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    16729 E Warren Ave Detroit, MI 48224
    Property profile & analytics

    16729 E Warren Ave, Detroit, MI 48224

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    • Banks
    • 6,459 SF
    • 0.28 lot acres
    For Sale
    $300,000
    View Listing →
    Retail Space Available For Sale
    $300,000
    6,459 SF

    Retail Space Available

    Retail space with 6,459 SqFt available for sale.

    16729 E. Warren Avenue, Detroit, MI 48224
    View Listing
    Property ID
    US43-0369583
    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

    • Banks

    Property Details for 16729 E Warren Ave

    Year built
    1964
    Lot size
    0.28 lot acres
    Zone code
    B4
    Property type
    Banks
    APN
    21002912-7
    APU
    210029127

    Description

    This exceptional 6,459-square-foot retail building, located at 16729 E Warren Ave in Detroit, Michigan, presents a unique investment opportunity. Situated on a 0.28-acre lot, this single-tenant property boasts a prominent location in the Detroit E of Woodward submarket, easily accessible via Outer Dr. Built in 1964, the two-story structure offers ample space for a variety of retail uses. The building is currently entirely vacant, providing immediate occupancy for a new tenant. Key features include 220-volt, 3-phase power, making it suitable for businesses with significant energy demands. The property's zoning is designated as B4, allowing for a range of commercial activities. Its previous use as a bank, complete with a drive-thru, offers a distinct advantage for businesses seeking convenient customer access. The Wayne County property, with APN 21002912-7, and its 48224 zip code, provides excellent visibility and accessibility within a thriving commercial area. This is an ideal opportunity for an entrepreneur or investor seeking a well-located, substantial retail space in a dynamic Detroit neighborhood. The building's size and features make it suitable for a wide range of retail concepts. The vacant status allows for complete customization to meet the specific needs of a new tenant. This property offers significant potential for growth and return on investment.

    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
    -82.9335
    Latitude
    42.405
    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
    $15,856
    $0.00
    $0.00
    $253,700
    -
    $0.00
    $0.00
    $507,400

    Comparable in this City

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      124 SF

      16235 Warren Ave

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      16235 Warren Ave, Detroit, MI 48224-3266
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      3,619 SF

      6181 Cadieux Rd

      FINANCIAL BUILDING
      6181 Cadieux Rd, Detroit, MI 48224-2005
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      3,780 SF

      17101 Mack Ave

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      2,000 SF

      9908 Whittier St

      RETAIL STORES (PERSONAL SERVICES)
      9908 Whittier St, Detroit, MI 48224-1811
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    • Value Estimation by Request
      4,624 SF

      10330 Whittier St

      RETAIL STORES (PERSONAL SERVICES)
      10330 Whittier St, Detroit, MI 48224-1709
      View Details

    Similar Nearby for Sale

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      4,256 SF

      Former Bank Branch For Sale

      4,256 SF building with drive-thru and ample parking.
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      5,591 SF

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      5,591 SF building with basement, drive-thru, and parking.
      11511 Kelly Rd, Detroit, MI 48224
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      2,854 SF

      Multi-Tenant Retail Building For Sale

      Multi-tenant retail building with current tenants.
      12401 Morang Ave, Detroit, MI 48224
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    Similar Nearby for Lease

    • Contact for pricing
      10,239 SF

      Retail Space Sublease Opportunity

      10,239 SF retail space available for sublease.
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      Corner Lot Commercial Building For Rent

      Corner lot commercial building with excellent traffic exposure available for rent.
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      Retail Space Available For Rent

      Single tenant retail space available, approximately 2,854 square feet.
      12401 Morang Ave, Detroit, MI 48224
      View Details
    View Listing
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    Detroit, MI 48224
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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.

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