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    Property profile & analytics

    18919 Dix Rd Melvindale, MI 48122-1817

    • Motels
    • 6,297 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    Mar 05, 2021
    $290,000
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    8.5%
    Motels
    Location Intelligence
    Property ID
    US43-1820874
    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

    • Mel Plaza Motel / Motel

    Property Details for 18919 Dix Rd

    Lot size
    0.49 lot acres
    Property size
    6,297 SF
    Zone code
    R1 1 FA
    Property type
    Motels
    APN
    47 004 01 0641 001
    APU
    47004010641001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $290,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $275,000
      6.5%
      $250,000
      7%
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $473,000
      Market price range: $194k - $614k
      AI Estimate
      $473,000
      Market price range: $194k - $614k

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

    Location Insight

    • Map
    • Local Demand
    City
    Melvindale
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1788
    Latitude
    42.273
    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
    $14,880
    $0.00
    $0.00
    $173,700
    -
    $0.00
    $0.00
    $347,400

    Comparable in this City

    • Value Estimation by Request
      11,872 SF

      17050 Raupp St

      MOTEL • 11,872 SF
      17050 Raupp St, Melvindale, MI 48122-1361
      View Details
    • Value Estimation by Request
      4,308 SF

      18734 Dix Rd

      MOTEL • 4,308 SF
      18734 Dix Rd, Melvindale, MI 48122-1862
      View Details
    • Value Estimation
      $720,000
      5,962 SF

      2829 Oakwood Blvd

      MOTEL • 5,962 SF
      2829 Oakwood Blvd, Melvindale, MI 48122-1242
      View Details
    • Value Estimation by Request
      30,100 SF

      17600 Dix Rd

      MOTEL • 30,100 SF
      17600 Dix Rd, Melvindale, MI 48122-2306
      View Details
    • Value Estimation by Request
      8,267 SF

      17355 Raupp St

      MOTEL • 8,267 SF
      17355 Raupp St, Melvindale, MI 48122-1362
      View Details
    • Value Estimation by Request
      0.56 Acres

      Melvindale, MI 48122

      INDUSTRIAL (GENERAL) • 0.56 Acres
      Melvindale, MI 48122
      View Details

    Similar Nearby for Sale

    • $149,999

      Melvindale Commercial Land For Sale

      Prime location commercial land, great opportunity to start a business.
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    • $399,900
      8,000 SF

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      Industrial properties • 8,000 SF
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    • $420,000
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      Dix Road Retail Opportunity

      Prime Melvindale Retail Space - $420,000
      17485 Dix Rd, Melvindale, MI 48122
      View Details
    • $420,000
      3,360 SF

      Retail Building with Ample Frontage

      Well-maintained retail building suitable for various business uses.
      17485 Dix Rd, Melvindale, MI 48122
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    • $279,900
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      Melvindale Industrial Building - For Sale

      Spacious Industrial Building, Ample Parking
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    • $300,000
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    Similar Nearby for Lease

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      Melvindale Distribution Building For Rent

      102,400 square foot distribution building available for lease.
      18765 Seaway Dr, Melvindale, MI 48122
      View Details
    • $7,900 /Mo

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      Clean, well-maintained industrial space with excellent main road exposure.
      17950 Allen Rd, Melvindale, MI 48122
      View Details
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    18919 Dix Rd
    Melvindale, MI 48122-1817
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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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