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

    1234 Porter St Detroit, MI 48226-2407

    • Medical offices
    • 5,048 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Apr 25, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1690299
    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

    • Robert R. Frank Student Run Free Clinic / Free Clinic
    • St Frances Cabrini Clinic / Medical Clinic / Doctor
    • Sisters of St Joseph Inc / Religious Organization
    • Liisa Harding / Nurse Practitioner
    • Dr. Susan P. Schooley, MD / Family Practice Physician

    Property Details for 1234 Porter St

    Year built
    1970
    Lot size
    0.31 lot acres
    Property size
    5,048 SF
    Zone code
    R3
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    06000237.
    APU
    6000237

    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
    -83.0612
    Latitude
    42.3295
    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
    $100
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      30,817 SF

      600 Woodbridge St

      DENTAL BUILDING • 30,817 SF
      600 Woodbridge St, Detroit, MI 48226-4364
      View Details
    • Value Estimation by Request
      21,600 SF

      1442 Brush St

      Lifestyle centers • 21,600 SF
      1442 Brush St, Detroit, MI 48226
      View Details
    • Value Estimation by Request
      979,489 SF

      500 Woodward Ave

      Office Properties & Spaces • 979,489 SF
      500 Woodward Ave, Royal Oak, MI 48226
      View Details
    • Value Estimation by Request
      24,380 SF

      1200 Washington Blvd, Unit 1

      OFFICE BUILDING • 24,380 SF
      1200 Washington Blvd, Detroit, MI 48226-1808
      View Details
    • Value Estimation by Request
      52,489 SF

      48 Adams Ave

      OFFICE BUILDING • 52,489 SF
      48 Adams Ave, Detroit, MI 48226-1603
      View Details
    • Value Estimation by Request
      209,268 SF

      600 Randolph St

      OFFICE BUILDING • 209,268 SF
      600 Randolph St, Detroit, MI 48226-2817
      View Details

    Similar Nearby for Sale

    • $7,000,000

      Library Street Mixed-Use Building

      Fully occupied mixed-use building in a prime Detroit location.
      1250 Library St, Detroit, MI 48226
      View Details
    • Contact for pricing
      15,970 SF

      Detroit Office Building For Sale

      Office building with 15,970 square feet of space.
      625 Shelby St, Detroit, MI 48226
      View Details
    • $2,240,000
      14,300 SF

      Broadway Building: Detroit Office Space

      Prime Detroit Office, Value-Add Opportunity
      1307 Broadway St, Detroit, MI 48226
      View Details
    • $4,500,000
      96,600 SF

      Detroit Office Building For Sale

      Office building with 96,600 square feet of space.
      623 Cass Ave, Detroit, MI 48226
      View Details
    • $1,899,000
      7,500 SF

      Corktown Detroit Multifamily Portfolio

      9-Unit Redevelopment Opportunity in Corktown
      1450 6Th St, Detroit, MI 48226
      View Details
    • $1,750,000

      Detroit Land Package For Sale

      Commercial land package available in Detroit, Michigan.
      1450 6Th St, Detroit, MI 48226
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      40,641 SF

      Iconic Detroit Office Space

      Capitol Park gem: Retail & office suites available.
      119 State St, Detroit, MI 48226
      View Details
    • Contact for pricing
      345,728 SF

      Downtown Detroit Executive Suites

      Prestigious Detroit office space for lease. Multiple suites available.
      719 Griswold St, Detroit, MI 48226
      View Details
    • Contact for pricing
      740 SF

      Midtown Detroit Retail/Office Space

      Retail, restaurant, or office space in Midtown Detroit available.
      5700 Woodward Ave, Detroit, MI 48226
      View Details
    • $15 SF/Yr
      13,195 SF

      Office Space Available For Lease

      Office space available for lease, totaling 13,195 square feet.
      333 West Fort St, Detroit, MI 48226
      View Details
    • Contact for pricing
      3,696 SF

      Historic District Office Space Available

      3,696 SF floor plates in Broadway Historic District.
      277 Gratiot Ave, Detroit, MI 48226
      View Details
    • $17 SF/Yr
      1,295,089 SF

      Downtown Detroit Executive Suites

      Prestigious Class A office space, flexible layouts.
      0 1 Campus Martius, Detroit, MI 48226
      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.
    1234 Porter St
    Detroit, MI 48226-2407
    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.