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    1164 Lapeer Rd Orion Township, MI 48360
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    1164 Lapeer Rd Orion Township, MI 48360

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    • Retail properties & Spaces
    • 1,444 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Kevin Mlynarek: Allstate Insurance / Insurance Agency
    • Allstate / Insurance Agency
    • SALON BLUE & SPA / Hair Salon

    Property Details for 1164 Lapeer Rd

    Property size
    1,444 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional 1,444-square-foot retail space is ideally situated at 1164 S Lapeer Rd in Orion Township, Oakland County, Michigan, zip code 48360. The single-tenant property offers high visibility and accessibility, boasting a prime location directly across Lapeer Road from a Meijer and Planet Fitness. This ensures significant daily traffic, with over 40,000 vehicles passing by daily. The entire space is currently vacant, presenting a unique opportunity for immediate occupancy. The property benefits from its placement within a thriving retail corridor experiencing substantial growth. Orion Township's population within a 5-mile radius has increased from 65,743 in 2010 to 71,830 in 2024, indicating a strong and expanding market. Further enhancing the location's appeal is the recent addition of a new White Water Car Wash just north of the property. This adds to the already robust commercial activity in the immediate vicinity. The property's 1,444 square feet provide ample space for a variety of retail uses, making it an attractive investment for businesses seeking high visibility and a strong customer base in a rapidly growing community. This is a rare opportunity to establish a presence in a high-traffic area with excellent demographics.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Orion Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2419
    Latitude
    42.7657

    Comparable in this City

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      1015 Baldwin Rd

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    • Value Estimation
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      1176 Lapeer Rd, Unit 11761

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      2250 Baldwin Rd

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    • Value Estimation
      $1,960,000
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      1404 Lapeer Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,355 SF
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    • Value Estimation
      $13,520,000
      89,899 SF

      1107 Lapeer Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 89,899 SF
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    Similar Nearby for Sale

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      Redevelopment Opportunity on Lapeer Road

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      Residential Land Near Lake Orion

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      Waterfront Land in Lake Orion

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      Development Opportunity Up to 8 Acres

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      14,448 SF

      Lake Orion Multi-Tenant Office

      Office building near downtown Lake Orion for sale or lease.
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      Orion Township Retail Space

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      Lake Orion Commercial Space Available

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      Retail Space on Lapeer Road

      Retail space with high visibility and traffic in Lake Orion.
      2643-2661 S Lapeer Rd, Lake Orion, MI 48360
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      Retail Space on Lapeer Road

      Retail space available in high-traffic Orion Township location.
      1164 S Lapeer Rd, Orion Township, MI 48360
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      Retail Space on Lapeer Road

      Retail space available in high-traffic Orion Township location.
      1164 S Lapeer Rd, Orion Township, MI 48360
      View Details
    • $15 SF/Yr

      Retail Space on Lapeer Road

      Retail property with high visibility and traffic in Lake Orion.
      2643-2651 S Lapeer Rd, Lake Orion, MI 48360
      View Details
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    Orion Township, MI 48360
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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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