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    2625 Wayne Rd Westland, MI 48186
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    2625 Wayne Rd Westland, MI 48186

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    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Affordable Movers / Moving Company / Storage Facility
    • Pivox Electronics / Electronics & Wireless Store
    • Pretty Iinches / Cosmetic Store / Big Box & Wholesale Store

    Property Details for 2625 Wayne Rd

    Property type
    Retail properties & Spaces

    Description

    This exceptional 1,345 square foot freestanding retail building is ideally situated on South Wayne Road, offering unparalleled visibility and accessibility to potential customers. The property boasts excellent pylon signage, ensuring high brand recognition and attracting significant foot traffic. Recent renovations have enhanced both the building's aesthetic appeal and functionality, as well as improvements to the parking lot. The single-tenant occupancy provides a unique opportunity for a business seeking a prominent location with minimal competition within the immediate vicinity. The building's prime location and recent upgrades make it an attractive investment for a variety of retail ventures. The spacious layout allows for flexible configuration to suit diverse business needs. This is a rare opportunity to secure a well-maintained, highly visible retail space in a desirable location. The property's strong curb appeal and convenient parking further enhance its desirability. Serious inquiries are encouraged to explore the potential of this exceptional retail property and its significant advantages. The building's condition and location combine to create a compelling investment opportunity for discerning businesses seeking a high-impact presence in a thriving commercial area. Contact us today to schedule a viewing and discuss the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Westland
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3853
    Latitude
    42.289

    Comparable in this City

    • Value Estimation by Request
      10,000 SF

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      148-206 Wayne Rd

      Office properties & Spaces • 29,410 SF
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    • Value Estimation by Request
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      892 Wayne Rd

      Office properties & Spaces • 4,700 SF
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    • Value Estimation
      $4,320,000
      49,454 SF

      124 Merriman Rd

      SHOPPING CENTER, STRIP CENTER • 49,454 SF
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    • Value Estimation by Request
      1,602 SF

      1625 Wayne Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,602 SF
      1625 Wayne Rd, Westland, MI 48186-5435
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    • Value Estimation
      $5,400,000
      110,320 SF

      165 Wayne Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 110,320 SF
      165 Wayne Rd, Westland, MI 48186-4301
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      Land For Sale

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      Land Opportunity on Wayne Road

      1.1 acre land parcel available on Wayne Road.
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    Similar Nearby for Lease

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      Retail Space in Westland, MI

      Retail units available in Westland, MI, from 600-12,546 SF.
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      Retail and office units for lease in Westland, Michigan.
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      Retail space available in Kroger-anchored shopping center.
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      Retail Space in Kroger-Anchored Center

      Retail space for lease in Westland, Michigan.
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      Freestanding Building on Wayne Road

      Retail space with excellent visibility and recent renovations.
      2625 S Wayne Rd, Westland, MI 48186
      View Details
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    Westland, MI 48186
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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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