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    Michigan Ave & Old Canton Ctr Rd Canton, MI 48188
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    Michigan Ave & Old Canton Ctr Rd Canton, MI 48188

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    • Retail properties & Spaces
    • 1 SF
    • 16.19 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Michigan Ave & Old Canton Ctr Rd

    Lot size
    16.19 lot acres
    Property size
    1 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property presents a unique investment opportunity along the bustling Michigan Avenue and Old Canton Center Road intersection in Wayne County. The site offers a flexible range of land parcels, ideal for various retail developments. Currently, there are three available retail spaces, with lot sizes ranging from 1.47 to 3.82 acres, providing ample space for individual businesses or a cohesive retail center. The total land area encompasses up to 16.19 acres, offering significant expansion potential. The property boasts an impressive 1,000 feet of frontage along Michigan Avenue, ensuring high visibility and accessibility for potential tenants and customers. Multiple outparcels are also available, allowing for diverse development options and maximizing investment returns. The C3 zoning designation provides flexibility for a wide array of commercial uses. This prime location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a high-traffic area with strong growth potential. The available land and existing spaces provide a unique opportunity to develop a thriving retail hub in a desirable location. The property's size and zoning make it suitable for a variety of retail concepts, from smaller boutique shops to larger anchor stores. This is a rare opportunity to acquire a significant commercial property in a high-demand area. Serious inquiries are encouraged to explore the possibilities of this exceptional retail investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4854
    Latitude
    42.2725

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      Land For Sale

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      44927 Michigan Ave, Canton, MI 48188
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      1 SF

      Land For Sale

      Land available for sale.
      Michigan Ave & Old Canton Ctr Rd, Canton, MI 48188
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    Similar Nearby for Lease

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      Land Available For Lease

      Land available for lease at Michigan Ave & Beck Rd.
      Nec Michigan Ave & Beck Rd, Canton, MI 48188
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      Michigan Avenue Commercial Space Available

      Commercial space available for lease on Michigan Avenue.
      46660 Michigan Ave, Canton, MI 48188
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      Canton Retail and Automotive Space

      Retail and automotive spaces available for lease in Canton, MI.
      50409-50469 Independence St, Canton, MI 48188
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      Canton Retail Space Available

      Retail spaces available, ranging from 2,650 to 16,104 SqFt.
      4011-4121 Canton Center Rd, Canton, MI 48188
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      Canton Retail End-Cap Space

      Prime retail space in high-traffic Canton location.
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      Parking Spaces Available For Rent

      Parking spaces available for rent in Canton, Michigan.
      46660 Michigan Ave, Canton, MI 48188
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    Canton, MI 48188
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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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    Michigan Ave & Old Canton Ctr Rd, Canton, MI, 48188
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