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

    11081 Shoemaker St Detroit, MI 48213-3452

    • Industrial land
    • 46,594 SF
    • 4.53 lot acres
    OFF-MARKET
    Value Estimations
    $1,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1445657
    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 land

    Property Details for 11081 Shoemaker St

    Year built
    1943
    Lot size
    4.53 lot acres
    Property size
    46,594 SF
    Zone code
    M4
    Property type
    Industrial land
    APN
    21003300.002L
    APU
    21003300002L

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,872,000
      Market price range: $934k - $3.16M
      AI Estimate
      $1,675,000
      Market price range: $966k - $2.80M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,870,000
      Current use
      MEDICAL BUILDING
      $2,935,000
      Change: +57% Conversion: Difficult
      OFFICE BUILDING
      $2,870,000
      Change: +53% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.987
    Latitude
    42.3906
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      10135 Traverse St

      INDUSTRIAL - VACANT LAND • 0.08 Acres
      10135 Traverse St, Detroit, MI 48213-1139
      View Details
    • Value Estimation by Request
      0.24 Acres

      9823 Traverse St

      INDUSTRIAL - VACANT LAND • 0.24 Acres
      9823 Traverse St, Detroit, MI 48213-1162
      View Details
    • Value Estimation by Request
      0.06 Acres

      9101 French Rd

      INDUSTRIAL - VACANT LAND • 0.06 Acres
      9101 French Rd, Detroit, MI 48213-3270
      View Details
    • Value Estimation by Request
      0.25 Acres

      11141 Harper Ave

      INDUSTRIAL - VACANT LAND • 0.25 Acres
      11141 Harper Ave, Detroit, MI 48213-3319
      View Details
    • Value Estimation by Request
      0.08 Acres

      8714 Grinnell St

      INDUSTRIAL - VACANT LAND • 0.08 Acres
      8714 Grinnell St, Detroit, MI 48213-1100
      View Details
    • Value Estimation
      $1,460,000
      1.65 Acres

      9761 Van Dyke St

      INDUSTRIAL - VACANT LAND • 71,648 SF
      9761 Van Dyke St, Detroit, MI 48213-1032
      View Details

    Similar Nearby for Sale

    • $80,000
      0.12 Acres

      Detroit Commercial Property For Sale

      3,166 sq ft commercial property in high-traffic Detroit corridor.
      7738 Harper Ave, Detroit, MI 48213
      View Details
    • Contact for pricing

      Prime Land For Development

      Land available for development in a revitalizing neighborhood.
      5921 Sheridan St, Detroit, MI 48213
      View Details
    • $99,000
      0.10 Acres

      Detroit Commercial Land For Sale

      Commercial land available in Detroit, Michigan.
      10400 Harper Ave, Detroit, MI 48213
      View Details
    • Contact for pricing

      Detroit Land for Sale

      Land available in Detroit, Michigan.
      8146 Edgewood St, Detroit, MI 48213
      View Details
    • Contact for pricing

      Detroit East Side Vacant Lots

      Two adjoining vacant lots suitable for new construction or investment.
      5900 Belvidere St, Detroit, MI 48213
      View Details
    • Contact for pricing
      0.10 Acres

      Detroit Commercial Land Redevelopment Opportunity

      Commercial land in Detroit's 48213 zip code, ideal for redevelopment.
      5501 Cadillac Ave, Detroit, MI 48213
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      248,292 SF

      Detroit Industrial Lot - 5.7 Acres

      Massive industrial lot, ample parking, M-2 zoning.
      8611 Grinnell Ave, Detroit, MI 48213
      View Details
    • $2,200 /Mo

      High-Visibility Corner Lot on Gratiot

      High-traffic corner lot zoned for automotive use.
      10333 Gratiot Ave, Detroit, MI 48213
      View Details
    • $13 SF/Yr
      18,700 SF

      Detroit Medical Office Space for Lease

      Prime Gratiot Ave medical suites available.
      11180 Gratiot Ave, Detroit, MI 48213
      View Details
    • Contact for pricing
      12,084 SF

      Gratiot Ave Retail Space For Lease

      Detroit Retail Space - High Visibility
      10648-10770 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
    • $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
    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.
    11081 Shoemaker St
    Detroit, MI 48213-3452
    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.