Add Listing
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

    15401 Commerce Dr Dearborn, MI 48120-1208

    • Medical Office Space
    • 22,888 SF
    • 3.86 lot acres
    OFF-MARKET
    Value Estimations
    $2,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1453400
    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

    • PACE Southeast Michigan - Dearborn Center / Geriatric Care Provider / Nursing Home

    Property Details for 15401 Commerce Dr

    Year built
    1982
    Lot size
    3.86 lot acres
    Property size
    22,888 SF
    Zone code
    BB
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    82 10 191 06 015
    APU
    821019106015

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,370,000
      Market price range: $1.74M - $3.09M
      AI Estimate
      $2,370,000
      Market price range: $1.74M - $3.09M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,405,000
      Current use
      RESTAURANT
      $3,270,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $3,110,000
      Change: +29% Conversion: Easy
      RETAIL STORES
      $2,685,000
      Change: +12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,325,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1893
    Latitude
    42.31
    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
    $54,589
    $0.00
    $0.00
    $1,742,300
    -
    $0.00
    $0.00
    $3,484,600

    Comparable in this City

    • Value Estimation by Request
      1,725 SF

      10306 Dix

      MEDICAL BUILDING • 1,725 SF
      10306 Dix, Dearborn, MI 48120-1561
      View Details
    • Value Estimation
      $1,260,000
      11,007 SF

      9550 Dix

      MEDICAL BUILDING • 11,007 SF
      9550 Dix, Dearborn, MI 48120-1529
      View Details
    • Value Estimation by Request
      4,289 SF

      10066 Dix

      MEDICAL BUILDING • 4,289 SF
      10066 Dix, Dearborn, MI 48120-1551
      View Details
    • Value Estimation
      $630,000
      6,688 SF

      9925 Dix

      DENTAL BUILDING • 6,688 SF
      9925 Dix, Dearborn, MI 48120-1593
      View Details
    • Value Estimation
      $630,000
      6,336 SF

      15350 Mercantile Dr

      OFFICE BUILDING • 6,336 SF
      15350 Mercantile Dr, Dearborn, MI 48120-1259
      View Details
    • Value Estimation
      $1,270,000
      12,800 SF

      15300 Commerce Dr

      OFFICE BUILDING • 12,800 SF
      15300 Commerce Dr, Dearborn, MI 48120-1264
      View Details

    Similar Nearby for Sale

    • $35,000
      1,200 SF

      Turn-Key Salon in High-Traffic Plaza

      Fully renovated salon in prime location with low overhead.
      9704 Dix Ave, Dearborn, MI 48120
      View Details
    • $429,000
      1,725 SF

      Dearborn Renovated Commercial Property For Sale

      Prime, renovated commercial property in Dearborn with high visibility.
      10306 Dix, Dearborn, MI 48120
      View Details
    • Contact for pricing
      1,200 SF

      Office Space For Sale

      1,200 SF office space available for sale.
      9704 Dix Ave, Dearborn, MI 48120
      View Details
    • New
      $1,100,000
      4,336 SF

      Versatile Commercial Property in Dearborn

      0.57-acre commercial property with I-A zoning and recent upgrades.
      10118 Eagle St, Dearborn, MI 48120
      View Details
    • Contact for pricing
      60,765 SF

      Dearborn Industrial Property for Sale

      Industrial property available for purchase in Dearborn, Michigan.
      14555 Rotunda Dr, Dearborn, MI 48120
      View Details
    • $449,900
      1,400 SF

      Freestanding Building in Dearborn

      Prime Dearborn property with ample parking and freeway access.
      10531 Wren St, Dearborn, MI 48120
      View Details

    Similar Nearby for Lease

    • Sponsored
      Contact for pricing

      Dearborn

      Discover many ways to work your way in Dearborn
      3200 Greenfield Rd, Dearborn, MI 48120
      View Details
    • Contact for pricing

      Dearborn Office Space For Lease

      Office space available for lease in Dearborn, Michigan.
      15350 N Commerce Dr, Dearborn, MI 48120
      View Details
    • Contact for pricing

      Industrial Space Available For Lease

      9,640 SF industrial space available for lease.
      15300 Rotunda Dr, Dearborn, MI 48120
      View Details
    • Contact for pricing

      Dearborn Office Space Available

      Office space available for rent in Dearborn, Michigan.
      14441 Rotunda Dr, Dearborn, MI 48120
      View Details
    • Contact for pricing

      Dearborn Office Space Available

      Office space for lease in Dearborn, Michigan.
      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
    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.
    15401 Commerce Dr
    Dearborn, MI 48120-1208
    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.
    Sign Up Successful!
    You now have access to more from Realmo!