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    30842 Schoenherr Rd Warren, MI 48088

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    30842 Schoenherr Rd Warren, MI 48088

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    Property Details for 30842 Schoenherr Rd

    Year built
    1963
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 1,300 square foot commercial property, located at 30842 Schoenherr Road in Warren, Michigan, 48088, presents a unique investment opportunity. Situated on the corner of Schoenherr Road and 13 Mile Road, this single-tenant space benefits from a prime location in a high-traffic area, directly across from a large Kroger supermarket. Built in 1963 and extensively renovated in 2020, the property features two bathrooms and central air conditioning. Ample parking is available in a large, shared lot. The space is adaptable to a variety of uses, as evidenced by its previous tenants, a beauty salon and a Metro PCS phone sales and service company. The property is classified as Retail, Office, and Special Purpose, with subtypes including Creative Office and Traditional Office. Lease terms are negotiable, and the property is offered as a triple net lease with a 1.5-month security deposit and a $250 cleaning fee. This property is ideal for a business seeking high visibility and convenient access in a thriving Warren commercial district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9868
    Latitude
    42.5215

    Comparable in this City

    • Value Estimation by Request
      15,200 SF

      15087 13 Mile Rd

      Office properties & Spaces • 15,200 SF
      15087 13 Mile Rd, Warren, MI 48088
      View Details
    • Value Estimation by Request
      6,860 SF

      28499 Schoenherr Rd

      FUNERAL HOME • 6,860 SF
      28499 Schoenherr Rd, Warren, MI 48088-6334
      View Details
    • Value Estimation
      $1,845,000
      21,322 SF

      32000 Schoenherr Rd

      FUNERAL HOME • 21,322 SF
      32000 Schoenherr Rd, Warren, MI 48088-1407
      View Details
    • Value Estimation by Request
      18,000 SF

      30810 Schoenherr Rd

      Neighborhood centers • 18,000 SF
      30810 Schoenherr Rd, Warren, MI 48088
      View Details
    • Value Estimation by Request
      12,000 SF

      24529-24555 12 Mile Rd

      Retail properties & Spaces • 12,000 SF
      24529-24555 12 Mile Rd, Roseville, MI 48088
      View Details
    • Value Estimation by Request
      1,474 SF

      Schoenherr

      NURSERY, GREENHOUSE, FLORIST • 1,474 SF
      Schoenherr, Warren, MI 48088
      View Details

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      Professional Office Space For Lease

      Clean, furnished office space in high-visibility location with utilities included.
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      Office Space with Ample Parking

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    Warren, MI 48088
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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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    30842 Schoenherr Rd, Warren, MI, 48088

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