Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15350 Mercantile Dr Dearborn, MI 48120-1259

    • Office buildings
    • 6,336 SF
    • 0.75 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4856005
    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

    • Seastar LLC / Freight Forwarding Service / Title Company
    • Manic Shoes / Corporate Office

    Property Details for 15350 Mercantile Dr

    Year built
    1975
    Lot size
    0.75 lot acres
    Property size
    6,336 SF
    Zone code
    IA
    Property type
    Office buildings
    APN
    82 10 191 06 005
    APU
    821019106005

    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
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1883
    Latitude
    42.3099
    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
    $13,802
    $0.00
    $0.00
    $219,800
    -
    $0.00
    $0.00
    $439,600

    Comparable in this City

    • Value Estimation by Request
      12,800 SF

      15300 Commerce Dr

      OFFICE BUILDING • 12,800 SF
      15300 Commerce Dr, Dearborn, MI 48120-1264
      View Details
    • Value Estimation by Request
      56,038 SF

      3900 Wyoming St

      OFFICE BUILDING • 56,038 SF
      3900 Wyoming St, Dearborn, MI 48120-1468
      View Details
    • Value Estimation by Request
      12,800 SF

      15350 Commerce Dr

      OFFICE BUILDING • 12,800 SF
      15350 Commerce Dr, Dearborn, MI 48120-1297
      View Details
    • Value Estimation
      $1,000,000
      17,878 SF

      15360 Commerce Dr

      OFFICE BUILDING • 17,878 SF
      15360 Commerce Dr, Dearborn, MI 48120-1252
      View Details
    • Value Estimation by Request
      1,160 SF

      10500 Dix

      OFFICE BUILDING • 1,160 SF
      10500 Dix, Dearborn, MI 48120-1506
      View Details
    • Value Estimation by Request
      147,942 SF

      3200 Greenfield Rd

      OFFICE BUILDING • 147,942 SF
      3200 Greenfield Rd, Dearborn, MI 48120-1802
      View Details

    Similar Nearby for Sale

    • $179,900

      Vacant Commercial Lot in Dearborn

      Prime commercial land in a busy Dearborn business corridor.
      3214 Wyoming St, Dearborn, MI 48120
      View Details
    • $1,595,000

      Immaculate Industrial Facility For Sale

      Prime location, excellent access, upgraded facility, ideal for industrial uses.
      1330 Industrial St, Dearborn, MI 48120
      View Details
    • $449,900

      Freestanding Building in Dearborn

      Freestanding building with ample parking and freeway access.
      10531 Wren St, Dearborn, MI 48120
      View Details
    • $45,000
      0.09 Acres

      Buildable Lot in Dearborn, MI

      Buildable lot in a desirable Dearborn neighborhood, perfect for new construction.
      1740 Ferney St, Dearborn, MI 48120
      View Details
    • $1,595,000
      15,192 SF

      1330 Industrial St, Dearborn, MI 48120

      Industrial properties • 15,192 SF
      1330 Industrial St, Dearborn, MI 48120
      View Details
    • $3,038,025
      60,765 SF

      14555 Rotunda Dr

      Life science properties • 60,765 SF
      14555 Rotunda Dr, Dearborn, MI 48120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,000 SF

      New Medical Office Building

      Medical office space available in newly constructed Dearborn building.
      9550 Dix St, Dearborn, MI 48120
      View Details
    • $16 SF/Yr
      12,800 SF

      Dearborn Office Space for Lease

      12,800 SF Office Building, 892 SF Available
      15350 Commerce Dr, Dearborn, MI 48120
      View Details
    • $17 SF/Yr
      136,553 SF

      Greenfield Road Office Space

      Dearborn Office Building - 26,690 SF Available
      3200 Greenfield Rd, Dearborn, MI 48120
      View Details
    • Contact for pricing

      Dearborn Office Space Available

      Office space available for rent in Dearborn, Michigan.
      3969 Wyoming Ave, Dearborn, MI 48120
      View Details
    • $9 SF/Yr
      48,362 SF

      Schafer Court III: Dearborn Flex Space

      Dearborn flex warehouse, 12,525 SF available.
      14441 Rotunda Dr, Dearborn, MI 48120
      View Details
    • Contact for pricing
      359,630 SF

      Dearborn Flex Space Available

      35,963 SF flex space in the heart of Dearborn.
      15301 Century Dr, Dearborn, MI 48120
      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.
    15350 Mercantile Dr
    Dearborn, MI 48120-1259
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.