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    161 Milford Rd Milford, MI 48381-2758
    Property profile & analytics

    161 Milford Rd Milford, MI 48381-2758

    View on Map
    • Outlet malls
    • 72,727 SF
    • 10.51 lot acres
    Off-Market
    Last Sale Jan 22, 2024
    Property ID
    US43-3228992
    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
    $6,260,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Outlet malls

    Property Details for 161 Milford Rd

    Year built
    2003
    Lot size
    10.51 lot acres
    Property size
    72,727 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    LM-16-10-451-025
    APU
    LM1610451025

    Description

    Milford Plaza, a 71,098 square foot community shopping center in Milford Charter Township, Michigan (Oakland County, zip code 48381), presents exceptional retail leasing opportunities. Strategically located at the southeast corner of General Motors Road and Milford Road, this center enjoys a highly visible position at the gateway to Milford. The property boasts a signalized entrance on Milford Road and multiple curb cuts on both major roads, ensuring easy access for customers. Anchored by a 28,454 square foot Planet Fitness and a 13,110 square foot Dollar Tree, the center also houses tenants such as Ivy Rehab, Great Clips, and Play and Grow. With excellent visibility and signage, Milford Plaza benefits from high daily traffic counts: 16,000 vehicles on Milford Road and 12,000 on General Motors Road. The primary trade area encompasses over 51,000 people. Multiple spaces are available, ranging from 1,400 to 4,200 contiguous square feet, with a total of 9,100 square feet currently vacant. Specific available spaces include units at 137, 145, 151, 155, and 157 S Milford Rd (various sizes), and Suite B at 163 S Milford Rd (5,200 square feet). These spaces offer excellent small shop leasing opportunities at competitive rates. The property's address is 161 S Milford Rd.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,910,000
      Market price range: $5.71M - $19.1M
      AI Estimate
      $5,612,000
      Market price range: $4.54M - $15.8M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.6082
    Latitude
    42.5816
    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
    $93,443
    $0.00
    $0.00
    $2,320,050
    -
    $0.00
    $0.00
    $4,640,100

    Comparable in this City

    • Value Estimation
      $2,215,000
      10,856 SF

      720 General Motors Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 10,856 SF
      720 General Motors Rd, Milford, MI 48381-2220
      View Details
    • Value Estimation
      $2,055,000
      19,596 SF

      525 Main St

      REGIONAL SHOPPING CENTER, MALL • 19,596 SF
      525 Main St, Milford, MI 48381-1591
      View Details
    • Value Estimation by Request
      5,832 SF

      339 Main St

      REGIONAL SHOPPING CENTER, MALL • 5,832 SF
      339 Main St, Milford, MI 48381-1959
      View Details
    • Value Estimation
      $620,000
      7,079 SF

      169 Milford Rd

      REGIONAL SHOPPING CENTER, MALL • 7,079 SF
      169 Milford Rd, Milford, MI 48381-2758
      View Details
    • Value Estimation
      $845,000
      11,539 SF

      800 Milford Rd

      REGIONAL SHOPPING CENTER, MALL • 11,539 SF
      800 Milford Rd, Milford, MI 48381-1597
      View Details
    • Value Estimation
      $785,000
      12,000 SF

      238 Smt St

      REGIONAL SHOPPING CENTER, MALL • 12,000 SF
      238 Smt St, Milford, MI 48381-1562
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Center with Ample Parking

      Well-maintained retail center with long-term tenant and growth potential.
      135 South Milford Rd, Milford, MI 48381
      View Details
    • Contact for pricing

      Grocery Anchored Shopping Center Space

      Retail space available in Milford's largest grocery-anchored shopping center.
      510-670 Highland Ave, Milford, MI 48381
      View Details
    • $1,150,000
      Pending

      Commercial Property Package For Sale

      Commercial property package featuring restaurant, rental home, and billboard.
      2020 S Milford Rd S, Milford, MI 48381
      View Details
    • Contact for pricing
      5,200 SF

      Downtown Milford Multi-Tenant Office Building

      Multi-tenant office building in downtown Milford for sale.
      127-131 E Commerce St, Milford, MI 48381
      View Details
    • Contact for pricing
      11,800 SF

      Downtown Milford Retail Opportunity

      Premium retail building in downtown Milford with high visibility.
      640 N Milford Rd, Milford, MI 48381
      View Details
    • $1,120,000
      5,135 SF

      Main Street Storefront Opportunity

      Unique storefront in downtown Milford, suitable for retail or restaurant.
      105 West Huron St, Milford, MI 48381
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Major Retailers

      Retail space available near Starbucks, Planet Fitness, and Chipotle.
      177 South Milford Rd, Milford, MI 48381
      View Details
    • Contact for pricing

      640 N Milford Rd, Milford, MI 48381

      Retail space
      640 N Milford Rd, Milford, MI 48381
      View Details
    • Contact for pricing

      Prime Retail Space in Milford

      11,000+ sq ft retail building in downtown Milford.
      640 North Milford Rd, Milford, MI 48381
      View Details
    • Contact for pricing

      Industrial Land for Lease

      2.70 acres of vacant land suitable for outside storage.
      2739 E Maple Rd, Milford, MI 48381
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office property available for lease in Milford, Michigan.
      1100 Corporate Office Dr, Milford, MI 48381
      View Details
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    Milford, MI 48381-2758
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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.

    More about this property
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