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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15038 Warren Ave Dearborn, MI 48126-1352

    • Grocery and convenience stores
    • 4,172 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0350368
    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

    • Express Poultry & Fish / Restaurant / Fresh Food Market

    Property Details for 15038 Warren Ave

    Year built
    1950
    Lot size
    0.29 lot acres
    Property size
    4,172 SF
    Zone code
    BB
    Property type
    Grocery and convenience stores
    APN
    82 10 063 33 019
    APU
    821006333019

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $506,000
      Market price range: $294k - $566k
      AI Estimate
      $506,000
      Market price range: $294k - $566k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $450,000
      Current use
      OFFICE BUILDING
      $535,000
      Change: +19% Conversion: Easy
      MEDICAL BUILDING
      $440,000
      Change: -3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $425,000
      Change: -6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1916
    Latitude
    42.344
    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
    $12,250
    $0.00
    $0.00
    $212,800
    -
    $0.00
    $0.00
    $425,600

    Comparable in this City

    • Value Estimation by Request
      1,722 SF

      12845 Warren Ave

      GROCERY, SUPERMARKET • 1,722 SF
      12845 Warren Ave, Dearborn, MI 48126-1532
      View Details
    • Value Estimation by Request
      1,115 SF

      10000 Michigan Ave

      CONVENIENCE STORE • 1,115 SF
      10000 Michigan Ave, Dearborn, MI 48126-3707
      View Details
    • Value Estimation
      $695,000
      1,860 SF

      14402 Michigan Ave

      CONVENIENCE STORE • 1,860 SF
      14402 Michigan Ave, Dearborn, MI 48126-3437
      View Details
    • Value Estimation by Request
      2,780 SF

      6550 Schaefer Rd

      GROCERY, SUPERMARKET • 2,780 SF
      6550 Schaefer Rd, Dearborn, MI 48126-1813
      View Details
    • Value Estimation by Request
      2,400 SF

      7345 Schaefer Rd

      CONVENIENCE STORE • 2,400 SF
      7345 Schaefer Rd, Dearborn, MI 48126-1446
      View Details
    • Value Estimation
      $1,110,000
      2,975 SF

      6200 Greenfield Rd

      CONVENIENCE STORE • 2,975 SF
      6200 Greenfield Rd, Dearborn, MI 48126-2060
      View Details

    Similar Nearby for Sale

    • $795,000

      Established Bakery in Dearborn

      Turn-key bakery with real estate, business, and equipment included.
      6412 Schaefer Rd, Dearborn, MI 48126
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    • $3,695,000
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      Dearborn Commercial Property For Sale

      Centrally located commercial property in high-traffic Dearborn business district.
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    • $1,800,000
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      Established Auto Repair Business Opportunity

      Thriving auto repair business and real estate for sale in Dearborn.
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    • $1,300,000

      Dearborn Retail Opportunity on Schaefer

      Over 9,000 SF retail building with parking.
      5401 Schaefer Rd, Dearborn, MI 48126
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    • $49,999

      Dearborn Retail Business Opportunity

      Established business with inventory in a developing Dearborn location.
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    • $799,999
      3,200 SF

      Dearborn Commercial Building on Ford

      3,200 sq ft commercial building on high-traffic Ford Road.
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    Similar Nearby for Lease

    • $2,300 /Mo

      New Retail Space Available

      Newly built retail space available in Dearborn, Michigan.
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    • $2,899 /Mo

      East Dearborn Commercial Space Available

      2,500 sq ft space in high-traffic East Dearborn location.
      5461 Schaefer Rd, Dearborn, MI 48126
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    • $3,300 /Mo

      High-Traffic Retail Space Available

      Retail space with high visibility and unlimited parking.
      13306 Michigan Ave, Dearborn, MI 48126
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    • $4,229 /Mo

      East Dearborn Retail Space Available

      Retail space available in East Dearborn's newest development.
      13730 Michigan Ave, Dearborn, MI 48126
      View Details
    • $4,500 /Mo
      2,400 SF

      Dearborn Commercial Space for Rent

      2400 sq ft commercial space suitable for office, medical, retail.
      6307-6309 Schaefer Rd, Dearborn, MI 48126
      View Details
    • $4,400 /Mo
      3,200 SF

      Ford Road Commercial Opportunity

      High-visibility 3,200 sq ft property suitable for various businesses.
      14455 Frd Rd Rd, Dearborn, MI 48126
      View Details
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    15038 Warren Ave
    Dearborn, MI 48126-1352
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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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