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    15006 Wyoming St Detroit, MI 48238-1735
    Property profile & analytics

    15006 Wyoming St, Detroit, MI 48238-1735

    View on Map
    • Auto shops
    • 920 SF
    • 0.11 lot acres
    Off-Market
    Last Sale Dec 19, 2022
    Property ID
    US43-5236050
    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

    • Auto shops

    Property Details for 15006 Wyoming St

    Year built
    1928
    Lot size
    0.11 lot acres
    Zone code
    B2
    Property type
    Auto shops
    APN
    16037441-2
    APU
    160374412

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 19, 2022 $9,000 Louis Wells Wayne County Treasurer Public Action · related —
    Aug 9, 2018 $5,300 Fenkell Chalfonte Building LLC Michigan Asset Liquidations Ll Quit Claim Deed · related —
    Nov 28, 2017 $600 Michigan Asset Liquidations Ll Treasurer Of Charter Cnty/wayne M Quit Claim Deed · related —
    Sep 27, 2017 — Treasurer Of Wayne County Owner Name Unavailable Tax Deed · related —
    Nov 11, 2014 — Raw Materials LLC Stone Real Estate Dev LLC Quit Claim Deed · related —
    Jun 13, 2014 — Tareq H Abdulmalek Carter,james Quit Claim Deed · related —
    Jun 10, 2014 $1,000 Tareq H Abdulmalek Carter,james Quit Claim Deed · related —
    Jan 30, 2013 — Stone Real Estate Dev LLC Carter,james Quit Claim Deed · related —

    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
    -83.1593
    Latitude
    42.4004
    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
    $660
    $0.00
    $0.00
    $6,200
    -
    $0.00
    $0.00
    $12,400

    Comparable in this City

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      8,857 SF

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      2,476 SF

      8010 Puritan St

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      2560 Puritan St

      AUTO REPAIR, GARAGE
      2560 Puritan St, Detroit, MI 48238-1418
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      3,936 SF

      3017 Fenkell St

      AUTO REPAIR, GARAGE
      3017 Fenkell St, Detroit, MI 48238-2105
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      2,485 SF

      7133 Fenkell St

      AUTO REPAIR, GARAGE
      7133 Fenkell St, Detroit, MI 48238-2049
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    • Value Estimation by Request
      1,585 SF

      13600 Livernois Ave

      AUTO REPAIR, GARAGE
      13600 Livernois Ave, Detroit, MI 48238-2516
      View Details

    Similar Nearby for Sale

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      Detroit Commercial Building with Bay Doors

      6000+ sqft commercial building with bay doors in Detroit.
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      Established Collision Shop on Fenkell

      Collision shop on high-traffic Fenkell Street, Detroit. Income potential!
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      Turnkey Automotive Shop with Income

      Updated mechanic shop with leased building for additional income.
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      14,000 SF

      Auto Shop, Car Wash, Retail

      Auto shop, car wash, and retail space for sale.
      14201 Wyoming St, Detroit, MI 48238
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    Similar Nearby for Lease

    • $4,200 /Mo

      Mechanic Shop with Warehouse Access

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      Freestanding Commercial Building on Davison

      High-visibility commercial building with parking on a busy corridor.
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      Detroit Retail Building For Lease

      12,060 SF retail building in Northwest Detroit with parking.
      14120 Wyoming Ave, Detroit, MI 48238
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      Renovated Retail Space on Livernois

      Prime retail space in Detroit's Avenue of Fashion.
      13323 Livernois St, Detroit, MI 48238
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      Neighborhood Shopping Center For Rent

      35,000 SF shopping center with national and regional tenants.
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    15006 Wyoming St
    Detroit, MI 48238-1735
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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.

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