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    31023 John R Rd Madison Heights, MI 48071
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    31023 John R Rd Madison Heights, MI 48071

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    • Retail properties & Spaces
    • 6,400 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 31023 John R Rd

    Property size
    6,400 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional retail space, located at 31023 John R Road in Madison Heights, Michigan, 48071, presents a unique opportunity for businesses seeking high visibility and accessibility. The property is situated on a hard corner lot at the intersection of 13 Mile Road and John R Road, ensuring maximum exposure to a substantial daily traffic volume. The building itself offers a total of 6,400 square feet, with 1,200 square feet currently available for lease. This space is ideal for a variety of retail uses, benefiting from its prime location and ample space. The property is classified as Street Retail and features multiple tenancies, indicating a vibrant and established commercial environment. The address is easily accessible, offering convenient access for customers and employees alike. This is the last remaining space in this highly desirable location, making it a truly exceptional opportunity for the right business. The property's location in Madison Heights, Michigan provides access to a strong local market and a diverse customer base. Don't miss this chance to secure a prominent retail presence in a thriving commercial area. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Oakland
    State
    Michigan
    Longitude
    -83.107
    Latitude
    42.5206

    Comparable in this City

    • Value Estimation by Request
      14,999 SF

      29048 Campbell Rd

      Individual retail properties • 14,999 SF
      29048 Campbell Rd, Madison Heights, MI 48071
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    • Value Estimation by Request
      3,500 SF

      535 14 Mile Rd

      Individual retail properties • 3,500 SF
      535 14 Mile Rd, Madison Heights, MI 48071
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    • Value Estimation by Request
      2,592 SF

      314 14th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,592 SF
      314 14th Mile Rd, Madison Heights, MI 48071-1364
      View Details
    • Value Estimation
      $575,000
      2,995 SF

      1850 12th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,995 SF
      1850 12th Mile Rd, Madison Heights, MI 48071-2659
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    • Value Estimation
      $1,115,000
      6,350 SF

      1321 14th Mile Rd, Unit 1325

      RETAIL STORES (PERSONAL SERVICES) • 6,350 SF
      1321 14th Mile Rd, Madison Heights, MI 48071-1056
      View Details
    • Value Estimation
      $3,135,000
      16,782 SF

      2 Ajax Dr

      RETAIL STORES (PERSONAL SERVICES) • 16,782 SF
      2 Ajax Dr, Madison Heights, MI 48071-2405
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Madison Heights Freestanding Retail Building

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      Madison Heights Commercial/Industrial Opportunity

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      Madison Heights Commercial Opportunity

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      Madison Heights Investment Opportunity

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    Similar Nearby for Lease

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      Freestanding Retail on John R

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      Retail Space on John R Road

      5,134 SF retail space with abundant parking.
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    • $2,800 /Mo

      High Exposure Stand Alone Building

      Stand alone building with high exposure, ready for tenant design.
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      Madison Heights Stand Alone Building

      Stand alone building with John R road exposure in Madison Heights.
      26385 John R Rd, Madison Heights, MI 48071
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    • Contact for pricing
      1,100 SF

      Madison Heights Retail Space Available

      Retail space in Madison Heights near major retailers.
      28707 Dequindre Rd, Madison Heights, MI 48071
      View Details
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    Madison Heights, MI 48071
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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.

    More about this property
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