) • 0.09 Acres
      7931 Coleman St, Dearborn, MI 48126-1027
      View Details
    • Value Estimation by Request
      0.04 Acres

      6027 Miller Rd

      COMMERCIAL (GENERAL) • 0.04 Acres
      6027 Miller Rd, Dearborn, MI 48126-2308
      View Details
    • Value Estimation by Request
      0.06 Acres

      4630 Roemer St

      COMMERCIAL (GENERAL) • 0.06 Acres
      4630 Roemer St, Dearborn, MI 48126-3132
      View Details
    • Value Estimation by Request
      0.46 Acres

      15321 Tireman Ave

      COMMERCIAL (GENERAL) • 0.46 Acres
      15321 Tireman Ave, Dearborn, MI 48126-1045
      View Details
    • Value Estimation by Request
      0.30 Acres

      8701 Tireman Ave

      COMMERCIAL (GENERAL) • 0.30 Acres
      8701 Tireman Ave, Dearborn, MI 48126-1215
      View Details

    Similar Nearby for Sale

    • $2,100,000
      18,096 SF

      Dearborn Industrial Building - $2.1M

      18,096 SF Industrial Building, High Rental Income
      6650 Chase Rd, Dearborn, MI 48126
      View Details
    • Contact for pricing
      88,252 SF

      Dearborn Executive Office Space

      Class A Office Building, 88,252 SF
      5300 Auto Club Dr, Dearborn, MI 48126
      View Details
    • $2,100,000
      18,096 SF

      Dearborn Warehouse Investment

      18,000 SF Warehouse, $2.1M Asking
      6650 Chase Rd, Dearborn, MI 48126
      View Details
    • $2,100,000
      17,998 SF

      Dearborn Warehouse Space For Sale

      17,998 SF warehouse available in Dearborn, Michigan.
      6650 Chase Rd, Dearborn, MI 48126
      View Details
    • $795,000

      Established Bakery in Dearborn

      Turn-key bakery with real estate, business, and equipment included.
      6412 Schaefer Rd, Dearborn, MI 48126
      View Details
    • $89,900

      Vacant Land Near Railroad Tracks

      Vacant land, 0.24 acres, next to railroad tracks.
      7120 Ternes St, Dearborn, MI 48126
      View Details

    Similar Nearby for Lease

    • $5,750 /Mo

      Mixed-Use Space with Office & Warehouse

      Two-story office and warehouse space with overhead door and parking.
      10501 Haggerty St, Dearborn, MI 48126
      View Details
    • $2,300 /Mo

      New Retail Space Available

      Newly built retail space available in Dearborn, Michigan.
      6060 Miller Rd, Dearborn, MI 48126
      View Details
    • $1,400 /Mo

      Dearborn Office Space For Lease

      1,100 sqft office space near Michigan Ave & Schaefer.
      14201 Prospect St 4 /, Dearborn, MI 48126
      View Details
    • $2,899 /Mo

      East Dearborn Commercial Space Available

      2,500 sq ft space in high-traffic East Dearborn location.
      5461 Schaefer Rd, Dearborn, MI 48126
      View Details
    • $6 SF/Yr
      25,500 SF

      Dearborn Warehouse - 25,500 SF

      Spacious Dearborn warehouse, ideal for immediate occupancy.
      10421 Ford Rd, Dearborn, MI 48126
      View Details
    • $5,000 /Mo

      Retail Space with Bonus Area

      3,000 SF retail space with additional 3,000 SF bonus space.
      5070 Schaefer Rd, Dearborn, MI 48126
      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.
    14255 Michigan Ave
    Dearborn, MI 48126-3524
    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.