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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    15500 Warren Ave Detroit, MI 48224-3155

    • Retail space
    • 9,248 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0107217
    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

    • Eastside Liquor / (Bike/Boat/Book/etc) Store / Wine and Liquor Store

    Property Details for 15500 Warren Ave

    Year built
    1941
    Lot size
    0.27 lot acres
    Property size
    9,248 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    21002397.
    APU
    21002397

    Description

    This exceptional retail opportunity presents a thriving convenience store with a liquor license located at 15500 E Warren Ave, Detroit, MI 48224, in Wayne County. The 4,000 square foot building, constructed in 1941 and extensively renovated in 2024 (and many times prior), boasts a strong weekly revenue stream of $30,000 to $35,000. The property includes three attached units, a sizable kitchen area, ample storage space, and convenient parking, including a private side lot. The store features 15 coolers and operates from 8:00 AM to 11:00 PM daily. Significant recent upgrades include a 7-year-old roof, and a 3-year-old furnace and AC system. The asking price is $799,000, translating to $199.75 per square foot. This turnkey operation offers a compelling investment opportunity in a high-traffic area of Detroit. The property's established clientele and consistent profitability make it an attractive prospect for experienced business owners seeking a well-maintained and successful enterprise. Further details are available upon request.

    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
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9483
    Latitude
    42.399
    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
    2020
    $11,322
    $0.00
    $0.00
    $134,400
    -
    $0.00
    $0.00
    $268,800

    Comparable in this City

    • Value Estimation by Request
      1,421 SF

      16301 Warren Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,421 SF
      16301 Warren Ave, Detroit, MI 48224-2721
      View Details
    • Value Estimation by Request
      4,263 SF

      15215 Warren Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,263 SF
      15215 Warren Ave, Detroit, MI 48224-3032
      View Details
    • Value Estimation by Request
      2,062 SF

      10300 Whittier St

      RETAIL STORES (PERSONAL SERVICES) • 2,062 SF
      10300 Whittier St, Detroit, MI 48224-1709
      View Details
    • Value Estimation by Request
      1,200 SF

      11030 Whittier St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      11030 Whittier St, Detroit, MI 48224-1641
      View Details
    • Value Estimation by Request
      1,333 SF

      11421 Whittier St

      RETAIL STORES (PERSONAL SERVICES) • 1,333 SF
      11421 Whittier St, Detroit, MI 48224-1539
      View Details
    • Value Estimation by Request
      1,200 SF

      11359 Whittier St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      11359 Whittier St, Detroit, MI 48224-1544
      View Details

    Similar Nearby for Sale

    • $119,900

      Retail Space with High Ceilings

      Retail property suitable for various uses, fixtures included.
      19156 Kelly Rd, Detroit, MI 48224
      View Details
    • $250,000
      1,960 SF

      Detroit Retail Property for Sale

      Retail property in Detroit, MI, ideal for commercial use.
      6200 Cadieux Rd, Detroit, MI 48224
      View Details
    • $235,000

      Detroit Retail/Office Opportunity

      Meticulously maintained building suitable for retail, office, or event space.
      10820 Whittier St, Detroit, MI 48224
      View Details
    • $119,900

      Retail Office Building For Sale

      Retail office building featuring four offices with sinks and open area.
      19150 Kelly Rd, Detroit, MI 48224
      View Details
    • $50,000
      820 SF

      Detroit Retail Rehab Opportunity

      Prime corner location, 820 sq ft, vacant.
      17172 Warren Ave, Detroit, MI 48224
      View Details
    • $898,000

      Profitable Dry Cleaning Business Opportunity

      Established dry cleaning business for sale with equipment and real estate.
      15923 E Warren Ave, Detroit, MI 48224
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      921 SF

      Retail Space on Morang

      921 SF retail space with private restroom.
      12430-12510 Morang Dr, Detroit, MI 48224
      View Details
    • $13 SF/Yr
      10,239 SF

      Retail Space Sublease Opportunity

      10,239 SF retail space available for sublease.
      17431 E Warren Ave, Detroit, MI 48224
      View Details
    • $1,600 /Mo

      Retail or Office Space Available

      Retail or office space for rent with parking available.
      16800 E Warren Ave, Detroit, MI 48224
      View Details
    • $2,300 /Mo
      2,632 SF

      Remodeled Commercial Building on Warren Avenue

      Move-in-ready commercial building on a busy Detroit corridor.
      17651 E Warren Ave, Detroit, MI 48224
      View Details
    • Contact for pricing
      6,459 SF

      Prime Detroit Retail Space

      6,459 SF Vacant Retail Building
      16729 Warren Ave, Detroit, MI 48224
      View Details
    • $5 SF/Yr
      9,300 SF

      Detroit Executive Office Suites

      Prime Detroit Flex Space Available Now
      18101-18111 Warren Ave, Detroit, MI 48224
      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.
    15500 Warren Ave
    Detroit, MI 48224-3155
    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.