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    Property profile & analytics

    2215 Schaefer Rd Melvindale, MI 48122-1354

    • Turn key restaurants
    • 5,047 SF
    • 0.61 lot acres
    OFF-MARKET
    Value Estimation
    Last Sale
    Mar 01, 2024
    Location Intelligence
    Property ID
    US43-5120566
    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

    • Turn key restaurants

    Property Details for 2215 Schaefer Rd

    Year built
    1940
    Lot size
    0.61 lot acres
    Property size
    5,047 SF
    Zone code
    M1 LIGH
    Property type
    Turn key restaurants
    APN
    47 001 02 0533 000
    APU
    47001020533000

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Melvindale
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1634
    Latitude
    42.2846
    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
    $9,687
    $0.00
    $0.00
    $120,500
    -
    $0.00
    $0.00
    $241,000

    Comparable in this City

    • Value Estimation
      $145,000
      1,200 SF

      4122 Oakwood Blvd

      RESTAURANT • 1,200 SF
      4122 Oakwood Blvd, Melvindale, MI 48122-1408
      View Details
    • Value Estimation
      $170,000
      3,100 SF

      3051 Oakwood Blvd

      RESTAURANT • 3,100 SF
      3051 Oakwood Blvd, Melvindale, MI 48122-1209
      View Details
    • Value Estimation by Request
      4,460 SF

      19333 Dix Rd

      RESTAURANT • 4,460 SF
      19333 Dix Rd, Melvindale, MI 48122-1823
      View Details
    • Value Estimation by Request
      1,200 SF

      4114 Oakwood Blvd

      RESTAURANT • 1,200 SF
      4114 Oakwood Blvd, Melvindale, MI 48122-1408
      View Details
    • Value Estimation
      $65,000
      1,539 SF

      3741 Oakwood Blvd

      RESTAURANT • 1,539 SF
      3741 Oakwood Blvd, Melvindale, MI 48122-1501
      View Details
    • Value Estimation by Request
      551 SF

      18831 Allen Rd

      RESTAURANT • 551 SF
      18831 Allen Rd, Melvindale, MI 48122-1534
      View Details

    Similar Nearby for Sale

    • $420,000
      3,360 SF

      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
      View Details
    • $319,900
      2,745 SF

      Melvindale Retail Property For Sale

      Retail property in Melvindale, MI, with commercial zoning.
      18906 Allen Rd, Melvindale, MI 48122
      View Details
    • $164,999
      800 SF

      Turn-Key Salon in Melvindale, MI

      Salon in high-traffic area near Allen Road and Oakwood.
      18643 Allen Rd, Melvindale, MI 48122
      View Details
    • Contact for pricing
      3.03 Acres

      Melvindale Commercial Land Opportunity

      3.03 Acres, High Visibility, C-1 Zoning
      3600 Oakwood Blvd, Melvindale, MI 48122
      View Details
    • $695,000

      Melvindale Commercial Building For Sale

      Commercial building in Melvindale, 100% leased, great tenant.
      17431 Dix Rd, Melvindale, MI 48122
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      102,400 SF

      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

      Industrial Space with Main Road Exposure

      Clean, well-maintained industrial space with excellent main road exposure.
      17950 Allen Rd, Melvindale, MI 48122
      View Details
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    2215 Schaefer Rd
    Melvindale, MI 48122-1354
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    Realmo Value Estimation

    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.

    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.

    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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