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    Property profile & analytics

    15110 Mack Ave Grosse Pointe Park, MI 48230-6202

    • Turn key restaurants
    • 1,505 SF
    • 0.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0876444
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 15110 Mack Ave

    Year built
    1940
    Lot size
    0.05 lot acres
    Property size
    1,505 SF
    Property type
    Turn key restaurants
    APN
    39 007 08 0007 001
    APU
    39007080007001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Grosse Pointe Park
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9452
    Latitude
    42.3875
    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
    $5,115
    $0.00
    $0.00
    $88,900
    -
    $0.00
    $0.00
    $177,800

    Comparable in this City

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      369 Fisher Rd

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      3,240 SF

      16930 Kercheval Ave

      RESTAURANT • 3,240 SF
      16930 Kercheval Ave, Grosse Pointe Park, MI 48230-1533
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    • Value Estimation by Request
      1,956 SF

      16624 Mack Ave

      RESTAURANT • 1,956 SF
      16624 Mack Ave, Grosse Pointe Park, MI 48230-6219
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    • Value Estimation by Request
      2,180 SF

      630 Saint Clair St

      RESTAURANT • 2,180 SF
      630 Saint Clair St, Grosse Pointe, MI 48230-1506
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    • Value Estimation by Request
      2,996 SF

      15506 Mack Ave

      RESTAURANT • 2,996 SF
      15506 Mack Ave, Grosse Pointe Park, MI 48230-6206
      View Details
    • Value Estimation by Request
      3,920 SF

      15209 Kercheval Ave

      RESTAURANT • 3,920 SF
      15209 Kercheval Ave, Grosse Pointe Park, MI 48230-1355
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,604 SF

      Grosse Pointe Office Building For Sale

      Office building constructed in 2004, located on Mack Ave.
      17266 Mack Ave, Grosse Pointe, MI 48230
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      West Park Duplex Investment Opportunity

      Well-maintained duplex in West Park, ideal for investors or homeowners.
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      Updated Two-Family Home, Grosse Pointe

      Updated two-family home in desirable Grosse Pointe location.
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      3,604 SF

      Grosse Pointe Executive Office Building

      High-Cap Rate Office Building, 3604 SF
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    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail Space on Mack Avenue

      Highly visible retail space with storefront and rear parking.
      17640 Mack Ave, Grosse Pointe, MI 48230
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    • $17 SF/Yr
      57,040 SF

      Grosse Pointe Medical Office Suite

      Prime Medical Office Space Available
      16815 Jefferson Ave, Grosse Pointe, MI 48230
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    • Sponsored
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      MI, Grosse Pointe Park - Mack Ave

      Discover many ways to work your way in Techmart Center
      15324 And, Grosse Pointe, MI 48230
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    • $550 /Mo

      Grosse Pointe Village Office Suite

      Office suite in vibrant Grosse Pointe's village district.
      17029 Kercheval Rd, Grosse Pointe, MI 48230
      View Details
    • $2,000 /Mo

      Grosse Pointe Park Office Suite

      Office suite with private offices and conference room for rent.
      15050 E Jefferson Ste 102 Ave, Grosse Pointe Park, MI 48230
      View Details
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    15110 Mack Ave
    Grosse Pointe Park, MI 48230-6202
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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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