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

    140 Milford Rd Milford, MI 48381-2741

    • Drug stores
    • 14,689 SF
    • 2.05 lot acres
    OFF-MARKET
    Last Sale
    Mar 29, 2024
    Value Estimations
    $3,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1215454
    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

    • FedEx OnSite / Mailing Service
    • Rashna Chinoy, RPH / Pharmacy
    • Deborah Kopinsky, RPH / Pharmacy
    • Western Union / Money Transfer Service
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy

    Property Details for 140 Milford Rd

    Year built
    2007
    Lot size
    2.05 lot acres
    Property size
    14,689 SF
    Zone code
    BI
    Property type
    Drug stores
    APN
    LM-16-10-376-023
    APU
    LM1610376023

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,859,000
      Market price range: $1.15M - $3.86M
      AI Estimate
      $3,187,000
      Market price range: $917k - $3.19M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,480,000
      Current use
      COMMERCIAL (GENERAL)
      $2,585,000
      Change: +4% Conversion: Easy
      RESTAURANT
      $2,545,000
      Change: +3% Conversion: Easy
      MEDICAL BUILDING
      $2,320,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6116
    Latitude
    42.5811
    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
    $59,499
    $0.00
    $0.00
    $1,490,510
    -
    $0.00
    $0.00
    $2,981,020

    Comparable in this City

    • Value Estimation
      $4,940,000
      41,240 SF

      31250 Milford Rd

      RETAIL STORES (PERSONAL SERVICES) • 41,240 SF
      31250 Milford Rd, Milford, MI 48381-3762
      View Details
    • Value Estimation by Request
      4,230 SF

      115 Liberty St

      FINANCIAL BUILDING • 4,230 SF
      115 Liberty St, Milford, MI 48381-1948
      View Details
    • Value Estimation
      $1,915,000
      13,706 SF

      414 Main St

      RETAIL STORES (PERSONAL SERVICES) • 13,706 SF
      414 Main St, Milford, MI 48381-1958
      View Details
    • Value Estimation by Request
      2,757 SF

      599 General Motors Rd

      FINANCIAL BUILDING • 2,757 SF
      599 General Motors Rd, Milford, MI 48381-2217
      View Details
    • Value Estimation
      $1,765,000
      11,200 SF

      750 General Motors Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,200 SF
      750 General Motors Rd, Milford, MI 48381-2220
      View Details
    • Value Estimation by Request
      3,302 SF

      130 Liberty St

      GROCERY, SUPERMARKET • 3,302 SF
      130 Liberty St, Milford, MI 48381-1955
      View Details

    Similar Nearby for Sale

    • $2,998,998
      11,800 SF

      Downtown Milford Retail Opportunity

      Prime Retail Building, 11,800 SF, Vacant
      640 Milford Rd, Milford, MI 48381
      View Details
    • Contact for pricing
      132 SF

      Grocery Anchored Shopping Center Space

      Retail space available in Milford's largest grocery-anchored shopping center.
      510-670 Highland Ave, Milford, MI 48381
      View Details
    • $700,000
      1.71 Acres

      Prime Milford Road Commercial Land

      1.71 Acres, Mixed-Use Potential
      815 Milford Milford, Milford Charter Township, MI 48381
      View Details
    • $3,900,000
      28.50 Acres

      Prime Milford Commercial Land

      28.5 Acres, Multi-Family Potential
      680 Oakland Ave, Milford Charter Township, MI 48381
      View Details
    • $1,095,000
      4,859 SF

      Mixed-Use Investment in Downtown Milford

      Mixed-use property with office space and residential units.
      206 E Liberty St, Milford, MI 48381
      View Details
    • Contact for pricing
      5,250 SF

      Milford Warehouse Space Available

      5,250 SF warehouse space for sale in Milford, MI.
      2100 Fyke Dr, Milford, MI 48381
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      11,800 SF

      Downtown Milford Medical Office

      11,800 SF Medical Office, Ample Parking
      640 Milford Rd, Milford, MI 48381
      View Details
    • $18 SF/Yr
      16,325 SF

      Milford Medical Office Suites Available

      Modern medical office space, flexible suites.
      1100 Corporate Office Dr, Milford, MI 48381
      View Details
    • New
      $14 SF/Yr
      8,573 SF

      Milford Office & Medical Suites

      Versatile office and medical suites for lease in Milford, MI.
      1181 N Milford Rd, Milford, MI 48381
      View Details
    • $21 SF/Yr
      3,500 SF

      Milford Medical Office Building

      Modern medical office, fully vacant, 3,500 sq ft.
      1050 Corporate Office Dr, Milford Charter Township, MI 48381
      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.
    140 Milford Rd
    Milford, MI 48381-2741
    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.