Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3151-3177 Jefferson Ave Detroit, MI 48207
    Back to Search
    Property profile & analytics

    3151-3177 Jefferson Ave Detroit, MI 48207

    View on Map
    • Retail properties & Spaces
    • 9,732 SF
    • 9.20 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 3151-3177 Jefferson Ave

    Year built
    1998
    Lot size
    9.20 lot acres
    Property size
    9,732 SF
    Property type
    Retail properties & Spaces

    Description

    Rivertown Plaza, located at 3151-3177 E Jefferson Avenue in Detroit, Michigan, presents a unique opportunity for a single-tenant commercial lease. This property boasts a total of 9,732 square feet, with 1,270 square feet currently available. Built in 1998, the building sits on a sizable 9.2-acre lot, offering excellent visibility and accessibility. The property features convenient access via E Jefferson Avenue and Larned Street. Ample parking is provided with 71 spaces available for customers and employees. The property's Wayne County APN is W131000139C43, and the zip code is 48207. This retail space is ideal for a business seeking a prominent location in a vibrant Detroit neighborhood. The single-tenant occupancy allows for complete customization and control over the space. The property's size and parking capacity make it suitable for a variety of retail uses. This is a rare opportunity to secure a well-located, established commercial space in a growing area of Detroit. Interested parties should inquire promptly to learn more about this exceptional leasing opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0169
    Latitude
    42.341

    Comparable in this City

    • Value Estimation by Request
      15,092 SF

      2664-2690 Jefferson Ave

      Lifestyle centers • 15,092 SF
      2664-2690 Jefferson Ave, Detroit, MI 48207
      View Details
    • Value Estimation by Request
      2,900 SF

      Sec Vernor Hwy & Dragoon St

      Individual retail properties • 2,900 SF
      0 Sec Vernor Hwy & Dragoon St, Detroit, MI 48207
      View Details
    • Value Estimation by Request
      5,176 SF

      1343 Fisher Service Dr

      Office Units • 5,176 SF
      1343 Fisher Service Dr, Detroit, MI 48207
      View Details
    • Value Estimation by Request
      60,000 SF

      1551 Winder St

      Wedding venues • 60,000 SF
      1551 Winder St, Detroit, MI 48207
      View Details
    • Value Estimation by Request
      5,000 SF

      289 St Aubin St

      Restaurants • 5,000 SF
      289 St Aubin St, Detroit, MI 48207
      View Details
    • Value Estimation
      $1,130,000
      6,677 SF

      2987 Franklin St, Unit 1

      SHOW ROOM, WAREHOUSE • 6,677 SF
      2987 Franklin St, Detroit, MI 48207-4273
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Detroit Retail Space For Lease

      Retail space available for lease in Detroit, Michigan.
      1001 E Jefferson Ave, Detroit, MI 48207
      View Details
    • Contact for pricing

      Retail Space in Gratiot Plaza

      Retail units available in grocery-anchored neighborhood center.
      3641 Gratiot Ave, Detroit, MI 48207
      View Details
    • $10 SF/Yr

      Mixed-Use Property Near Downtown Detroit

      Mixed-use property with retail/office space and apartment units for rent.
      3323 Gratiot Ave, Detroit, MI 48207
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Downtown Detroit

      3,000 SF retail space with high visibility and accessibility.
      1404 E Jefferson Ave, Detroit, MI 48207
      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.
    3151-3177 Jefferson Ave
    Detroit, MI 48207
    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

    Thank You for Inquiry
    3151-3177 Jefferson Ave, Detroit, MI, 48207
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!