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    Property profile & analytics

    12207 Grand River Ave Detroit, MI 48204

    • Outlet malls
    • 8,489 SF
    • 0.75 lot acres
    For Sale
    View listing
    $1,220,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-5177075
    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

    • Family Dollar / Discount Store

    Property Details for 12207 Grand River Ave

    Year built
    2008
    Lot size
    0.75 lot acres
    Property size
    8,489 SF
    Zone code
    B4
    Property type
    Outlet malls
    APN
    18006828-35
    APU
    1800682835

    Description

    This exceptional investment opportunity presents a stabilized, single-tenant Family Dollar store located at 12207 Grand River Ave, Detroit, MI 48204. The 9,180 square foot building sits on a 0.75-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $106,920. The property features a NN+ lease with a credit-rated tenant, ensuring consistent cash flow. The lease commenced on December 5, 2005, and has a remaining term of approximately 2.1 years, with five 5-year renewal options, each including a 10% rent increase. Built in 2005, this property benefits from its location at the hard corner of Grand River Avenue and Birwood Avenue, offering multiple points of access. The asking price is $1,190,000, translating to a price per square foot of $140. The property's strong demographics, situated in a densely populated area just 15 minutes from downtown Detroit, further enhance its investment appeal. This is a rare opportunity to acquire a well-performing, low-risk retail investment in a prime Detroit location. The property is 100% occupied. Wayne County APN: 18006828-35.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $632,000
      Market price range: $253k - $963k
      AI Estimate
      $692,000
      Market price range: $261k - $1.02M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $585,000
      Current use
      COMMERCIAL (GENERAL)
      $775,000
      Change: +32% Conversion: Easy
      RESTAURANT
      $775,000
      Change: +32% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $645,000
      Change: +10% Conversion: Moderate
      MEDICAL BUILDING
      $535,000
      Change: -9% Conversion: Difficult
      OFFICE BUILDING
      $525,000
      Change: -11% Conversion: Easy
      AUTO REPAIR, GARAGE
      $515,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1629
    Latitude
    42.3781
    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
    $11,246
    $0.00
    $0.00
    $181,800
    -
    $0.00
    $0.00
    $363,600

    Comparable in this City

    • Value Estimation
      $510,000
      16,813 SF

      10090 Chicago

      WHOLESALE OUTLET, DISCOUNT STORE • 16,813 SF
      10090 Chicago, Detroit, MI 48204-2674
      View Details
    • Value Estimation
      $680,000
      9,050 SF

      10501 Joy Rd

      SHOPPING CENTER, STRIP CENTER • 9,050 SF
      10501 Joy Rd, Detroit, MI 48204-3017
      View Details
    • Value Estimation
      $1,870,000
      31,720 SF

      10735 Grand Riv Ave

      SHOPPING CENTER, STRIP CENTER • 31,720 SF
      10735 Grand Riv Ave, Detroit, MI 48204-2088
      View Details
    • Value Estimation
      $1,870,000
      24,563 SF

      12555 Grand Riv Ave

      SHOPPING CENTER, STRIP CENTER • 24,563 SF
      12555 Grand Riv Ave, Detroit, MI 48204-1867
      View Details
    • Value Estimation by Request
      6,000 SF

      10757 Grand Riv Ave

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      10757 Grand Riv Ave, Detroit, MI 48204-2088
      View Details
    • Value Estimation by Request
      10,000 SF

      8741 Joy Rd

      REGIONAL SHOPPING CENTER, MALL • 10,000 SF
      8741 Joy Rd, Detroit, MI 48204-3285
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      3,200 SF

      Redford Retail Space Available

      Retail spaces for lease, one currently leased to a daycare.
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      View Details
    • $6,000 /Mo
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      Detroit Industrial/Commercial Space Available

      Versatile industrial/commercial space for rent in Detroit, Michigan.
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      View Details
    • $2,600 /Mo

      Renovated Building Ready For Businesses

      Newly renovated building suitable for various businesses.
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      View Details
    • $14 SF/Yr
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      Retail Space Formerly a Salon

      Retail space available for rent, previously operated as a salon.
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      Renovated Apartment in Nardin Park

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      View Details
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    12207 Grand River Ave
    Detroit, MI 48204
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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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