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    14631 Plymouth Rd Detroit, MI 48227
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    Property profile & analytics

    14631 Plymouth Rd, Detroit, MI 48227

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    • Commercial real estate
    Off-Market
    Property ID
    US43-1516537
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 14631 Plymouth Rd

    Property type
    Commercial real estate
    APN
    22I004986C90

    Description

    This exceptional multifamily investment opportunity comprises three well-maintained apartment buildings totaling 52 units, strategically located in Detroit, MI. The portfolio boasts a current 100% occupancy rate and a strong net operating income (NOI) of $154,945, yielding a 7.50% cap rate. The buildings, consisting of a mix of one and two-bedroom units across three structures (a 27-unit three-story brick building, a 17-unit two-story brick building, and an 8-unit one-story brick building), are situated near major roadways including I-96 and Greenfield Road, offering convenient access to shopping and schools. The current below-market rents present a significant value-add opportunity for an investor to increase profitability through effective property management and rental rate adjustments. The property is offered at $2,065,900, representing a price per unit of $39,728.85. The buildings are zoned for commercial use and offer 15 parking spaces per 1,000 square feet. This fee-simple ownership presents a compelling investment prospect with substantial potential for increased returns. The property's strong cash flow, high occupancy, and below-market rents combine to create a rare opportunity in the Detroit multifamily market. The buildings are well-built and maintained, providing a solid foundation for future growth and profitability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.188424
    Latitude
    42.3726071

    Comparable in this City

    • $499,000
      4,467 SF

      Detroit Multifamily Investment Opportunity

      High-performing 10-unit apartment building with development potential.
      12927 Plymouth Rd, Detroit, MI 48227
      View Details
    • $1,390,000
      Pending

      15-Unit Multifamily Investment Opportunity

      Fifteen-unit rental property with recent upgrades, fully leased.
      15401 Meyers Rd, Detroit, MI 48227
      View Details
    • $499,000

      Profitable 10-Unit Apartment Building

      Fully leased apartment building with parking lots for sale.
      12927 Plymouth Rd, Detroit, MI 48227
      View Details

    Similar Nearby for Sale

    • $499,000
      4,467 SF

      Detroit Multifamily Investment Opportunity

      High-performing 10-unit apartment building with development potential.
      12927 Plymouth Rd, Detroit, MI 48227
      View Details
    • $1,390,000
      Pending

      15-Unit Multifamily Investment Opportunity

      Fifteen-unit rental property with recent upgrades, fully leased.
      15401 Meyers Rd, Detroit, MI 48227
      View Details
    • $499,000

      Profitable 10-Unit Apartment Building

      Fully leased apartment building with parking lots for sale.
      12927 Plymouth Rd, Detroit, MI 48227
      View Details
    • Contact for pricing

      Detroit Townhome Style Apartment Complex

      15-unit townhome style apartment complex for sale in Detroit.
      15401 Meyers Rd, Detroit, MI 48227
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo

      Industrial Land For Lease

      High-traffic location near I-96 with redevelopment potential.
      13633 Grand River Ave, Detroit, MI 48227
      View Details
    • Contact for pricing
      30,000 SF

      Equipped Automotive Repair Shop For Lease

      Fully equipped collision and automotive repair shop on Greenfield Rd.
      10000 Greenfield Rd, Detroit, MI 48227
      View Details
    • $4 SF/Yr
      44,000 SF

      Schaefer Hwy Industrial Building

      44,000 SF Detroit Industrial Space
      14225 Schaefer Hwy, Detroit, MI 48227
      View Details
    • $15 SF/Yr
      14,762 SF

      Schaefer Square Plaza Retail Space

      High-traffic retail space, Detroit. Excellent visibility.
      13427 Schaefer Hwy, Detroit, MI 48227
      View Details
    • $1,000 /Mo
      12,617 SF

      Detroit Office Space for Rent

      Office space with Detroit address, utilities included, kitchen, bathroom.
      15735 Schaefer Rd, Detroit, MI 48227
      View Details
    • $3,305 /Mo

      Prime Retail Suite For Lease

      3,000 SF retail suite in a high-traffic Detroit location.
      13427 Schaefer Hwy, Detroit, MI 48227
      View Details
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    Detroit, MI 48227
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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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