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    1340 11th Mile Rd Madison Heights, MI 48071-3806
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    Property profile & analytics

    1340 11th Mile Rd Madison Heights, MI 48071-3806

    View on Map
    • Warehouses
    • 6,880 SF
    • 0.40 lot acres
    Off-Market
    Last Sale Jul 7, 2023
    $525,000
    Property ID
    US43-1131339
    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.
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    6.9%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1340 11th Mile Rd

    Year built
    1957
    Lot size
    0.40 lot acres
    Property size
    6,880 SF
    Zone code
    M-1 LT
    Property type
    Warehouses
    APN
    44-25-24-206-038
    APU
    442524206038

    Description

    This single-tenant industrial property, located at 1340 E Eleven Mile Rd, Madison Heights, MI 48071, offers 6,880 square feet of versatile space ideal for warehouse, distribution, or light industrial uses. The building, constructed in 1957, sits on a 0.8-acre lot (34,848 sq ft) and features a 22-foot ceiling height. The warehouse area exceeds 5,300 square feet, complemented by approximately 1,600 square feet of office space and an additional 1,400 square feet of mezzanine space. Access is convenient with one drive-in door and two 14' x 12' pass-through overhead doors, plus a 10' x 9' overhead door. The property boasts 8 total parking spaces and convenient entrances on both sides of the building. The 159-foot frontage provides ample visibility. The building is classified as Class D and has 400 AMP power. Zoning is designated as Lite Industrial (APN: 25-24-206-038). This property presents a unique opportunity for businesses seeking a functional and well-situated industrial space in Madison Heights. The single-story building offers a straightforward layout and ample space for various operational needs. Its location provides easy access to major transportation routes, enhancing logistical efficiency.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $690,000
      6.5%
      $635,000
      7%
      $590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $539,000
      Market price range: $470k - $717k
      AI Estimate
      $539,000
      Market price range: $470k - $717k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $560,000
      Current use
      AUTO REPAIR, GARAGE
      $845,000
      Change: +50% Conversion: Easy
      OFFICE BUILDING
      $805,000
      Change: +44% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $640,000
      Change: +14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Oakland
    State
    Michigan
    Longitude
    -83.0917
    Latitude
    42.4905
    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
    $7,250
    $0.00
    $0.00
    $244,860
    -
    $0.00
    $0.00
    $489,720

    Comparable in this City

    • Value Estimation
      $930,000
      13,659 SF

      599 Mandoline Ave

      WAREHOUSE, STORAGE • 13,659 SF
      599 Mandoline Ave, Madison Heights, MI 48071-1402
      View Details
    • Value Estimation
      $3,745,000
      54,869 SF

      31100 Stephenson Hwy

      WAREHOUSE, STORAGE • 54,869 SF
      31100 Stephenson Hwy, Madison Heights, MI 48071-1638
      View Details
    • Value Estimation
      $630,000
      9,200 SF

      1729 10th Mile Rd, Unit 1743

      WAREHOUSE, STORAGE • 9,200 SF
      1729 10th Mile Rd, Madison Heights, MI 48071-4229
      View Details
    • Value Estimation by Request
      448 SF

      926 11th Mile Rd

      WAREHOUSE, STORAGE • 448 SF
      926 11th Mile Rd, Madison Heights, MI 48071-3104
      View Details
    • Value Estimation
      $2,915,000
      42,712 SF

      111 12th Mile Rd

      WAREHOUSE, STORAGE • 42,712 SF
      111 12th Mile Rd, Madison Heights, MI 48071-2570
      View Details
    • Value Estimation by Request
      1,736 SF

      701 Ajax Dr

      WAREHOUSE, STORAGE • 1,736 SF
      701 Ajax Dr, Madison Heights, MI 48071-2431
      View Details

    Similar Nearby for Sale

    • $815,000
      8,000 SF

      Madison Heights Light-Industrial Opportunity

      Light-industrial property with excellent access to I-696 and I-75.
      26071 Dequindre Rd, Madison Heights, MI 48071
      View Details
    • Contact for pricing
      12,844 SF

      Madison Heights Flex/Industrial Property

      Flex/Industrial property available for sale in Madison Heights, Michigan.
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      View Details
    • $3,500,000
      39,770 SF

      Madison Heights Flex Space Opportunity

      Flex space available in a fantastic location with ample parking.
      29401 Stephenson Hwy, Madison Heights, MI 48071
      View Details
    • $1,750,000
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      Madison Heights Industrial Property

      Industrial property featuring air conditioning, heavy power, and epoxy floors.
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    Similar Nearby for Lease

    • $8 SF/Yr
      43,200 SF

      Madison Heights Warehouse Space Available

      43,600 SF warehouse with truckwells and parking available for lease.
      1700 East Avis Dr, Madison Heights, MI 48071
      View Details
    • $9 SF/Yr
      18,105 SF

      Madison Heights Industrial Warehouse

      18,105 SF industrial warehouse available for sale.
      32301 Dequindre Rd, Madison Heights, MI 48071
      View Details
    • Contact for pricing

      Madison Heights Commercial Space Available

      Commercial flex, office, and warehouse space for lease.
      30773 Stephenson Hwy, Madison Heights, MI 48071
      View Details
    • $8 SF/Yr
      10,184 SF

      Madison Heights Warehouse Space Available

      Industrial warehouse space available for lease in Madison Heights.
      31725 Stephenson Hwy, Madison Heights, MI 48071
      View Details
    • $6,500 /Mo

      Madison Heights Warehouse or Office

      10,000 SF space for warehouse, office, or combination.
      1100 East Mandoline 300, Madison Heights, MI 48071
      View Details
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    Madison Heights, MI 48071-3806
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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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