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    Property profile & analytics

    1450 13th Mile Rd, Unit 1460 Madison Heights, MI 48071-2008

    • Grocery and convenience stores
    • 5,932 SF
    • 0.52 lot acres
    OFF-MARKET
    Last Sale
    Jul 22, 2025
    $450,000
    Value Estimations
    $625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0616958
    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

    • Grocery and convenience stores

    Property Details for 1450 13th Mile Rd

    Year built
    1959
    Lot size
    0.52 lot acres
    Property size
    5,932 SF
    Zone code
    B-1 LOC
    Property type
    Grocery and convenience stores
    APN
    44-25-02-377-004
    APU
    442502377004

    Description

    This exceptional retail property, located at 1450-1460 West 13 Mile Road in Madison Heights, Michigan, presents a unique opportunity for a discerning business. The property boasts a total building area of 5,932 square feet, currently entirely vacant and ready for immediate occupancy. The building is classified as retail space, suitable for a variety of commercial uses including restaurants and offices. The flexible layout allows for customization to meet specific business needs. Situated on a 0.52-acre lot, the property offers ample space and visibility. The address is 1450 W 13 Mile Rd, Madison Heights, MI 48071. The property's location in Madison Heights provides excellent access to major roadways and a thriving local community. This is a multi-tenant building, offering potential for expansion or collaboration with other businesses. The entire 5,932 square feet is available for lease, providing a significant opportunity for a business seeking a substantial and well-located space. The property is ready for immediate occupancy, allowing for a quick start to operations. This is an ideal location for businesses seeking high visibility and convenient access for customers. The property's size and layout offer flexibility for a variety of commercial uses. Interested parties are encouraged to inquire further to explore the possibilities this prime retail space offers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $719,000
      Market price range: $370k - $1.29M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,000,000
      Current use
      RESTAURANT
      $1,025,000
      Change: +3% Conversion: Easy
      MEDICAL BUILDING
      $935,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison Heights
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1206
    Latitude
    42.52
    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
    $14,383
    $0.00
    $0.00
    $297,250
    -
    $0.00
    $0.00
    $594,500

    Comparable in this City

    • Value Estimation
      $580,000
      2,418 SF

      26461 Dequindre Rd

      GROCERY, SUPERMARKET • 2,418 SF
      26461 Dequindre Rd, Madison Heights, MI 48071-4903
      View Details
    • Value Estimation
      $625,000
      3,949 SF

      1052 Lincoln Ave

      GROCERY, SUPERMARKET • 3,949 SF
      1052 Lincoln Ave, Madison Heights, MI 48071-4061
      View Details
    • Value Estimation by Request
      3,500 SF

      26122 John R Rd

      GROCERY, SUPERMARKET • 3,500 SF
      26122 John R Rd, Madison Heights, MI 48071-3648
      View Details
    • Value Estimation by Request
      1,762 SF

      29011 Stephenson Hwy

      GROCERY, SUPERMARKET • 1,762 SF
      29011 Stephenson Hwy, Madison Heights, MI 48071-2313
      View Details
    • Value Estimation
      $670,000
      2,800 SF

      28945 John R Rd

      GROCERY, SUPERMARKET • 2,800 SF
      28945 John R Rd, Madison Heights, MI 48071-2848
      View Details
    • Value Estimation by Request
      2,531 SF

      31752 John R Rd

      GROCERY, SUPERMARKET • 2,531 SF
      31752 John R Rd, Madison Heights, MI 48071-4655
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,500 SF

      Madison Heights Retail Storefront

      3,500 SF Freestanding Building, High Traffic
      535 Fourteen Mile Rd, Madison Heights, MI 48071
      View Details
    • Contact for pricing
      3,500 SF

      Madison Heights Freestanding Retail Building

      3,500 SF building near I-75 and Oakland Mall.
      535 W 14 Mile Rd, Madison Heights, MI 48071
      View Details
    • $850,000
      1.05 Acres

      Madison Heights Commercial/Industrial Opportunity

      1.05 acre corner lot with potential high rise building.
      30728 John R Rd, Madison Heights, MI 48071
      View Details
    • $295,000
      3,360 SF

      Retail Property with City Parking

      Retail property offering many potential uses with city parking.
      25402 John R Rd, Madison Heights, MI 48071
      View Details
    • $200,000
      988 SF

      Office/Studio with Additional Parking

      Freestanding office/studio with parking lot in Madison Heights.
      649 E Twelve Mile Rd, Madison Heights, MI 48071
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    • $2,350,000
      5,852 SF

      Madison Heights Commercial Opportunity

      5,852 SF vacant commercial space in high-traffic area.
      451 W Fourteen Mile Rd, Madison Heights, MI 48071
      View Details

    Similar Nearby for Lease

    • $999 /Mo

      Retail Space with Building Signage

      Retail units available with easy I-75 access and signage.
      513 W 11 Mile Rd, Madison Heights, MI 48071
      View Details
    • $888 /Mo

      Retail Space Near I-75

      Retail units available with building signage and I-75 access.
      515 W 11 Mile Rd, Madison Heights, MI 48071
      View Details
    • $14,000 /Mo
      5,932 SF

      Madison Heights Commercial Lease Opportunity

      Multi-tenant space ideal for restaurant, food hall, or mixed-use.
      1450 W Thirteen Mile Rd, Madison Heights, MI 48071
      View Details
    • $13 SF/Yr
      2,200 SF

      Madison Heights Retail Space Available

      Retail space in Madison Heights near major retailers.
      28707 Dequindre Rd, Madison Heights, MI 48071
      View Details
    • $20 SF/Yr
      1,340 SF

      Retail Space in Madison Heights

      Retail space for lease in a high-traffic Madison Heights location.
      28838 John R Rd, Madison Heights, MI 48071
      View Details
    • $20 SF/Yr
      4,560 SF

      Madison Heights Retail Space

      Freestanding Retail Building, High Traffic Area
      32600 John R Rd, Madison Heights, MI 48071
      View Details
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    Madison Heights, MI 48071-2008
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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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