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

    118 Lehigh Ave Pontiac, MI 48340

    • Super regional malls
    • 53,322 SF
    • 5.17 lot acres
    OFF-MARKET
    Last Sale
    Apr 21, 2020
    $2,300,000
    Value Estimations
    $2,740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0288315
    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

    • Super regional malls

    Property Details for 118 Lehigh Ave

    Year built
    1970
    Lot size
    5.17 lot acres
    Property size
    53,322 SF
    Zone code
    BI
    Property type
    Super regional malls
    APN
    64-14-17-201-031
    APU
    641417201031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,840,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,443,000
      Market price range: $1.25M - $3.78M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $4,315,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Pontiac
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2989
    Latitude
    42.6765
    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
    $35
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      27,110 SF

      1249 Baldwin Ave

      REGIONAL SHOPPING CENTER, MALL • 27,110 SF
      1249 Baldwin Ave, Pontiac, MI 48340-1909
      View Details
    • Value Estimation by Request
      26,478 SF

      1821 Perry St

      REGIONAL SHOPPING CENTER, MALL • 26,478 SF
      1821 Perry St, Pontiac, MI 48340-2234
      View Details
    • Value Estimation by Request
      1,204 SF

      50 Walton Blvd

      REGIONAL SHOPPING CENTER, MALL • 1,204 SF
      50 Walton Blvd, Pontiac, MI 48340-1277
      View Details
    • Value Estimation by Request
      45,298 SF

      1101 Walton Blvd

      REGIONAL SHOPPING CENTER, MALL • 45,298 SF
      1101 Walton Blvd, Pontiac, MI 48340-1591
      View Details
    • Value Estimation by Request
      62,440 SF

      775 Baldwin Ave

      REGIONAL SHOPPING CENTER, MALL • 62,440 SF
      775 Baldwin Ave, Pontiac, MI 48340-2576
      View Details
    • Value Estimation by Request
      20,000 SF

      325 Walton Blvd

      REGIONAL SHOPPING CENTER, MALL • 20,000 SF
      325 Walton Blvd, Pontiac, MI 48340-1042
      View Details

    Similar Nearby for Sale

    • $699,900
      3,450 SF

      Pontiac Retail Investment Opportunity

      Prime location, 3,450 sq ft, high visibility.
      900 Joslyn Ave, Pontiac, MI 48340
      View Details
    • $689,900
      3,450 SF

      Pontiac Retail Opportunity For Sale

      Former bank building with drive-thru and large parking lot.
      900 Joslyn Ave, Pontiac, MI 48340
      View Details
    • $225,000
      1,128 SF

      Versatile Commercial Property in Pontiac

      C-1 zoned property near Great Lakes Crossing and Downtown Pontiac.
      1571 Baldwin Ave, Pontiac, MI 48340
      View Details
    • $95,000

      Prime Pontiac Commercial Land

      6,000 SF lot, ideal for business. $95,000.
      104 Walton Blvd, Pontiac, MI 48340
      View Details
    • Contact for pricing
      10,000 SF

      Clean Shop Space Available

      10,000 SF corner unit with 18' clearance.
      Pontiac, MI 48340
      View Details
    • $295,000

      Land with High Visibility

      Land with utilities available and great visibility from Telegraph Road.
      392 W Walton Blvd, Pontiac, MI 48340
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,510 SF

      Pontiac Retail Space For Lease

      Well-maintained retail space available for lease in Pontiac, Michigan.
      1821-1859 Perry St, Pontiac, MI 48340
      View Details
    • $3,000 /Mo
      1,200 SF

      Pontiac Retail Spaces Available

      Retail spaces for rent in Pontiac, Michigan.
      325 W Walton Blvd, Pontiac, MI 48340
      View Details
    • Contact for pricing

      Walton Blvd Retail Land Opportunity

      Prime 1-Acre Retail Site, Oakland County
      618 Walton Blvd, Pontiac, MI 48340
      View Details
    • $6 SF/Yr
      28,000 SF

      Highwood Road Executive Offices

      Pontiac, MI Executive Suites Available
      1733-1749 Highwood Rd, Pontiac, MI 48340
      View Details
    • Contact for pricing

      Land in High-Traffic Area

      Land with sewer and water access, suitable for apartments.
      713 Walton Blvd, Pontiac, MI 48340
      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.
    118 Lehigh Ave
    Pontiac, MI 48340
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.