Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10 Mcnichols Rd Highland Park, MI 48203-2810

    • Grocery and convenience stores
    • 5,424 SF
    • 0.39 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1162260
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 10 Mcnichols Rd

    Year built
    1968
    Lot size
    0.39 lot acres
    Property size
    5,424 SF
    Property type
    Grocery and convenience stores
    APN
    43 002 03 0066 000
    APU
    43002030066000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $649,000
      Market price range: $650k - $1.72M
      AI Estimate
      $649,000
      Market price range: $650k - $1.72M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $410,000
      Current use
      COMMERCIAL (GENERAL)
      $495,000
      Change: +21% Conversion: Easy
      RESTAURANT
      $495,000
      Change: +20% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Highland Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1013
    Latitude
    42.4176
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,658
    $0.00
    $0.00
    $51,700
    -
    $0.00
    $0.00
    $103,400

    Comparable in this City

    • Value Estimation by Request
      2,796 SF

      1841 State Fair

      CONVENIENCE STORE • 2,796 SF
      1841 State Fair, Highland Park, MI 48203-1359
      View Details
    • Value Estimation
      $530,000
      4,430 SF

      12105 Woodward Ave

      CONVENIENCE STORE • 4,430 SF
      12105 Woodward Ave, Highland Park, MI 48203-3579
      View Details
    • Value Estimation
      $585,000
      4,862 SF

      11744 Woodward Ave

      CONVENIENCE STORE • 4,862 SF
      11744 Woodward Ave, Highland Park, MI 48203-3574
      View Details
    • Value Estimation
      $940,000
      5,216 SF

      13300 Woodward Ave

      CONVENIENCE STORE • 5,216 SF
      13300 Woodward Ave, Highland Park, MI 48203-3611
      View Details
    • Value Estimation by Request
      1,375 SF

      800 7th Mile Rd

      CONVENIENCE STORE • 1,375 SF
      800 7th Mile Rd, Detroit, MI 48203-2029
      View Details
    • Value Estimation by Request
      2,326 SF

      15 8th Mile Rd

      CONVENIENCE STORE • 2,326 SF
      15 8th Mile Rd, Highland Park, MI 48203-1043
      View Details

    Similar Nearby for Sale

    • $595,000
      18,135 SF

      Former Supermarket on Bartlett Street

      Former supermarket property with Greenway Development along the property.
      52 Bartlett St, Highland Park, MI 48203
      View Details
    • $695,000
      0.08 Acres

      High-Visibility Commercial Property on 8 Mile

      12,000 SF commercial property with high visibility on 8 Mile.
      300 E Eight Mile Rd, Highland Park, MI 48203
      View Details
    • $400,000
      0.07 Acres

      Woodward Ave Mixed-Use Gem

      Detroit Investment Opportunity: High-Traffic Location
      17422 Woodward Ave, Detroit, MI 48203
      View Details
    • $52,000

      Highland Park Commercial Property

      800 SF commercial property ideal for retail or office.
      18039 John R St, Detroit, MI 48203
      View Details
    • Contact for pricing
      3,772 SF

      Stand-Alone Building with Potential

      Stand-alone building suitable for retail, office, or daycare.
      16247 Hamilton Ave, Highland Park, MI 48203
      View Details
    • $139,000

      Prime Commercial Property on Woodward

      Highly visible commercial property off Woodward Avenue, ideal for various businesses.
      18326 Woodward Ave, Detroit, MI 48203
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      122,430 SF

      Model T Plaza Retail Center

      Highland Park, MI Retail Space Available
      14004-14134 Woodward Ave, Highland Park, MI 48203
      View Details
    • $16 SF/Yr
      1,192 SF

      New Retail Space Available

      Newly constructed retail space with ample parking on a corner.
      18901-18931 W 7 Mile Rd, Detroit, MI 48203
      View Details
    • $20 SF/Yr
      4,125 SF

      Highland Park Retail Storefront

      Prime Woodward Ave. Liquor Store Opportunity
      11744 Woodward Ave, Highland Park, MI 48203
      View Details
    • Contact for pricing

      Highland Park Commercial Space Available

      Commercial space available in Highland Park, Michigan.
      14000 Woodward Ave, Detroit, MI 48203
      View Details
    • Contact for pricing
      6,564 SF

      Highland Park Retail Plaza

      Prime Retail Space, High Traffic Area
      12029 Woodward Ave, Highland Park, MI 48203
      View Details
    • $16 SF/Yr
      64,518 SF

      Highland Park Retail Center

      Prime Retail Space, High Traffic Area
      14467 Woodward Ave, Highland Park, MI 48203
      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.
    10 Mcnichols Rd
    Highland Park, MI 48203-2810
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.