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

    17400 Savage Rd Belleville, MI 48111-9805

    • Grocery and convenience stores
    • 5,920 SF
    • 0.67 lot acres
    OFF-MARKET
    Last Sale
    Jun 10, 2022
    $400,000
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-5028925
    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

    • Joe's Appliance Service And Repair / Appliance Repair Service

    Property Details for 17400 Savage Rd

    Year built
    1965
    Lot size
    0.67 lot acres
    Property size
    5,920 SF
    Property type
    Grocery and convenience stores
    APN
    81 002 01 0005 002
    APU
    81002010005002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $445,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $728,000
      Market price range: $729k - $2.21M
      AI Estimate
      $728,000
      Market price range: $729k - $2.21M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $470,000
      Current use
      COMMERCIAL (GENERAL)
      $650,000
      Change: +38% Conversion: Easy
      RESTAURANT
      $615,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $575,000
      Change: +22% Conversion: Moderate
      MEDICAL BUILDING
      $555,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $450,000
      Change: -4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $425,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4357
    Latitude
    42.176
    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
    $7,372
    $0.00
    $0.00
    $152,000
    -
    $0.00
    $0.00
    $304,000

    Comparable in this City

    • Value Estimation by Request
      2,868 SF

      7175 Rawsonville Rd

      CONVENIENCE STORE • 2,868 SF
      7175 Rawsonville Rd, Van Buren Township, MI 48111-2564
      View Details
    • Value Estimation by Request
      6,415 SF

      25 Huron Riv Dr

      CONVENIENCE STORE • 6,415 SF
      25 Huron Riv Dr, Belleville, MI 48111-2755
      View Details
    • Value Estimation by Request
      912 SF

      11250 Haggerty Rd

      CONVENIENCE STORE • 912 SF
      11250 Haggerty Rd, Van Buren Township, MI 48111-3452
      View Details
    • Value Estimation by Request
      765 SF

      573 Main St

      CONVENIENCE STORE • 765 SF
      573 Main St, Belleville, MI 48111-2649
      View Details
    • Value Estimation by Request
      1,650 SF

      496 Main St

      CONVENIENCE STORE • 1,650 SF
      496 Main St, Belleville, MI 48111-2650
      View Details
    • Value Estimation by Request
      7,002 SF

      49230 Michigan Ave

      CONVENIENCE STORE • 7,002 SF
      49230 Michigan Ave, Van Buren Township, MI 48111-1037
      View Details

    Similar Nearby for Sale

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      2,646 SF

      Belleville Storefront: Prime Redevelopment

      Historic Belleville storefront, 2,646 sq ft, redevelopment opportunity.
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    • $350,000
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      Belleville, MI Real Estate Investment

      Income-generating commercial building near downtown Belleville.
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    • $749,000
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      Belleville Storefront - Main Street

      Prime Belleville retail space, high traffic location.
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    • $749,000
      7,761 SF

      Belleville Commercial Building on Main

      7,000+ sqft commercial building on high-traffic Main Street.
      209 Main St, Belleville, MI 48111
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    • $1,380,000
      6.03 Acres

      Belleville Truck Terminal & Shop

      6-Acre Logistics Hub near I-94
      6630 Rawsonville Rd, Belleville, MI 48111
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    • Contact for pricing
      5,895 SF

      Retail Center on Main Street

      Multi-tenant retail center with frontage on Main Street in Belleville.
      504 Main St, Belleville, MI 48111
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      23,850 SF

      Belleville Road Retail Spaces

      High-traffic retail spaces available.
      10840 Belleville Rd, Van Buren Charter Township, MI 48111
      View Details
    • $3,000,000
      28,830 SF

      Belleville Automotive/Retail Property For Rent

      28,830 SF automotive/retail property with I-275 frontage.
      8881 Samuel Barton Dr, Belleville, MI 48111
      View Details
    • $12 SF/Yr
      8,873 SF

      Belleville Retail Space Available

      8,873 SF retail space with large basement for storage.
      444 Main St, Belleville, MI 48111
      View Details
    • $10 SF/Yr
      1,000 SF

      Retail Center at Busy Corner

      Neighborhood retail center with suites available for immediate occupancy.
      41001 E Huron River Dr, Belleville, MI 48111
      View Details
    • $2,800 /Mo
      2,302 SF

      Downtown Belleville Commercial Space Available

      Two-story commercial property in a vibrant, high-visibility Belleville location.
      369 Main St, Belleville, MI 48111
      View Details
    • Contact for pricing
      937 SF

      Meijer In-Store Retail Space

      937 sq ft retail space in prime location
      9701 Belleville Rd, Belleville, MI 48111
      View Details
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    17400 Savage Rd
    Belleville, MI 48111-9805
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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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