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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    12888 Reeck Rd Southgate, MI 48195-2270

    • Hotels
    • 41,520 SF
    • 2.50 lot acres
    OFF-MARKET
    Last Sale
    Jun 12, 2024
    $3,000,000
    Value Estimations
    $3,345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0735910
    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

    • La Quinta Inn by Wyndham Detroit Southgate / Hotel / Inn
    • Norwood Inn and Suites Detroit / Hotel
    • La Quinta - Southgate / Hotel

    Property Details for 12888 Reeck Rd

    Year built
    1990
    Lot size
    2.50 lot acres
    Property size
    41,520 SF
    Zone code
    M-1 LIGHT IND
    Property type
    Hotels
    APN
    53 004 99 0005 702
    APU
    53004990005702

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,688,000
      Market price range: $1.28M - $4.05M
      AI Estimate
      $3,688,000
      Market price range: $1.28M - $4.05M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,580,000
      Current use
      COMMERCIAL (GENERAL)
      $4,560,000
      Change: +77% Conversion: Difficult
      RESTAURANT
      $4,300,000
      Change: +67% Conversion: Difficult
      OFFICE BUILDING
      $4,030,000
      Change: +56% Conversion: Difficult
      MEDICAL BUILDING
      $3,910,000
      Change: +52% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $3,305,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $3,160,000
      Change: +23% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Southgate
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2262
    Latitude
    42.2146
    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
    $126,311
    $0.00
    $0.00
    $1,353,200
    -
    $0.00
    $0.00
    $2,706,400

    Comparable in this City

    • Value Estimation
      $6,845,000
      70,210 SF

      13555 Prechter Blvd

      HOTEL • 70,210 SF
      13555 Prechter Blvd, Southgate, MI 48195-0127
      View Details
    • Value Estimation
      $6,265,000
      64,220 SF

      13333 Heritage Pl

      HOTEL • 64,220 SF
      13333 Heritage Pl, Southgate, MI 48195-3239
      View Details
    • Value Estimation by Request
      188 SF

      13222 Dix Toledo Rd

      MOTEL • 188 SF
      13222 Dix Toledo Rd, Southgate, MI 48195-1848
      View Details
    • Value Estimation by Request
      9,445 SF

      12269 Dix Toledo Rd

      MOTEL • 9,445 SF
      12269 Dix Toledo Rd, Southgate, MI 48195-1704
      View Details
    • Value Estimation by Request
      3,875 SF

      14035 Dix Toledo Rd

      MOTEL • 3,875 SF
      14035 Dix Toledo Rd, Southgate, MI 48195-2504
      View Details
    • Value Estimation
      $3,315,000
      44,211 SF

      18777 Northline Rd

      MOTEL • 44,211 SF
      18777 Northline Rd, Southgate, MI 48195-2262
      View Details

    Similar Nearby for Sale

    • $699,000

      Profitable Motel Investment Opportunity

      15-unit motel with manager's apartment, high cap rate.
      13450 Dix Toledo Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      3,800 SF

      Southgate Executive Office Space

      Prime Retail/Office, 3800 SF, I-75 Access
      14328 Northline Rd, Southgate, MI 48195
      View Details
    • $50,000
      0.18 Acres

      Northline Road Commercial Land Parcel

      0.18-acre Southgate commercial lot, $50,000
      0 Northline Rd, Southgate, MI 48195
      View Details
    • $175,000
      1,164 SF

      Turnkey Burger Restaurant Opportunity

      High-traffic burger restaurant with $750K revenue in year one.
      1111 No Name Rd, Southgate, MI 48195
      View Details
    • Contact for pricing
      0.19 Acres

      Residential Lot in Southgate

      Vacant lot ready for building in a Southgate neighborhood.
      13905 Brest St, Southgate, MI 48195
      View Details
    • $94,000

      Triangular Lot at Reeck Road

      Over one acre triangular lot at Reeck and Dix.
      0000 Reeck Rd, Allen Park, MI 48195
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      24,912 SF

      14605 Northline Rd

      Restaurants • 24,912 SF
      14605 Northline Rd, Southgate, MI 48195
      View Details
    • $187 SF/Yr
      1,000 SF

      Southgate Retail Space: Prime Location

      1,000 sq ft Retail Space - Immediate Occupancy
      13256 Northline Rd, Southgate, MI 48195
      View Details
    • $1,250 /Mo

      Eureka Road Retail/Office Space

      Retail or office space available for lease on Eureka.
      18708 Eureka Rd, Southgate, MI 48195
      View Details
    • Contact for pricing

      Southgate Commercial Space Available

      Prime commercial property in Southgate, Michigan, suitable for various uses.
      1 Heritage Pl, Southgate, MI 48195
      View Details
    • Contact for pricing

      Office Space For Rent

      Office space available for lease in Southgate, Michigan.
      Southgate, MI 48195
      View Details
    • Contact for pricing
      1,000 SF

      Southgate Office Space For Rent

      Office space for rent in a high-traffic Southgate location.
      13424 Dix Toledo Rd, Southgate, MI 48195
      View Details
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    Southgate, MI 48195-2270
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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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