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

    18077 Kelly Rd Detroit, MI 48224-1565

    • Strip malls
    • 12,952 SF
    • 0.62 lot acres
    OFF-MARKET
    Value Estimations
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1761567
    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

    • LIQUOR CAPTAIN / Liquor Store
    • TJFashion / Clothing Store

    Property Details for 18077 Kelly Rd

    Year built
    2004
    Lot size
    0.62 lot acres
    Property size
    12,952 SF
    Zone code
    B4
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    21057310-8
    APU
    210573108

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $978,000
      Market price range: $449k - $1.18M
      AI Estimate
      $542,000
      Market price range: $389k - $791k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $980,000
      Current use
      COMMERCIAL (GENERAL)
      $1,180,000
      Change: +21% Conversion: Easy
      RESTAURANT
      $1,180,000
      Change: +20% Conversion: Difficult
      MEDICAL BUILDING
      $815,000
      Change: -17% Conversion: Difficult
      OFFICE BUILDING
      $800,000
      Change: -19% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $785,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9579
    Latitude
    42.429
    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
    $24,605
    $0.00
    $0.00
    $371,400
    -
    $0.00
    $0.00
    $742,800

    Comparable in this City

    • Value Estimation
      $530,000
      9,820 SF

      17241 Warren Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 9,820 SF
      17241 Warren Ave, Detroit, MI 48224-2278
      View Details
    • Value Estimation by Request
      7,907 SF

      17540 Chester St

      WHOLESALE OUTLET, DISCOUNT STORE • 7,907 SF
      17540 Chester St, Detroit, MI 48224-1212
      View Details
    • Value Estimation
      $1,080,000
      27,623 SF

      18165 Mack Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 27,623 SF
      18165 Mack Ave, Detroit, MI 48224-1444
      View Details
    • Value Estimation
      $525,000
      8,653 SF

      12430 Morang Dr

      MINI-MALL • 8,653 SF
      12430 Morang Dr, Detroit, MI 48224-1509
      View Details
    • Value Estimation by Request
      3,740 SF

      16437 Harper Ave

      MINI-MALL • 3,740 SF
      16437 Harper Ave, Detroit, MI 48224-2618
      View Details
    • Value Estimation by Request
      3,598 SF

      16929 Harper Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,598 SF
      16929 Harper Ave, Detroit, MI 48224-1901
      View Details

    Similar Nearby for Sale

    • $479,040
      3,120 SF

      Detroit Commercial Strip For Sale

      Income-producing commercial strip near I-94 and Eastland shopping center.
      19151 Kelly Rd, 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
    • $120,000

      Retail Property with Inventory Included

      Retail property featuring basement, garage, and included inventory.
      11109 Morang Dr, Detroit, MI 48224
      View Details
    • $295,000

      Multi-Use Building with Church

      Multi-use building with church, storefronts, and apartments.
      15635 Mack Ave, Detroit, MI 48224
      View Details
    • $898,000

      Profitable Dry Cleaning Business Opportunity

      Established dry cleaning business for sale with equipment and real estate.
      15923 E Warren Ave, Detroit, MI 48224
      View Details
    • $274,999
      4,828 SF

      Detroit Restaurant/Banquet Hall Opportunity

      Restaurant/banquet hall with full kitchen, ready for new business.
      11233 Morang Dr, Detroit, MI 48224
      View Details

    Similar Nearby for Lease

    • $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
    • 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
    • $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
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    18077 Kelly Rd
    Detroit, MI 48224-1565
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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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