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    Retail Space in Bedford Plaza Title is generated by Realmo AI

    7200 Lewis Ave, Temperance, MI 48182

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    Retail space available in Temperance, Michigan with high traffic.

    Type:Retail
    Added:
    Jun 25, 2020
    Days on Market:
    2169
    Last Refresh:
    May 12 at 10:42 pm

    Property Features for 7200 Lewis Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1994

    Spaces For Lease

    at 7200 Lewis Ave Contact us

    Available Space 2 $12/Mo

    Size
    1,500 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Doug Flick

    Listing agent Doug Flick License #OH

    Listing office EIDI Properties

    Listing date Jun 25, 2020

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of EIDI Properties

    HighLights

    • Strong tenant base anchored by Michigan Secretary of State and Miss Lori’s Dance Express.
    • Located in an area that has seen significant residential growth.
    • Attracts residents from both Toledo, Ohio, and Lambertville/Monroe County, Michigan.
    • Excellent demographics and median incomes in the surrounding area.
    • High traffic counts with 14,900 vehicles per day on Lewis Avenue.
    • Built in 1994.

    Overview

    The Bedford Plaza is situated on Lewis Avenue in Temperance, Michigan, approximately 0.5 miles from the state line. This location attracts residents from Toledo, Ohio, as well as those from Lambertville and Monroe County. The surrounding area has seen significant residential growth over the past decade, with the development of numerous subdivisions, apartments, and homes. The plaza benefits from a strong tenant base, including traffic generators such as the Michigan Secretary of State and Miss Lori’s Dance Express. The immediate vicinity is characterized by middle-class residential neighborhoods with favorable demographics and median incomes. The population within a 1-mile radius is approximately 4,779, while the population within a 3-mile radius is approximately 39,565. The median income within a 1-mile radius is approximately $61,800, and the median income within a 3-mile radius is approximately $51,554. Traffic counts indicate approximately 14,900 vehicles per day on Lewis Avenue and approximately 12,200 vehicles per day on Sterns Road. This location is suitable for various retail and commercial ventures.
    Property Profile Location Intelligence

    Current Use by Public Records

    Boom Town Poker ... Nightclub Christian Etheridge - State ... Insurance Agency Mancino's Pizza & Grinders Restaurant Secretary of State office Department Of Motor Vehicles Chicago Title Title Company

    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
    Temperance
    County
    Monroe
    State
    Michigan
    Longitude
    -83.566342
    Latitude
    41.746717

    Nearby Similar for Lease

    • $3,500/Mo

      Established Bar and Restaurant Space

      Turnkey bar and restaurant with liquor license and parking.
      7511 Lewis Ave, Temperance, MI 48182
      View Details
    • $12 SF/Yr
      1,500 SF

      Retail Space in Bedford Plaza

      Retail space for lease in Temperance, Michigan's Bedford Plaza.
      7200 Lewis Ave, Temperance, MI
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space available in Temperance, Michigan with high traffic.
    Where is this shopping center located?
    The property is located at 7200 Lewis Ave Temperance, MI.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Strong tenant base anchored by Michigan Secretary of State and Miss Lori’s Dance Express.; Located in an area that has seen significant residential growth.; Attracts residents from both Toledo, Ohio, and Lambertville/Monroe County, Michigan.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Doug Flick
    Real Estate License ID: OH
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    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.

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