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    2051 N Wixom Rd Wixom, MI 48393
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    Property profile & analytics

    2051 N Wixom Rd Wixom, MI 48393

    View on Map
    • Outlet malls
    • 45,464 SF
    • 5.31 lot acres
    For Sale
    $4,950,000
    View Listing →
    Retail Space in North Park Plaza For Sale
    $4,950,000
    44,000 SF

    Retail Space in North Park Plaza

    Retail space available in North Park Plaza shopping center.

    2051 N Wixom Rd, Wixom, MI 48393
    View Listing
    Property ID
    US43-0673735
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mexican Fiesta IV / Restaurant

    Property Details for 2051 N Wixom Rd

    Year built
    2000
    Lot size
    5.31 lot acres
    Property size
    45,464 SF
    Zone code
    B-2
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    96-17-30-200-015
    APU
    961730200015

    Description

    North Park Plaza, located at 2051 N Wixom Rd in Wixom, Michigan (48393), offers exceptional retail space within a thriving strip center. This 44,000 square foot property boasts a fantastic location at the southwest corner of Wixom and Loon Lake Road, ensuring high visibility and accessibility. The center is currently home to established businesses such as Dollar Tree, Marcos Pizza, and Fit Body Boot Camp, creating a strong tenant mix and a vibrant atmosphere. Available spaces range from 1,500 to 8,000 square feet and 7,000 to 14,000 square feet, providing flexibility for various retail, office, or medical users. Ample parking is available, along with smooth ingress and egress, ensuring convenient access for customers and employees. This prime location in Oakland County offers excellent opportunities for businesses seeking high traffic and a strong community presence. The property's strategic placement and existing successful tenants make it an ideal investment for businesses looking to establish or expand their presence in the Wixom market. Contact us today to learn more about the available spaces and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,463,000
      Market price range: $3.57M - $11.9M
      AI Estimate
      $4,437,000
      Market price range: $2.84M - $9.87M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,675,000
      Current use
      COMMERCIAL (GENERAL)
      $8,010,000
      Change: +4% Conversion: Easy
      RESTAURANT
      $7,870,000
      Change: +3% Conversion: Easy
      MEDICAL BUILDING
      $7,175,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5393
    Latitude
    42.5525
    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
    $57,430
    $0.00
    $0.00
    $1,834,190
    -
    $0.00
    $0.00
    $3,668,380

    Comparable in this City

    • Value Estimation
      $1,845,000
      7,695 SF

      28850 Wixom Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 7,695 SF
      28850 Wixom Rd, Wixom, MI 48393-3414
      View Details
    • Value Estimation
      $2,605,000
      15,033 SF

      48900 12th Mile Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 15,033 SF
      48900 12th Mile Rd, Wixom, MI 48393-3715
      View Details
    • Value Estimation
      $17,745,000
      233,158 SF

      10400 Assembly Park Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 233,158 SF
      10400 Assembly Park Dr, Wixom, MI 48393-0009
      View Details
    • Value Estimation
      $1,700,000
      7,540 SF

      49582 Grand Riv Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 7,540 SF
      49582 Grand Riv Ave, Wixom, MI 48393-3301
      View Details
    • Value Estimation
      $19,390,000
      208,276 SF

      49900 Grand Riv Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 208,276 SF
      49900 Grand Riv Ave, Wixom, MI 48393-3308
      View Details
    • Value Estimation
      $16,435,000
      233,158 SF

      10400 Assembly Park Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 233,158 SF
      10400 Assembly Park Dr, Wixom, MI 48393-0009
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      44,000 SF

      Retail Space in North Park Plaza

      Retail space available in North Park Plaza shopping center.
      2051 N Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      6,926 SF

      Freestanding Building on 1.4 Acres

      6,926 SF remodeled building on 1.4 acres for sale.
      29710 Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      9,600 SF

      Wixom Commercial Facility For Sale

      9,600 SF commercial facility on 12.71-acre lot in Wixom.
      29250 Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      1,493 SF

      Versatile Commercial Property for Sale

      Commercial property with flexible zoning, ideal for various business uses.
      50274 Grand River Ave, Wixom, MI 48393
      View Details
    • $2,300,000
      8,240 SF

      Turn-Key Brewery Production Facility

      Fully equipped brewery and beverage production facility in Wixom.
      28800 Wall St, Wixom, MI 48393
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,000 SF

      Retail Space in North Park Plaza

      Retail, office, and medical spaces available in Wixom, Michigan.
      2051 N Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      44,000 SF

      Retail Space in North Park Plaza

      High-visibility retail spaces available in Wixom, near I-96.
      2051-2133 N Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing

      Wixom Retail/Office Space Available

      Retail and office spaces for lease in Wixom, Michigan.
      1537-1585 N Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing

      Retail, Office, Medical Space Available

      Retail, office, or medical spaces in downtown Wixom.
      49078 Pontiac Trl, Wixom, MI 48393
      View Details
    • Contact for pricing

      Retail Space on Pontiac Trail

      Retail spaces available for lease on Pontiac Trail.
      47410-47472 Pontiac Trl, Wixom, MI 48393
      View Details
    • Contact for pricing

      Wixom Road Office/Retail Space

      Office and retail space for lease on busy Wixom Road.
      29650-29680 Wixom Rd, Wixom, MI 48393
      View Details
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    Wixom, MI 48393
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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.

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