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    1111 Commerce Rd Walled Lake, MI 48390-3007
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    Property profile & analytics

    1111 Commerce Rd, Walled Lake, MI 48390-3007

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    • Automotive properties
    • 29,498 SF
    • 4.70 lot acres
    Off-Market
    Last Sale Dec 1, 2020
    Property ID
    US43-1830287
    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.
    Value Estimations
    $3,220,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • LaFontaine Chrysler Dodge Jeep Ram Walled Lake Parts Store / Auto Parts Store
    • LaFontaine Chrysler Dodge Jeep Ram Walled Lake Service Center / Auto Repair Shop
    • LaFontaine Chrysler Dodge Jeep Ram Walled Lake / Car Dealership / Auto Repair Shop
    • Bad Credit Diva / Car Dealership

    Property Details for 1111 Commerce Rd

    Year built
    1967
    Lot size
    4.70 lot acres
    Zone code
    BI
    Property type
    Automotive properties
    APN
    92-17-27-451-004
    APU
    921727451004

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 4, 2024 — Lag Walled Lake LLC — Deed · related $7.9M · Ally Bank
    Dec 1, 2020 — Lag Walled Lake LLC Rds Management Warranty Deed —
    — — Rds Management INC — Deed Of Trust · related $2M · Comerica Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,660,000
      Market price range: $1.65M - $5.89M
      AI Estimate
      $2,782,000
      Market price range: $1.05M - $4.50M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,615,000
      Current use
      COMMERCIAL (GENERAL)
      $5,195,000
      Change: +44% Conversion: Moderate
      RESTAURANT
      $5,105,000
      Change: +41% Conversion: Difficult
      RETAIL STORES
      $4,980,000
      Change: +38% Conversion: Difficult
      MEDICAL BUILDING
      $4,655,000
      Change: +29% Conversion: Difficult
      OFFICE BUILDING
      $4,585,000
      Change: +27% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Walled Lake
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4788
    Latitude
    42.5425
    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
    $75,212
    $0.00
    $0.00
    $1,470,930
    -
    $0.00
    $0.00
    $2,941,860

    Comparable in this City

    • Value Estimation
      $4,225,000
      42,681 SF

      3055 Ew Maple Rd

      VEHICLE SALES, RENTALS
      3055 Ew Maple Rd, Commerce Township, MI 48390-3845
      View Details
    • Value Estimation
      $1,045,000
      5,928 SF

      1050 Pontiac Trl

      VEHICLE SALES, RENTALS
      1050 Pontiac Trl, Walled Lake, MI 48390-3239
      View Details
    • Value Estimation
      $2,630,000
      22,628 SF

      2199 Haggerty Rd

      VEHICLE SALES, RENTALS
      2199 Haggerty Rd, Commerce Township, MI 48390-1714
      View Details
    • Value Estimation
      $2,470,000
      22,628 SF

      2199 Haggerty Rd

      VEHICLE SALES, RENTALS
      2199 Haggerty Rd, Commerce Township, MI 48390-1714
      View Details
    • Value Estimation
      $575,000
      4,326 SF

      1705 Ew Maple Rd

      AUTO REPAIR, GARAGE
      1705 Ew Maple Rd, Walled Lake, MI 48390-3819
      View Details
    • Value Estimation
      $2,745,000
      42,512 SF

      4212 Haggerty Hwy

      AUTO REPAIR, GARAGE
      4212 Haggerty Hwy, Commerce Township, MI 48390-1315
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing

      Full-Service Gas Station Market

      Full-service destination gas station with a drive-thru and convenience-focused retail concept.
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      View Details
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      20,015 SF

      Retail Building in Commercial Corridor

      20,015 RSF retail building for sale in Walled Lake.
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      3,117 SF

      Established Convenience Store with Rental Income

      20+ year convenience store with liquor, beer, wine, lotto.
      1215 W Oakley Park Rd, Commerce Twp, MI 48390
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    • $275,000
      1,132 SF

      Walled Lake Commercial Opportunity

      Commercial building and established business for sale in Walled Lake.
      121 E Walled Lake Dr, Walled Lake, MI 48390
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      Retail Strip Center For Sale

      Neighborhood retail strip center with high-traffic location in Milford, MI.
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      2,633 SF

      Freestanding Restaurant with Drive-Thru

      2,633 SF restaurant with drive-thru in downtown Walled Lake.
      976 N Pontiac Trl, Walled Lake, MI 48390
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Maple Plaza

      Retail property with high visibility and access in Walled Lake.
      1124 West Maple Rd, Walled Lake, MI 48390
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      1,450 SF

      Retail Center Space Available

      Well-maintained retail center with spaces suitable for various uses.
      4052-4100 Haggerty Rd, Commerce Township, MI 48390
      View Details
    • Contact for pricing
      3,482 SF

      End-Cap Retail Space with Drive-Thru

      3,482 SF end-cap space with drive-thru, monument signage.
      2141 N Pontiac Trl, Commerce Township, MI 48390
      View Details
    • Contact for pricing

      Commerce Township Retail Space Available

      Prime retail space for lease in Maple Park Plaza.
      1001 Welch Rd, Walled Lake, MI 48390
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    • Contact for pricing

      Walled Lake Retail Space Available

      Retail space for rent in Walled Lake, Michigan.
      1015-1017 West Maple Rd, Walled Lake, MI 48390
      View Details
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    Walled Lake, MI 48390-3007
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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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