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    Property profile & analytics

    149 Grand Blvd Detroit, MI 48216-1677

    • Motels
    • 7,299 SF
    • 0.28 lot acres
    OFF-MARKET
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1833550
    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

    • Motels

    Property Details for 149 Grand Blvd

    Year built
    1956
    Lot size
    0.28 lot acres
    Property size
    7,299 SF
    Zone code
    M4
    Property type
    Motels
    APN
    14000029.
    APU
    14000029

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $576,000
      Market price range: $225k - $712k
      AI Estimate
      $576,000
      Market price range: $225k - $712k

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $455,000
      Current use
      COMMERCIAL (GENERAL)
      $665,000
      Change: +47% Conversion: Difficult
      RESTAURANT
      $665,000
      Change: +47% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $555,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $505,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $460,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $450,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0835
    Latitude
    42.3146
    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
    2020
    $13,224
    $0.00
    $0.00
    $211,700
    -
    $0.00
    $0.00
    $423,400

    Comparable in this City

    • Value Estimation
      $39,930,000
      409,438 SF

      1329 Temple St

      HOTEL • 409,438 SF
      1329 Temple St, Detroit, MI 48216
      View Details
    • Value Estimation
      $1,970,000
      45,266 SF

      2250 14th St

      HOTEL • 45,266 SF
      2250 14th St, Detroit, MI 48216-1502
      View Details
    • Value Estimation by Request
      170,000 SF

      3401 Martin Rd

      Flex space • 170,000 SF
      3401 Martin Rd, Detroit, MI 48216
      View Details
    • Value Estimation by Request
      0.13 Acres

      3307 Howard St

      INDUSTRIAL - VACANT LAND • 0.13 Acres
      3307 Howard St, Detroit, MI 48216
      View Details
    • Value Estimation by Request
      0.98 Acres

      2130 Howard St

      INDUSTRIAL - VACANT LAND • 0.98 Acres
      2130 Howard St, Detroit, MI 48216-1822
      View Details
    • Value Estimation by Request
      0.06 Acres

      2540 Harrison St

      VACANT COMMERCIAL LAND • 0.06 Acres
      2540 Harrison St, Detroit, MI 48216-1248
      View Details

    Similar Nearby for Sale

    • $10,000,000

      Former Hotel Redevelopment Opportunity

      Four-story, 93-room former hotel with commercial space for sale.
      2250 14Th St, Detroit, MI 48216
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    • Contact for pricing
      0.14 Acres

      Detroit Vacant Land Investment Opportunity

      Residential land for sale in Detroit, great investment opportunity.
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      0.18 Acres

      North Corktown Infill Development Opportunity

      Vacant land in North Corktown for infill development.
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    • $75,000
      0.21 Acres

      Detroit Vacant Land Opportunity

      Vacant lots suitable for mixed-use or multi-family new construction.
      2802-12 Harrison St, Detroit, MI 48216
      View Details
    • $80,000
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      Detroit Vacant Land Parcels

      Seven adjacent vacant land parcels in Hubbard Farms neighborhood.
      346 W Grand Blvd, Detroit, MI 48216
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      0.07 Acres

      Detroit Vacant Land Opportunity

      Vacant lot suitable for new residential development in Detroit.
      1588 Elm St, Detroit, MI 48216
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    Similar Nearby for Lease

    • $2 SF/Yr
      271,797 SF

      Detroit Industrial Space for Lease

      Corktown Warehouse, Multiple Units Available
      1927 Rosa Parks Blvd, Detroit, MI 48216
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      5,000 SF

      Prime Detroit Flex Space Available

      5,000 SF Flex Space - Detroit, MI
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      View Details
    • Contact for pricing

      Corktown Land: Prime Development Site

      .9-acre lot, flexible zoning, build-to-suit.
      1750 Trumbull St, Detroit, MI 48216
      View Details
    • Contact for pricing
      40,000 SF

      Detroit Retail Space - Two Buildings

      Prime Detroit retail space, multiple units available.
      2100 8Th St, Detroit, MI 48216
      View Details
    • Contact for pricing
      28,402 SF

      Corktown Office Space: Detroit, MI

      Modern Office Suites in Historic Corktown
      1401 Vermont St, Detroit, MI 48216
      View Details
    • $7 SF/Yr
      40,500 SF

      Detroit Warehouse Space Available

      40,500 SF warehouse space for lease in Detroit.
      1801-1725 Howard St, Detroit, MI 48216
      View Details
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    149 Grand Blvd
    Detroit, MI 48216-1677
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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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