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    Property profile & analytics

    20481 Mack Ave Grosse Pointe Woods, MI 48236-1654

    • Individual retail properties
    • 2,750 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Nov 12, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0926074
    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

    • Individual retail properties

    Property Details for 20481 Mack Ave

    Year built
    1954
    Lot size
    0.13 lot acres
    Property size
    2,750 SF
    Zone code
    C
    Property type
    Individual retail properties
    APN
    40 007 03 0039 001
    APU
    40007030039001

    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
    Grosse Pointe Woods
    County
    Wayne
    State
    Michigan
    Longitude
    -82.9081
    Latitude
    42.4403
    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
    2022
    $10,438
    $0.00
    $0.00
    $160,200
    -
    $0.00
    $0.00
    $320,400

    Comparable in this City

    • Value Estimation by Request
      2,823 SF

      20948 Mack Ave

      DRY CLEANER • 2,823 SF
      20948 Mack Ave, Grosse Pointe Woods, MI 48236-1355
      View Details
    • Value Estimation by Request
      2,100 SF

      21138 Mack Ave

      DRY CLEANER • 2,100 SF
      21138 Mack Ave, Grosse Pointe Woods, MI 48236-1044
      View Details
    • Value Estimation by Request
      768 SF

      21123 Mack Ave

      BARBER, HAIR SALON • 768 SF
      21123 Mack Ave, Grosse Pointe Woods, MI 48236-1043
      View Details
    • Value Estimation by Request
      2,572 SF

      18500 Mack Ave

      DRY CLEANER • 2,572 SF
      18500 Mack Ave, Grosse Pointe Farms, MI 48236-3223
      View Details
    • Value Estimation by Request
      1,680 SF

      18451 Mack Ave

      DRY CLEANER • 1,680 SF
      18451 Mack Ave, Grosse Pointe, MI 48236-3239
      View Details
    • Value Estimation by Request
      3,959 SF

      20119 Mack Ave

      DRY CLEANER • 3,959 SF
      20119 Mack Ave, Grosse Pointe Woods, MI 48236-1819
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      600 SF

      Retail Space For Sale

      Retail space available for purchase, tenant in place.
      18441 Mack Ave, Detroit, MI 48236
      View Details
    • Contact for pricing
      0.08 Acres

      Residential Land in Grosse Pointe

      Vacant land within walking distance to the Q-Line.
      314 Mount Vernon Ave, Grosse Pointe Farms, MI 48236
      View Details
    • Contact for pricing
      0.08 Acres

      Detroit Vacant Land Opportunity

      Vacant land in Detroit's North End neighborhood.
      302 Mount Vernon Ave, Detroit, MI 48236
      View Details
    • Contact for pricing
      0.08 Acres

      Detroit Vacant Land Bundle

      Four Detroit lots totaling 13,211 sqft near Q-Line.
      259 Mount Vernon Ave, Detroit, MI 48236
      View Details
    • Contact for pricing
      600 SF

      Established Business Opportunity For Sale

      Well-established business in ideal location, great investment opportunity.
      18441 Mack Ave, Grosse Pointe, MI 48236
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Grosse Pointe Retail/Office/Medical Space

      Freestanding 3,278 SF building suitable for retail, office, or medical.
      20419 Mack Ave, Grosse Pointe, MI 48236
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      107 Kercheval Ave, Grosse Pointe Farms, MI 48236
      View Details
    • Contact for pricing

      Mack Avenue Retail/Office Space

      Located on Mack Avenue in Grosse Pointe Woods.
      21300 Mack Ave, Grosse Pointe Woods, MI 48236
      View Details
    • $1,450 /Mo
      3,470 SF

      Renovated Office Space on Mack

      Newly renovated office space in Grosse Pointe Woods available for lease.
      20227 Mack Ave, Grosse Pointe Woods, MI 48236
      View Details
    • $1,500 /Mo
      1,117 SF

      Grosse Pointe Woods Office Space

      Renovated office space in Grosse Pointe Woods, suitable for retail.
      19822 Mack Ave, Grosse Pointe Woods, MI 48236
      View Details
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    20481 Mack Ave
    Grosse Pointe Woods, MI 48236-1654
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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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