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

    1151 Grand Blvd Detroit, MI 48207-1930

    • Retail space
    • 1,306 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1532477
    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

    • Retail space

    Property Details for 1151 Grand Blvd

    Year built
    1945
    Lot size
    0.05 lot acres
    Property size
    1,306 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    15007952.
    APU
    15007952

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0192
    Latitude
    42.3734
    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
    $1,071
    $0.00
    $0.00
    $29,300
    -
    $0.00
    $0.00
    $58,600

    Comparable in this City

    • Value Estimation by Request
      2,900 SF

      Sec Vernor Hwy & Dragoon St

      Individual retail properties • 2,900 SF
      0 Sec Vernor Hwy & Dragoon St, Detroit, MI 48207
      View Details
    • Value Estimation by Request
      5,678 SF

      6340 Jefferson Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,678 SF
      6340 Jefferson Ave, Detroit, MI 48207-4318
      View Details
    • Value Estimation by Request
      4,068 SF

      6330 Jefferson Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,068 SF
      6330 Jefferson Ave, Detroit, MI 48207-4318
      View Details
    • Value Estimation by Request
      10,175 SF

      6466 Jefferson Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,175 SF
      6466 Jefferson Ave, Detroit, MI 48207-4310
      View Details
    • Value Estimation by Request
      2,992 SF

      1494 Gratiot Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,992 SF
      1494 Gratiot Ave, Detroit, MI 48207-2723
      View Details
    • Value Estimation
      $550,000
      8,532 SF

      2700 Gratiot Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,532 SF
      2700 Gratiot Ave, Detroit, MI 48207-2493
      View Details

    Similar Nearby for Sale

    • $350,000

      Eastern Market Retail Redevelopment Opportunity

      Retail or restaurant redevelopment opportunity in the heart of Eastern Market.
      1473 Winder St, Detroit, MI 48207
      View Details
    • $950,000

      Commercial Space Near Detroit Riverwalk

      Commercial space near Detroit Riverwalk, suitable for multiple uses.
      2987 Franklin St, Detroit, MI 48207
      View Details
    • $950,000

      Eastern Market Retail Investment Opportunity

      Fully occupied retail building in the heart of Eastern Market.
      2510 Market St, Detroit, MI 48207
      View Details
    • $1,295,000

      Eastern Market Redevelopment Opportunity

      Two-story brick building in Eastern Market with redevelopment potential.
      1350 Division St, Detroit, MI 48207
      View Details
    • $1,750,000
      4,807 SF

      Rivertown Detroit Retail/Restaurant Opportunity

      4,807 SF building in Detroit's Rivertown Warehouse District.
      2701 E Jefferson Ave, Detroit, MI 48207
      View Details
    • $425,000

      Eastern Market Storefront Opportunity

      2,243 SF building ideal for creative office or retail.
      1480 Gratiot Ave, Detroit, MI 48207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,900 SF

      Detroit Retail Space - Vernor Hwy

      High-visibility retail space available in Detroit.
      0 Sec Vernor Hwy & Dragoon St, Detroit, MI 48207
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Downtown Detroit

      3,000 SF retail space with high visibility and accessibility.
      1404 E Jefferson Ave, Detroit, MI 48207
      View Details
    • Contact for pricing
      1,689 SF

      Freestanding Retail Redevelopment Opportunity

      Freestanding retail building with redevelopment potential near Belle Isle.
      6929-6931 E Jefferson Ave, Detroit, MI 48207
      View Details
    • $12 SF/Yr
      60,000 SF

      Eastern Market Retail Gem

      Historic Detroit storefront, multiple suites available
      1551 Winder St, Detroit, MI 48207
      View Details
    • $24 SF/Yr
      4,000 SF

      Retail Space in Gratiot Square

      Retail space available in Gratiot Square Plaza.
      3641 Gratiot Ave, Detroit, MI 48207
      View Details
    • Contact for pricing
      19,430 SF

      Restored Mixed-Use Building in Eastern Market

      Renovated mixed-use building with retail, office, and live-work spaces.
      1400 Gratiot Ave, Detroit, MI 48207
      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.
    1151 Grand Blvd
    Detroit, MI 48207-1930
    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.