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

    15075 24th Mile Rd Shelby Township, MI 48315-2105

    • Government properties
    • 4,115 SF
    • 1.21 lot acres
    OFF-MARKET
    Value Estimations
    $880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0828598
    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

    • Huntington Bank / Bank / Atm
    • Huntington Bank ATM (Drive-Up) / Atm
    • Huntington Mortgage Group / Mortgage Lender
    • Huntington Insurance / Insurance Agency

    Property Details for 15075 24th Mile Rd

    Year built
    2004
    Lot size
    1.21 lot acres
    Property size
    4,115 SF
    Zone code
    CK MAP
    Property type
    Government properties
    APN
    23-07-12-400-047
    APU
    230712400047

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $877,000
      Market price range: $408k - $878k
      AI Estimate
      $877,000
      Market price range: $408k - $878k

    • Alternative Use

      Use
      Estimation
      CENTRALLY ASSESSED
      $685,000
      Current use
      COMMERCIAL (GENERAL)
      $570,000
      Change: -17% Conversion: Difficult
      OFFICE BUILDING
      $570,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9772
    Latitude
    42.6866
    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
    2022
    $17,423
    $0.00
    $0.00
    $653,900
    -
    $0.00
    $0.00
    $1,307,800

    Comparable in this City

    • Value Estimation
      $1,000,000
      4,682 SF

      45125 Hayes Rd

      CENTRALLY ASSESSED • 4,682 SF
      45125 Hayes Rd, Shelby Township, MI 48315-6209
      View Details
    • Value Estimation
      $1,270,000
      5,954 SF

      45133 Hayes Rd

      CENTRALLY ASSESSED • 5,954 SF
      45133 Hayes Rd, Shelby Township, MI 48315-6209
      View Details
    • Value Estimation
      $665,000
      3,107 SF

      13830 23rd Mile Rd

      CENTRALLY ASSESSED • 3,107 SF
      13830 23rd Mile Rd, Shelby Township, MI 48315-2955
      View Details
    • Value Estimation by Request
      0.96 Acres

      13741 Hall Rd

      CENTRALLY ASSESSED • 0.96 Acres
      13741 Hall Rd, Shelby Township, MI 48315-6100
      View Details
    • Value Estimation
      $1,180,000
      5,523 SF

      13750 23rd Mile Rd

      CENTRALLY ASSESSED • 5,523 SF
      13750 23rd Mile Rd, Shelby Township, MI 48315-2953
      View Details
    • Value Estimation
      $770,000
      3,605 SF

      13555 23rd Mile Rd

      CENTRALLY ASSESSED • 3,605 SF
      13555 23rd Mile Rd, Shelby Township, MI 48315-2719
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.70 Acres

      Prime Shelby Twp Commercial Land

      1.7 Acres, High-Traffic Location
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    • $175,000
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      Shelby Market Opportunity

      Established market with Mediterranean kitchen in high-traffic location.
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    • $351,083

      Industrial Lots For Sale

      Industrial land available in Shelby Township, Michigan.
      50823 Central Industrial Dr, Shelby Township, MI 48315
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    • $209,900
      0.43 Acres

      Residential Land in Shelby Township

      Cleared land ready for building a dream home in Shelby.
      14345 24 Mile Rd, Shelby Twp, MI 48315
      View Details
    • Contact for pricing
      6 SF

      Restaurant & Sports Bar Opportunity

      Restaurant & Sports Bar for sale or lease in Shelby Township.
      15133 Hall Rd, Utica, MI 48315
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    Similar Nearby for Lease

    • Contact for pricing

      Industrial Development on 47 Acres

      Corporate class industrial development with build-to-suit opportunities for lease.
      14670 23 Mile Rd, Shelby Township, MI 48315
      View Details
    • $25 SF/Yr
      3,240 SF

      Shelby Township Flex Space Available

      Flex space with high ceilings, overhead doors, and ample parking.
      45147-45231 Market St, Shelby Township, MI 48315
      View Details
    • $10 SF/Yr
      12,182 SF

      Freestanding Industrial Building Available

      12,182 SF industrial building with office space for lease.
      50300 Rizzo Dr, Shelby Twp, MI 48315
      View Details
    • $20 SF/Yr
      2,350 SF

      Retail/Medical Space Available

      2,350 SF in-line space, built-out medical. Available March 2026.
      47053 Hayes Rd, Shelby Township, MI 48315
      View Details
    • $25 SF/Yr
      800 SF

      Hall Road Retail Space Available

      Retail space with high visibility and strong retail synergy.
      13987 Hall Rd, Shelby Township, MI 48315
      View Details
    • $10 SF/Yr
      6,120 SF

      Shelby Twp Flex Warehouse For Lease

      Modern 6,120 SF Flex Space, Excellent Location
      49611 Oakland Dr, Shelby Twp, MI 48315
      View Details
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    15075 24th Mile Rd
    Shelby Township, MI 48315-2105
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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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