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

    10311 Gratiot Ave Detroit, MI 48213-3212

    • Individual retail properties
    • 5,875 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1492742
    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

    • New Zeplin Dry Cleaners / Dry Cleaner

    Property Details for 10311 Gratiot Ave

    Year built
    1945
    Lot size
    0.15 lot acres
    Property size
    5,875 SF
    Zone code
    B4
    Property type
    Individual retail properties
    APN
    19001770.
    APU
    19001770

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0024
    Latitude
    42.3981
    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
    2020
    $4,658
    $0.00
    $0.00
    $78,400
    -
    $0.00
    $0.00
    $156,800

    Comparable in this City

    • Value Estimation by Request
      10,106 SF

      9140 Chalmers St

      LAUNDROMAT (SELF-SERVICE) • 10,106 SF
      9140 Chalmers St, Detroit, MI 48213-2029
      View Details
    • Value Estimation by Request
      3,528 SF

      8141 Gratiot Ave

      DRY CLEANER • 3,528 SF
      8141 Gratiot Ave, Detroit, MI 48213-2939
      View Details
    • Value Estimation by Request
      5,428 SF

      10105 Shoemaker St

      DRY CLEANER • 5,428 SF
      10105 Shoemaker St, Detroit, MI 48213-3157
      View Details
    • Value Estimation by Request
      2,400 SF

      11057 Gratiot Ave

      BARBER, HAIR SALON • 2,400 SF
      11057 Gratiot Ave, Detroit, MI 48213-1333
      View Details
    • Value Estimation by Request
      4,654 SF

      8421 Gratiot Ave

      LAUNDROMAT (SELF-SERVICE) • 4,654 SF
      8421 Gratiot Ave, Detroit, MI 48213-2945
      View Details
    • Value Estimation by Request
      3,600 SF

      10834 Hayes St

      DRY CLEANER • 3,600 SF
      10834 Hayes St, Detroit, MI 48213-1525
      View Details

    Similar Nearby for Sale

    • $139,900
      2,250 SF

      Updated Commercial Property on Van Dyke

      2,250 SF commercial property with modern updates in Detroit.
      6058 Van Dyke St, Detroit, MI 48213
      View Details
    • $255,900

      Commercial Property with Large Parking

      Commercial property suitable for warehousing or retail with parking.
      8330 Harper Ave, Detroit, MI 48213
      View Details
    • $295,000
      2,508 SF

      Gratiot Ave Retail Investment Opportunity

      Prime Detroit location, 2,508 SF bank building.
      8121 Gratiot Ave, Detroit, MI 48213
      View Details
    • Contact for pricing
      1,200 SF

      Ravendale Retail Opportunity

      Detroit Bar/Store, $18k
      12555 Harper Ave, Detroit, MI 48213
      View Details
    • $199,000
      2,508 SF

      Former Bank Branch For Sale

      Former bank branch available for sale in Detroit, Michigan.
      8121 Gratiot Ave, Detroit, MI 48213
      View Details
    • $100,000
      8,281 SF

      Detroit Commercial Canvas on Harper Avenue

      8,281 sq ft commercial property zoned B4 in Detroit.
      14320 Harper Ave, Detroit, MI 48213
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo

      Retail Space For Lease

      Retail space available for immediate occupancy in high-traffic location.
      9472 Conner St, Detroit, MI 48213
      View Details
    • $1,000 /Mo

      Retail, Showroom, or Office Space

      Three suites available for lease in high-traffic Detroit location.
      9458 Conner St, Detroit, MI 48213
      View Details
    • $8,950 /Mo
      16,492 SF

      Former Dollar General Retail Space

      Large retail space with asphalt lot in Detroit, MI.
      10220 Gratiot Ave, Detroit, MI 48213
      View Details
    • Contact for pricing
      15,860 SF

      Detroit Supermarket - 15,860 SF

      High-traffic Detroit retail space available.
      12021 Harper Ave, Detroit, MI 48213
      View Details
    • $3,000 /Mo
      2,000 SF

      Detroit Drive-Thru Ready Retail

      2,000 SF Detroit building with drive-thru on 0.54 acres.
      11288 Gratiot Ave, Detroit, MI 48213
      View Details
    • Contact for pricing

      Shoemaker Street Commercial Property

      Commercial property available for rent on Shoemaker Street, Detroit.
      11400 Shoemaker St, Detroit, MI 48213
      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.
    10311 Gratiot Ave
    Detroit, MI 48213-3212
    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.