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    1523 Saint Clair River Dr Algonac, MI 48001
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    Property profile & analytics

    1523 Saint Clair River Dr, Algonac, MI 48001

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    • Commercial real estate
    • 4,564 SF
    • 0.17 lot acres
    For Sale
    $595,000
    View Listing →
    Riverview Apartment Building For Sale
    $595,000
    4,565 SF

    Riverview Apartment Building

    Seven-unit residential income property with separate gas and electric meters and refreshed interiors with updated sewer.

    1523 Saint Clair River Drive, Algonac, MI 48001
    View Listing
    Property ID
    US43-4566934
    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

    • Commercial real estate

    Property Details for 1523 Saint Clair River Dr

    Year built
    1965
    Lot size
    0.17 lot acres
    Zone code
    R-2
    Property type
    Commercial real estate
    APN
    74-01-105-0444-000
    APU
    74011050444000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 18, 2023 $550,000 1523 Saint Clair River LLC North Oakland Investments LLC Warranty Deed —
    Jun 4, 2021 — North Oakland Investments LLC — Deed · related $175k · Nogin Investments LLC
    Jul 1, 2020 $75,000 North Oakland Investments LLC Harry Lee Warranty Deed —
    Sep 17, 2018 $240,000 Harry Lee Pastoria Equities LLC Warranty Deed —
    Sep 21, 2017 — Pastoria Equities LLC — Deed · related $65k · Mpd LLC
    Oct 27, 2015 — Pastoria Equities LLC Lucido,eda Quit Claim Deed · related —
    Jun 2, 2014 — Eda Lucido Pastoria,david Quit Claim Deed · related —
    Feb 29, 2012 — Pastoria,david Pastoria Equities LLC Quit Claim Deed · related —
    — — David Pastoria — Deed Of Trust · related $317k · Eda Lucido
    — — Pastoria Equities LLC — Deed Of Trust · related $65k · Mpd LLC

    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
    Algonac
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.5286
    Latitude
    42.6217
    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
    $6,215
    $0.00
    $0.00
    $112,400
    -
    $0.00
    $0.00
    $224,800

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      Residential Land in Clay, MI

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      Wooded 27+ acre parcel with road frontage and widening depth suitable for larger single-family homes or barndominiums.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Algonac, Michigan.
      1025 St Clair Riv Dr, Algonac, MI 48001
      View Details
    • $18 SF/Yr
      24,000 SF

      Algonac Retail Space Available

      Retail space available for lease in Algonac, Michigan.
      1027- Saint Clair River Dr, Algonac, MI 48001
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    • Contact for pricing

      Retail Space at River Walk

      Neighborhood shopping center with anchor position and former bank available.
      1027-1105 St Clair Riv Dr, Algonac, MI 48001
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    • $4,000 /Mo
      1,780 SF

      Waterfront Commercial Land with Canal Access

      General business waterfront site with canal frontage and outdoor space for marine and water-access operations.
      7427 Dyke Rd, Clay, MI 48001
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    • $2,200 /Mo

      M-29 Retail Space Available

      Retail space on state highway with ample parking.
      588 Pointe Tremble Rd, Algonac, MI 48001
      View Details
    • Contact for pricing
      4,500 SF

      Grocery-Anchored Retail Center Space

      Retail space available in grocery-anchored center with national co-tenants.
      2600-2658 Pointe Tremble Rd, Algonac, MI 48001
      View Details
    View Listing
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    Algonac, MI 48001
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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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