Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    16122 Meyers Rd Detroit, MI 48235
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16122 Meyers Rd Detroit, MI 48235

    View on Map
    • Retail space
    • 3,515 SF
    For Sale
    $250,000
    View Listing →
    Renovated Retail Building in Detroit For Sale
    $250,000
    3,515 SF

    Renovated Retail Building in Detroit

    3,515 SF renovated retail building with fenced outdoor area.

    16122 Meyers Rd, Detroit, MI 48235
    View Listing
    Property ID
    US43-0024531
    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

    • Retail space

    Property Details for 16122 Meyers Rd

    Year built
    1955
    Property size
    3,515 SF
    Property type
    Retail space
    Property subtype
    Commercial real estate

    Description

    This 3,515 SF property boasts a prime location and is perfectly suited to meet the needs of retail and free-standing building users. Renovated in 2024, its open floor plan, brand-new furnace with AC, new water heater, new roof, and double unit configuration (one side is 34’ x 62’ and other side is 18’ x 62’) with 2 restrooms and 2 front/back doors provide versatility and convenience. The large 53’ x 30’ fenced-in area in the back offers potential for outdoor space utilization. Many potential uses are possible including a coffee roastery, restaurant, salon, studio, office, or a clinic. With easy access from the side alley off Meyers Rd and proximity to M-10/The Lodge Freeway, this property is an enticing prospect in the thriving Detroit area. Coffee roaster is also available for sale.

    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
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1694486
    Latitude
    42.4100651

    Comparable in this City

    • Contact for pricing
      2,917 SF

      Detroit Retail Opportunity For Sale

      2,917 SF retail building with liquor license in Detroit.
      13226 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • Contact for pricing
      3,765 SF

      Detroit Retail Space For Sale

      Retail space available for sale in Detroit, Michigan.
      13241 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • $155,000
      1,537 SF

      Detroit Commercial Property on 7 Mile

      High-traffic location suitable for various business or investment opportunities.
      17306 W Seven Mile Rd, Detroit, MI 48235
      View Details
    • Contact for pricing
      2,800 SF

      Detroit Retail Space For Sale

      Retail space available for purchase in Detroit, Michigan.
      15823 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • $139,900
      3,142 SF

      Detroit Commercial Building on McNichols

      High-visibility commercial building suitable for retail, office, or medical use.
      16244 W Mcnichols Rd, Detroit, MI 48235
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,917 SF

      Detroit Retail Opportunity For Sale

      2,917 SF retail building with liquor license in Detroit.
      13226 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • Contact for pricing
      3,765 SF

      Detroit Retail Space For Sale

      Retail space available for sale in Detroit, Michigan.
      13241 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • $155,000
      1,537 SF

      Detroit Commercial Property on 7 Mile

      High-traffic location suitable for various business or investment opportunities.
      17306 W Seven Mile Rd, Detroit, MI 48235
      View Details
    • Contact for pricing
      2,800 SF

      Detroit Retail Space For Sale

      Retail space available for purchase in Detroit, Michigan.
      15823 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • Contact for pricing
      4,625 SF

      Freestanding Restaurant with Drive-Thru

      Former QSR on heavily traveled corridor, ideal for restaurants.
      14204 W Seven Mile Rd, Detroit, MI 48235
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      3,781 SF

      8 Mile Road Retail Opportunity

      High-traffic Detroit retail space for sale.
      16301 Eight Mile Rd, Detroit, MI 48235
      View Details
    • $12 SF/Yr

      Freestanding Retail Building For Lease

      Freestanding retail building with parking, near DMC Sinai Grace Hospital.
      13110 W Mcnichols Rd, Detroit, MI 48235
      View Details
    • Contact for pricing

      Affordable Commercial Space with Parking

      Versatile commercial space with parking, suitable for various businesses.
      16869 Schaefer Hwy, Detroit, MI 48235
      View Details
    View Listing
    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.
    16122 Meyers Rd
    Detroit, MI 48235
    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!