Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    11233 Morang Dr Detroit, MI 48224

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11233 Morang Dr Detroit, MI 48224

    View on Map
    • Turn key restaurants
    • 4,828 SF
    • 0.27 lot acres
    For Sale
    $225,000
    View Listing →
    Detroit Restaurant and Business Opportunity For Sale
    $225,000
    4,828 SF

    Detroit Restaurant and Business Opportunity

    Restaurant and real estate for sale in Detroit, Michigan.

    11233 Morang Drive, Detroit, MI 48224
    View Listing
    Property ID
    US43-1500977
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 11233 Morang Dr

    Year built
    1971
    Lot size
    0.27 lot acres
    Property size
    4,828 SF
    Zone code
    B4
    Property type
    Turn key restaurants
    APN
    21076917-22
    APU
    2107691722

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9445
    Latitude
    42.4236
    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
    $9,696
    $0.00
    $0.00
    $132,300
    -
    $0.00
    $0.00
    $264,600

    Comparable in this City

    • Value Estimation by Request
      800 SF

      16619 Warren Ave

      RESTAURANT • 800 SF
      16619 Warren Ave, Detroit, MI 48224-2744
      View Details
    • Value Estimation by Request
      1,805 SF

      16020 Warren Ave

      RESTAURANT • 1,805 SF
      16020 Warren Ave, Detroit, MI 48224-3220
      View Details
    • Value Estimation by Request
      2,696 SF

      14729 Harper Ave

      RESTAURANT • 2,696 SF
      14729 Harper Ave, Detroit, MI 48224-2957
      View Details
    • Value Estimation by Request
      1,520 SF

      11601 Whittier St

      RESTAURANT • 1,520 SF
      11601 Whittier St, Detroit, MI 48224-1537
      View Details
    • Value Estimation by Request
      4,980 SF

      17420 Warren Ave

      RESTAURANT • 4,980 SF
      17420 Warren Ave, Detroit, MI 48224-2102
      View Details
    • Value Estimation by Request
      3,942 SF

      17137 Harper Ave

      RESTAURANT • 3,942 SF
      17137 Harper Ave, Detroit, MI 48224-1995
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,828 SF

      Restaurant/Banquet Hall Opportunity

      Restaurant with full kitchen, adaptable for various business ventures.
      11233 Morang Ave, Detroit, MI 48224
      View Details
    • Contact for pricing
      4,256 SF

      Former Bank Branch For Sale

      4,256 SF building with drive-thru and ample parking.
      12336 Morang Dr, Detroit, MI 48224
      View Details
    • $274,900
      2,955 SF

      Detroit Commercial Property on Kelly

      Renovated commercial property with high visibility and flexible potential uses.
      18901 Kelly Rd, Detroit, MI 48224
      View Details
    • $274,900
      2,955 SF

      Renovated Commercial Property on Kelly

      High-visibility commercial property with flexible uses and ample parking.
      18901 Kelly Rd, Detroit, MI 48224
      View Details
    • Contact for pricing
      2,860 SF

      Detroit Retail Opportunity For Sale

      2,860 SF retail property in Detroit, Michigan.
      18001 Kelly Rd, Detroit, MI 48224
      View Details
    • $800,000

      E Warren Ave Value-Add Package

      Liquor store plus two-unit building with upside potential.
      16830 E Warren Ave, Detroit, MI 48224
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      10,239 SF

      Retail Space Sublease Opportunity

      10,239 SF retail space available for sublease.
      17431 E Warren Ave, Detroit, MI 48224
      View Details
    • $3,000 /Mo

      Corner Lot Commercial Building For Rent

      Corner lot commercial building with excellent traffic exposure available for rent.
      11444 Whittier St, Detroit, MI 48224
      View Details
    • Contact for pricing

      Retail Strip Center on Morang

      Retail spaces with high visibility and easy highway access.
      12430-50 Morang Ave, Detroit, MI 48224
      View Details
    • $1,100 /Mo
      666 SF

      Detroit Retail Space on Warren

      Highly visible commercial space on Warren Avenue, Detroit, for lease.
      16911 E Warren Ave, Detroit, MI 48224
      View Details
    View Listing
    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.
    11233 Morang Dr
    Detroit, MI 48224
    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.
    Sign Up Successful!
    You now have access to more from Realmo!