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    Property profile & analytics

    16701 Harper Ave Detroit, MI 48224-1908

    • Drive through restaurants
    • 1,734 SF
    • 0.55 lot acres
    OFF-MARKET
    Last Sale
    Jun 15, 2021
    $2,115,198
    Value Estimations
    $2,340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0385395
    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

    • Popeyes Louisiana Kitchen / Chicken Restaurant / Cajun Restaurant

    Property Details for 16701 Harper Ave

    Year built
    2008
    Lot size
    0.55 lot acres
    Property size
    1,734 SF
    Zone code
    B4
    Property type
    Drive through restaurants
    APN
    21004610-5
    APU
    210046105

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9403
    Latitude
    42.4145
    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
    $8,082
    $0.00
    $0.00
    $124,000
    -
    $0.00
    $0.00
    $248,000

    Comparable in this City

    • Value Estimation by Request
      732 SF

      16511 Harper Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 732 SF
      16511 Harper Ave, Detroit, MI 48224-1944
      View Details
    • Value Estimation
      $300,000
      3,387 SF

      17440 Warren Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,387 SF
      17440 Warren Ave, Detroit, MI 48224-2102
      View Details
    • Value Estimation by Request
      2,596 SF

      18001 Kelly Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,596 SF
      18001 Kelly Rd, Detroit, MI 48224-1565
      View Details
    • Value Estimation by Request
      1,800 SF

      19182 Kelly Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,800 SF
      19182 Kelly Rd, Grosse Pointe, MI 48224-1068
      View Details
    • Value Estimation by Request
      2,983 SF

      17040 Harper Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,983 SF
      17040 Harper Ave, Detroit, MI 48224-1903
      View Details
    • Value Estimation by Request
      1,897 SF

      17195 Harper Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,897 SF
      17195 Harper Ave, Detroit, MI 48224-1904
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,256 SF

      Former Bank Branch For Sale

      4,256 SF building with drive-thru and ample parking.
      12336 Morang Dr, Detroit, MI 48224
      View Details
    • $650,000
      2,860 SF

      Detroit Retail Opportunity For Sale

      2,860 SF retail property in Detroit, Michigan.
      18001 Kelly Rd, Detroit, MI 48224
      View Details
    • New
      $274,999
      4,828 SF

      Detroit Restaurant/Banquet Hall Opportunity

      Restaurant/banquet hall opportunity in Detroit, convert to nightclub or bar/grill.
      11233 Morang Dr, Detroit, MI 48224
      View Details
    • $274,900
      2,955 SF

      Detroit Commercial Property on Kelly

      Renovated commercial property with high visibility and flexible potential uses.
      18901 Kelly Rd, Detroit, MI 48224
      View Details
    • New
      $99,900
      2,200 SF

      Commercial Building with Apartment

      2,200 SF commercial building with a 3-bedroom apartment.
      15144 Harper Ave, 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

    Similar Nearby for Lease

    • Contact for pricing
      6,459 SF

      Prime Detroit Retail Space

      6,459 SF Vacant Retail Building
      16729 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
    • $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
    • $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
    • $19 SF/Yr
      1,038 SF

      Retail Space on Warren Avenue

      Retail space available for lease in Detroit, Michigan.
      16103-16155 W Warren Ave, Detroit, MI 48224
      View Details
    • $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

    Property Visit Statistics

    • Visits by month
      11.0k
    • Visitors by month
      6.9k
    • Avg Time on site
      12 min
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    Detroit, MI 48224-1908
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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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