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    11500 Joseph Campau St Hamtramck, MI 48212-3051
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    Property profile & analytics

    11500 Joseph Campau St Hamtramck, MI 48212-3051

    View on Map
    • Showrooms
    • 24,000 SF
    • 0.28 lot acres
    Off-Market
    Property ID
    US43-1826258
    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
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Showrooms

    Property Details for 11500 Joseph Campau St

    Year built
    1929
    Lot size
    0.28 lot acres
    Property size
    24,000 SF
    Property type
    Showrooms
    APN
    41 007 04 0033 300
    APU
    41007040033300

    Description

    This unique 24,000 square foot industrial building, constructed in 1929, presents a remarkable investment opportunity in the vibrant Hamtramck, MI, neighborhood. Situated on a 0.28-acre lot along the bustling Joseph Campau corridor, this property boasts a rich history as a former auto sales center. Currently configured as a showroom and manufacturing space for a boutique furniture company, the building offers exceptional versatility. The first floor features a spacious showroom with original terrazzo/concrete floors and impressive 12-foot ceilings, complemented by private offices. The second floor provides ample workspace for manufacturing, along with a lunchroom and additional offices. A significant advantage is the multi-level parking deck extending to the roof, providing ample parking for staff and clients. Located in the densely populated city of Hamtramck, a melting pot of diverse cultures, this property benefits from its proximity to a variety of popular restaurants, bars, and shops. Hamtramck's strategic location, bordering Detroit, ensures excellent access to major transportation routes and a large workforce. This property is priced at $1,199,000 and offers significant potential for a variety of uses. The combination of historical character, substantial square footage, and prime location makes this an exceptional opportunity for a discerning investor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,090,000
      Market price range: $1.09M - $4.69M
      AI Estimate
      $1,090,000
      Market price range: $1.09M - $4.69M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hamtramck
    County
    Wayne
    State
    Michigan
    Longitude
    -83.061
    Latitude
    42.402
    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
    $15,165
    $0.00
    $0.00
    $218,300
    -
    $0.00
    $0.00
    $436,600

    Comparable in this City

    • Value Estimation by Request
      6,835 SF

      5101 Davison St

      SHOW ROOM, WAREHOUSE • 6,835 SF
      5101 Davison St, Hamtramck, MI 48212-1228
      View Details
    • Value Estimation by Request
      4,059 SF

      9542-9552 Joseph Campau St

      Individual retail properties • 4,059 SF
      9542-9552 Joseph Campau St, Hamtramck, MI 48212
      View Details
    • Value Estimation by Request
      2,489 SF

      5946 Mcnichols Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,489 SF
      5946 Mcnichols Rd, Detroit, MI 48212-1807
      View Details
    • Value Estimation by Request
      1,632 SF

      10317 Conant St

      RETAIL STORES (PERSONAL SERVICES) • 1,632 SF
      10317 Conant St, Hamtramck, MI 48212-3143
      View Details
    • Value Estimation by Request
      2,313 SF

      9809 Conant St

      RETAIL STORES (PERSONAL SERVICES) • 2,313 SF
      9809 Conant St, Hamtramck, MI 48212-3308
      View Details
    • Value Estimation by Request
      1,650 SF

      4725 Davison St

      RETAIL STORES (PERSONAL SERVICES) • 1,650 SF
      4725 Davison St, Hamtramck, MI 48212-1748
      View Details

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    Similar Nearby for Lease

    • $7,500 /Mo

      Hamtramck Commercial Space For Rent

      12,000 sq ft building suitable for various commercial uses.
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    Hamtramck, MI 48212-3051
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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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