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    Property profile & analytics

    11700 15th Mile Rd Sterling Heights, MI 48312-5102

    • Government properties
    • 3,400 SF
    • 0.81 lot acres
    OFF-MARKET
    Last Sale
    Dec 05, 2023
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1070501
    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

    • Government properties

    Property Details for 11700 15th Mile Rd

    Year built
    1968
    Lot size
    0.81 lot acres
    Property size
    3,400 SF
    Zone code
    C-1
    Property type
    Government properties
    APN
    10-10-35-101-003
    APU
    101035101003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $534,000
      Market price range: $337k - $725k
      AI Estimate
      $534,000
      Market price range: $337k - $725k

    • Alternative Use

      Use
      Estimation
      CENTRALLY ASSESSED
      $565,000
      Current use
      COMMERCIAL (GENERAL)
      $640,000
      Change: +13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sterling Heights
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0086
    Latitude
    42.5512
    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
    2022
    $15,092
    $0.00
    $0.00
    $274,500
    -
    $0.00
    $0.00
    $549,000

    Comparable in this City

    • Value Estimation
      $1,080,000
      5,069 SF

      36909 Schoenherr Rd

      CENTRALLY ASSESSED • 5,069 SF
      36909 Schoenherr Rd, Sterling Heights, MI 48312-3371
      View Details
    • Value Estimation
      $780,000
      3,654 SF

      35353 Dodge Park Rd

      CENTRALLY ASSESSED • 3,654 SF
      35353 Dodge Park Rd, Sterling Heights, MI 48312-3926
      View Details
    • Value Estimation
      $990,000
      5,088 SF

      33051 Schoenherr Rd

      CENTRALLY ASSESSED • 5,088 SF
      33051 Schoenherr Rd, Sterling Heights, MI 48312-6315
      View Details
    • Value Estimation
      $1,280,000
      5,995 SF

      35790 Van Dyke Ave

      CENTRALLY ASSESSED • 5,995 SF
      35790 Van Dyke Ave, Sterling Heights, MI 48312-3564
      View Details
    • Value Estimation
      $900,000
      2,489 SF

      35653 Dodge Park Rd

      CENTRALLY ASSESSED • 2,489 SF
      35653 Dodge Park Rd, Sterling Heights, MI 48312-3932
      View Details
    • Value Estimation
      $540,000
      2,893 SF

      36836 Van Dyke Ave

      CENTRALLY ASSESSED • 2,893 SF
      36836 Van Dyke Ave, Sterling Heights, MI 48312-2770
      View Details

    Similar Nearby for Sale

    • $2,700,000

      Freestanding Commercial Building For Sale

      Well-maintained, two-tenant commercial building available for purchase.
      7023 14 Mile Rd, Sterling Heights, MI 48312
      View Details
    • $1,300,000
      13.76 Acres

      Sterling Heights Commercial Land

      13.76 Acres, High-Visibility Retail Site
      37217 Utica Rd, Sterling Heights, MI 48312
      View Details
    • $250,000
      1.45 Acres

      Sterling Heights Vacant Land Parcel

      1.5-acre vacant land parcel in Sterling Heights, Michigan.
      13000 Plumbrook Rd, Sterling Heights, MI 48312
      View Details
    • $495,000
      1.31 Acres

      1.3 Acres Sterling Heights Commercial Land

      Prime 1.3-acre commercial lot, ideal for development.
      7700 15 Mile Rd, Sterling Heights, MI 48312
      View Details
    • $495,000

      Sterling Heights Commercial Land For Sale

      Commercial land with C-3 zoning near major retailers.
      7700 15 Mile Rd, Sterling Heights, MI 48312
      View Details
    • Contact for pricing

      Commercial Pad Site Opportunity

      Pad site for sale with drive-thru potential.
      37217 Utica Rd, Sterling Heights, MI 48312
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      4,472 SF

      Sterling Heights Office Space for Lease

      Modern Office Suites, 1,200-2,687 SF Available
      35427 Dodge Park Rd, Sterling Heights, MI 48312
      View Details
    • $14 SF/Yr
      6,557 SF

      Sterling Heights Medical Office Space

      1,450 SF Medical Office Suite Available
      9001 15 Mile Rd, Sterling Heights, MI 48312
      View Details
    • $4,125 /Mo

      Retail Space Near Golf Course

      Retail spaces available in plaza near Rambler Gold Course.
      38169 Utica Rd, Sterling Heights, MI 48312
      View Details
    • $8 SF/Yr
      31,333 SF

      Sterling Heights Retail Center

      High-traffic retail space available.
      34911 Van Dyke Ave, Sterling Heights, MI 48312
      View Details
    • Contact for pricing
      41,542 SF

      Value Priced Office Space

      2,400 SF office space with private entrance and restrooms.
      33782 Sterling Ponds Blvd, Sterling Heights, MI 48312
      View Details
    • $14 SF/Yr
      7,000 SF

      Sterling Heights Executive Office Space

      1,400 SF Endcap Retail/Office Suite
      33740-33804 Schoenherr Rd, Sterling Heights, MI 48312
      View Details

    Property Visit Statistics

    • Visits by month
      6.7k
    • Visitors by month
      5.3k
    • Avg Time on site
      10 min
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    Sterling Heights, MI 48312-5102
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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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