Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    17611 Schoolcraft St Detroit, MI 48227-1346

    • Auto shops
    • 3,493 SF
    • 0.24 lot acres
    OFF-MARKET
    Last Sale
    Oct 29, 2020
    $435,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0301555
    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

    • Auto shops

    Property Details for 17611 Schoolcraft St

    Year built
    1948
    Lot size
    0.24 lot acres
    Property size
    3,493 SF
    Zone code
    B4
    Property type
    Auto shops
    APN
    22008806-10
    APU
    2200880610

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2153
    Latitude
    42.3864
    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
    $4,062
    $0.00
    $0.00
    $69,900
    -
    $0.00
    $0.00
    $139,800

    Comparable in this City

    • Value Estimation by Request
      3,087 SF

      12902 Fenkell St

      AUTO REPAIR, GARAGE • 3,087 SF
      12902 Fenkell St, Detroit, MI 48227-4067
      View Details
    • Value Estimation by Request
      1,271 SF

      13241 Fenkell St

      AUTO REPAIR, GARAGE • 1,271 SF
      13241 Fenkell St, Detroit, MI 48227-3653
      View Details
    • Value Estimation by Request
      4,674 SF

      12990 Eaton St

      AUTO REPAIR, GARAGE • 4,674 SF
      12990 Eaton St, Detroit, MI 48227-3946
      View Details
    • Value Estimation by Request
      3,224 SF

      13661 Chadwick St

      AUTO REPAIR, GARAGE • 3,224 SF
      13661 Chadwick St, Detroit, MI 48227-3044
      View Details
    • Value Estimation by Request
      3,391 SF

      12700 Greenfield Rd

      AUTO REPAIR, GARAGE • 3,391 SF
      12700 Greenfield Rd, Detroit, MI 48227-2168
      View Details
    • Value Estimation by Request
      4,481 SF

      12117 Greenfield Rd

      AUTO REPAIR, GARAGE • 4,481 SF
      12117 Greenfield Rd, Detroit, MI 48227-2020
      View Details

    Similar Nearby for Sale

    • $109,600

      Established Mechanic Shop For Sale

      Ready-to-operate mechanic shop in high-visibility location, serving community since 2019.
      15405 Schoolcraft St, Detroit, MI 48227
      View Details
    • $499,000
      12,617 SF

      Detroit Commercial Property with Auto Lifts

      Versatile commercial property with auto lifts and expansion potential.
      15735 Schaefer Rd, Detroit, MI 48227
      View Details
    • $250,000

      Detroit Auto Shop For Sale

      1880 SF auto shop with new features for sale.
      16121 Plymouth Rd, Detroit, MI 48227
      View Details
    • $230,197

      Automobile Repair and Service Garage

      6000 Sq. Ft. auto service garage for sale.
      13960 Meyers Rd, Detroit, MI 48227
      View Details
    • $144,000

      Detroit Automotive Garage For Sale

      Three-bay automotive garage in Detroit, approximately 1,500 sq ft.
      13241 Fenkell St, Detroit, MI 48227
      View Details
    • $799,000

      Automotive Collision Facility For Sale

      State-of-the-art 16,200 SF automotive collision facility.
      14410 Meyers Rd, Detroit, MI 48227
      View Details

    Similar Nearby for Lease

    • $15,000 /Mo

      Equipped Auto Repair Shop For Lease

      Fully equipped auto repair shop on highly traveled Greenfield Rd.
      10000 Greenfield Rd, Detroit, MI 48227
      View Details
    • $2,700 /Mo
      6,000 SF

      Versatile Detroit Building for Lease

      6,000 sq ft building suitable for retail or industrial use.
      15832 Plymouth Rd, Detroit, MI 48227
      View Details
    • $3,000 /Mo

      Turnkey Hair Salon in Detroit

      Fully equipped hair salon for lease in high-traffic Detroit location.
      14811 Plymouth Rd, Detroit, MI 48227
      View Details
    • $15 SF/Yr
      14,762 SF

      Schaefer Square Plaza Retail Space

      High-traffic retail space, Detroit. Excellent visibility.
      13427 Schaefer Hwy, Detroit, MI 48227
      View Details
    • Contact for pricing
      3,000 SF

      Bar/Restaurant Space Available

      Bar/Restaurant space for lease with included kitchen and appliances.
      14906 Schaefer Hwy, Detroit, MI 48227
      View Details
    • $4 SF/Yr
      44,000 SF

      Schaefer Hwy Industrial Building

      44,000 SF Detroit Industrial Space
      14225 Schaefer Hwy, Detroit, MI 48227
      View Details
    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.
    17611 Schoolcraft St
    Detroit, MI 48227-1346
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.