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

    1063 Packard Dr Howell, MI 48843-7303

    • Industrial properties
    • 16,402 SF
    • 1.03 lot acres
    OFF-MARKET
    Last Sale
    May 09, 2024
    $1,580,000
    Value Estimations
    $1,525,000
    Show details
    Cap Rate Potential
    6.3%
    Industrial properties
    Location Intelligence
    Property ID
    US43-1361995
    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

    • Industrial properties

    Property Details for 1063 Packard Dr

    Year built
    2000
    Lot size
    1.03 lot acres
    Property size
    16,402 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    06-28-301-029
    APU
    628301029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,580,000
      ML approach
      $1,580,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,475,000
      6.5%
      $1,360,000
      7%
      $1,265,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $995,000
      Current use
      COMMERCIAL (GENERAL)
      $2,155,000
      Change: +116% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Howell
    County
    Livingston
    State
    Michigan
    Longitude
    -83.9862
    Latitude
    42.6163
    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
    2021
    $9,187
    $0.00
    $0.00
    $321,073
    -
    $0.00
    $0.00
    $642,146

    Comparable in this City

    • Value Estimation by Request
      0.77 Acres

      Austin Ct

      Land • 0.77 Acres
      0 Austin Ct, Howell, MI 48843
      View Details
    • Value Estimation by Request
      2.17 Acres

      Victory Dr

      Land • 2.17 Acres
      0 Victory Dr, Howell, MI 48843
      View Details
    • Value Estimation by Request
      63,071 SF

      1244 Grand Oaks Dr

      INDUSTRIAL (GENERAL) • 63,071 SF
      1244 Grand Oaks Dr, Howell, MI 48843-8578
      View Details
    • Value Estimation by Request
      1,496 SF

      Austin Ct

      INDUSTRIAL (GENERAL) • 1,496 SF
      Austin Ct, Howell, MI 48843
      View Details
    • Value Estimation by Request
      112,419 SF

      1199 Austin Ct

      INDUSTRIAL (GENERAL) • 112,419 SF
      1199 Austin Ct, Howell, MI 48843-9556
      View Details
    • Value Estimation by Request
      39,880 SF

      840 Motor Dr

      INDUSTRIAL (GENERAL) • 39,880 SF
      840 Motor Dr, Howell, MI 48843-3900
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.77 Acres

      Howell Industrial Land for Sale

      Prime I-96 Access, Fully Improved Lots
      0 Austin Ct, Howell, MI 48843
      View Details
    • $2,550,000
      1,213 SF

      Howell Industrial Land: Prime Location

      High-traffic area, development potential.
      1285 Michigan Ave, Howell, MI 48843
      View Details
    • $325,000
      1.50 Acres

      Genoa Township Industrial Land

      1.5-Acre Industrial Lot, I-96 Access
      0 Parkway Dr, Howell, MI 48843
      View Details
    • $599,900
      6,907 SF

      Howell Industrial Building - 6907 SF

      Prime Howell location, multi-tenant industrial building.
      5380 Grand River Ave, Howell, MI 48843
      View Details
    • $499,900
      292 SF

      Howell Industrial Site Redevelopment

      Downtown Howell, High-Visibility Lot
      401 Grand River Ave, Howell, MI 48843
      View Details
    • $375,000
      1,692 SF

      Howell Industrial Duo - Prime Location

      Two Commercial Buildings, High Visibility, Howell
      2426 Grand River Ave, Howell, MI 48843
      View Details

    Similar Nearby for Lease

    • $2,750 /Mo
      3,744 SF

      High-Traffic Corner Commercial Opportunity

      Commercial space with high visibility and investment potential in Howell.
      51 Chilson Rd, Howell, MI 48843
      View Details
    • $11 SF/Yr
      13,680 SF

      Industrial Property Near Highland Road

      Four-unit industrial property with flexible spaces and convenient access.
      5684 E Highland Rd, Howell, MI 48843
      View Details
    • Contact for pricing
      67,082 SF

      Hartland Commercial Land - Prime Location

      1.54 Acres, High-Traffic Retail Site
      10087 Highland Rd, Howell, MI 48843
      View Details
    • $18 SF/Yr
      1,374 SF

      Retail Center Near US-23

      Retail spaces available in well-maintained shopping center near US-23.
      10002-10100 Highland Rd, Howell, MI 48843
      View Details
    • $440,000
      2,200 SF

      Versatile Office Space in Howell

      Functional office space with modern amenities in Howell, Michigan.
      4330 East Grand River Ave, Howell, MI 48843
      View Details
    • $16 SF/Yr
      15,000 SF

      Retail Space on Grand River

      Retail space with high visibility and frontage on Grand River.
      2700 E Grand River Ave, Howell, MI 48843
      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.
    1063 Packard Dr
    Howell, MI 48843-7303
    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.