Add Listing
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

    1144 Rig St Commerce Township, MI 48390-2266

    • Manufacturing properties
    • 9,000 SF
    • 1.27 lot acres
    OFF-MARKET
    Last Sale
    Feb 02, 2023
    $850,000
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    4.6%
    Manufacturing properties
    Location Intelligence
    Property ID
    US43-1739631
    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

    • Manufacturing properties

    Property Details for 1144 Rig St

    Year built
    1986
    Lot size
    1.27 lot acres
    Property size
    9,000 SF
    Zone code
    II
    Property type
    Manufacturing properties
    APN
    E -17-27-302-001
    APU
    E1727302001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $975,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $745,000
      6.5%
      $685,000
      7%
      $635,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $751,000
      Market price range: $478k - $964k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $730,000
      Current use
      AUTO REPAIR, GARAGE
      $1,105,000
      Change: +51% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $840,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Commerce Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4961
    Latitude
    42.5452
    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
    $10,790
    $0.00
    $0.00
    $273,520
    -
    $0.00
    $0.00
    $547,040

    Comparable in this City

    • Value Estimation
      $520,000
      13,548 SF

      3170 Oakley Park Rd

      MANUFACTURING (LIGHT) • 13,548 SF
      3170 Oakley Park Rd, Commerce Township, MI 48390-1654
      View Details
    • Value Estimation
      $1,260,000
      14,230 SF

      4077 Pioneer Dr

      MANUFACTURING (LIGHT) • 14,230 SF
      4077 Pioneer Dr, Commerce Township, MI 48390-1354
      View Details
    • Value Estimation
      $745,000
      19,451 SF

      1010 Ww Maple Rd

      MANUFACTURING (LIGHT) • 19,451 SF
      1010 Ww Maple Rd, Walled Lake, MI 48390-2935
      View Details
    • Value Estimation by Request
      5,661 SF

      1977 Ew Maple Rd

      MANUFACTURING (LIGHT) • 5,661 SF
      1977 Ew Maple Rd, Walled Lake, MI 48390-3823
      View Details
    • Value Estimation
      $3,350,000
      87,674 SF

      1060 Ww Maple Rd

      MANUFACTURING (LIGHT) • 87,674 SF
      1060 Ww Maple Rd, Walled Lake, MI 48390-2935
      View Details
    • Value Estimation
      $2,020,000
      31,206 SF

      8700 Boulder Ct

      MANUFACTURING (LIGHT) • 31,206 SF
      8700 Boulder Ct, Commerce Township, MI 48390-4104
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,600 SF

      Pinewood Industrial Park Warehouse

      Warehouse with air conditioning and corporate office in Pinewood.
      3155 Dallavo Ct, Walled Lake, MI 48390
      View Details
    • Contact for pricing
      3,300 SF

      Highland Park Warehouse For Sale

      3,300 sqft warehouse available for purchase in Highland Park.
      17905 Chrysler Dr, Highland Park, MI 48390
      View Details
    • $105,000
      0.74 Acres

      Commerce Twp Vacant Wooded Lot

      Vacant 0.75-acre wooded lot in Commerce Twp, Walled Lake Schools.
      9255 Richardson Rd, Commerce Twp, MI 48390
      View Details
    • $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
      View Details
    • Contact for pricing

      Land in Haggerty Road Corridor

      Located in Haggerty Road Corridor Overlay District.
      and Haggerty Swc Oakley Park, Walled Lake, MI 48390
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      Traditional Dr, Walled Lake, MI 48390
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Units For Rent

      Industrial units available for rent with shared truckwell.
      3275-3285 Martin Rd, Commerce Township, MI 48390
      View Details
    • Contact for pricing

      Commerce Charter Township Warehouse Space

      220,000 sq ft warehouse with comprehensive security and logistics support.
      3000 N Pontiac Trl, Walled Lake, MI 48390
      View Details
    • Contact for pricing

      Industrial Building For Lease

      4,200 square foot multi-tenant industrial building available for lease.
      2032 Winner St, Walled Lake, MI 48390
      View Details
    • $8 SF/Yr
      49,252 SF

      Walled Lake Industrial Space Available

      Industrial property available for lease in Walled Lake, Michigan.
      1109 Decker Rd, Walled Lake, MI 48390
      View Details
    • 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
      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.
    1144 Rig St
    Commerce Township, MI 48390-2266
    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!