Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15203 Holly Rd Holly, MI 48442-1163
    Back to Search
    Property profile & analytics

    15203 Holly Rd, Holly, MI 48442-1163

    View on Map
    • Retail space
    • 2,477 SF
    • 0.37 lot acres
    Off-Market
    Last Sale May 31, 2022
    $475,000
    Property ID
    US43-1756392
    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

    • Little Caesars Pizza / Restaurant
    • Holly Plaza / Shopping Center & Mall

    Property Details for 15203 Holly Rd

    Year built
    1976
    Lot size
    0.37 lot acres
    Property type
    Retail space
    APN
    IH-01-27-151-007
    APU
    IH0127151007

    Description

    This 2,400 square foot retail center in Holly, Michigan, presents a compelling value-add investment opportunity. Located at 15203 N Holly Rd, 48442, on a 0.37-acre lot, this single-story, 1995-built property currently houses two tenants, with one space available for lease. The current occupancy is 50%, with a Net Operating Income (NOI) of $26,651 and a projected NOI of $55,326 after lease-up. The asking price is $614,000, representing a current cap rate of 4.34% and a pro-forma cap rate of 9.01%. The property features a gross lease structure with a remaining lease term of approximately 2.3 years (expiring 02/28/2027). The strong location on Holly Road, a main retail corridor, ensures high visibility and accessibility. The area boasts a thriving retail environment, surrounded by established national retailers such as Rite Aid, CVS, McDonald's, and more. Within a 5-mile radius, the population exceeds 29,950, and the average household income within 1 mile is over $90,000. One tenant, Little Caesars, has occupied their space for over 10 years. The vacant unit is ideal for a small shop and offers attractive lease terms. This property offers significant upside potential due to the 50% vacancy rate.

    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
    Holly
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6278
    Latitude
    42.8072
    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
    $4,168
    $0.00
    $0.00
    $91,670
    -
    $0.00
    $0.00
    $183,340

    Comparable in this City

    • Value Estimation
      $2,500,000
      35,477 SF

      1122 Saginaw St

      RETAIL STORES (PERSONAL SERVICES)
      1122 Saginaw St, Holly, MI 48442-1353
      View Details
    • Value Estimation
      $780,000
      10,700 SF

      514 Saginaw St

      RETAIL STORES (PERSONAL SERVICES)
      514 Saginaw St, Holly, MI 48442-1446
      View Details
    • Value Estimation by Request
      3,296 SF

      108 Saginaw St

      RETAIL STORES (PERSONAL SERVICES)
      108 Saginaw St, Holly, MI 48442-1610
      View Details
    • Value Estimation by Request
      5,758 SF

      104 Maple St

      RETAIL STORES (PERSONAL SERVICES)
      104 Maple St, Holly, MI 48442-2101
      View Details
    • Value Estimation by Request
      5,356 SF

      119 Saginaw St

      RETAIL STORES (PERSONAL SERVICES)
      119 Saginaw St, Holly, MI 48442-1611
      View Details
    • Value Estimation by Request
      640 SF

      109 Battle Aly

      RETAIL STORES (PERSONAL SERVICES)
      109 Battle Aly, Holly, MI 48442-1675
      View Details

    Similar Nearby for Sale

    • New
      $115,000
      Pending

      Waterfront Land on Rice Lake

      Land with frontage on Rice and access to Bush Lake.
      454 East Rd, Holly, MI 48442
      View Details
    • $56,900
      1.98 Acres

      Residential Land in Holly, Michigan

      1.98-acre parcel near downtown Holly, build your dream home.
      1A Fagan Rd, Holly, MI 48442
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,500 SF

      Retail Space in Busy Center

      Retail spaces available in a busy Holly shopping center.
      15191 N Holly Rd, Holly, MI 48442
      View Details
    • Contact for pricing

      Retail Space in Holly Plaza

      Retail spaces available in busy Holly shopping center.
      15191-15231 North Holly Rd, Holly, MI 48442
      View Details
    • $3,500 /Mo
      3,288 SF

      Office Space on Dixie Highway

      3,288 SF office space for lease in Holly, Michigan.
      15045 Dixie Hwy, Holly, MI 48442
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15203 Holly Rd
    Holly, MI 48442-1163
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    15203 Holly Rd, Holly, MI, 48442
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!