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    Property profile & analytics

    230 North Ave Mount Clemens, MI 48043

    • Office buildings
    • 3,825 SF
    • 0.37 lot acres
    For Sale
    View listing
    $400,000
    Last Sale
    May 01, 2024
    $196,000
    Value Estimations
    Cap Rate Potential
    7.2%
    Office buildings
    Location Intelligence
    Property ID
    US43-1669412
    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

    • Office buildings

    Property Details for 230 North Ave

    Year built
    1960
    Lot size
    0.37 lot acres
    Property size
    3,825 SF
    Zone code
    R1-B
    Property type
    Office buildings
    APN
    05-11-11-258-001
    APU
    51111258001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $195,000
      ML approach
      $195,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $235,000
      6.5%
      $215,000
      7%
      $200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $218,000
      Market price range: $160k - $279k
      AI Estimate
      $218,000
      Market price range: $160k - $279k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $225,000
      Current use
      WAREHOUSE, STORAGE
      $260,000
      Change: +14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Clemens
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8796
    Latitude
    42.6072
    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
    $7,276
    $0.00
    $0.00
    $144,900
    -
    $0.00
    $0.00
    $289,800

    Comparable in this City

    • Value Estimation by Request
      1,239 SF

      67 Cass Ave, Unit 8

      OFFICE BUILDING • 1,239 SF
      67 Cass Ave, Mount Clemens, MI 48043-2347
      View Details
    • Value Estimation by Request
      8,541 SF

      65 Market St

      OFFICE BUILDING • 8,541 SF
      65 Market St, Mount Clemens, MI 48043-5601
      View Details
    • Value Estimation by Request
      1,046 SF

      67 Cass Ave, Unit 11

      OFFICE BUILDING • 1,046 SF
      67 Cass Ave, Mount Clemens, MI 48043-2347
      View Details
    • Value Estimation by Request
      1,386 SF

      67 Cass Ave, Unit 19

      OFFICE BUILDING • 1,386 SF
      67 Cass Ave, Mount Clemens, MI 48043-2347
      View Details
    • Value Estimation by Request
      1,026 SF

      67 Cass Ave, Unit 43

      OFFICE BUILDING • 1,026 SF
      67 Cass Ave, Mount Clemens, MI 48043-2347
      View Details
    • Value Estimation by Request
      1,192 SF

      67 Cass Ave, Unit 27

      OFFICE BUILDING • 1,192 SF
      67 Cass Ave, Mount Clemens, MI 48043-2347
      View Details

    Similar Nearby for Sale

    • $495,000
      7,000 SF

      Downtown Mount Clemens Office Building

      Rare office building near courts, restaurants, and major routes.
      77 S Main St, Mount Clemens, MI 48043
      View Details
    • Contact for pricing
      31,906 SF

      Downtown Mt. Clemens Redevelopment Opportunity

      31,906 SF building in Mt. Clemens for sale/lease.
      7 North Main St, Mount Clemens, MI 48043
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    • Contact for pricing
      60,000 SF

      Downtown Mt. Clemens Redevelopment Opportunity

      Seven-story, 60,000 SF building on 1.23 acres in downtown Mt. Clemens.
      67 Cass Ave, Mount Clemens, MI 48043
      View Details
    • $444,000

      Historic Building in Mt. Clemens

      Historic office and retail building in move-in condition.
      56 Macomb Pl, Mount Clemens, MI 48043
      View Details
    • $225,000
      2,000 SF

      Mount Clemens Office Investment Opportunity

      Office building in Mount Clemens with ample parking and easy access.
      289 Southbound Gratiot Ave, Mount Clemens, MI 48043
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    • $310,000
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      Updated Office Building For Sale

      2,204 SF office building in downtown Mount Clemens.
      117 Crocker Blvd, Mount Clemens, MI 48043
      View Details

    Similar Nearby for Lease

    • $1,974 /Mo

      Downtown Mount Clemens Office Space

      Professionally managed office building in walkable downtown location.
      10 S Main St, Mount Clemens, MI 48043
      View Details
    • $10 SF/Yr
      16,827 SF

      Mount Clemens Office Space Available

      16,827 SF Office Building, 5,482 SF Vacant
      176 Main St, Mount Clemens, MI 48043
      View Details
    • $1,200 /Mo
      3,825 SF

      Mt. Clemens Commercial Suite

      Versatile commercial suite ideal for medical, professional, or small business.
      230 North Ave, Mount Clemens, MI 48043
      View Details
    • $2,100 /Mo

      Downtown Mount Clemens Retail/Office Space

      Prime retail or office space in downtown Mount Clemens.
      70 Cherry St, Mount Clemens, MI 48043
      View Details
    • $3,368 /Mo

      Downtown Mt Clemens Office Space

      Professional office space in downtown Mt Clemens, flexible layouts.
      70-82 Macomb Pl, Mount Clemens, MI 48043
      View Details
    • $10 SF/Yr
      84,000 SF

      Mt. Clemens Commercial Space Available

      Prime Retail & Industrial Space, Multiple Tenants
      80 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
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    230 North Ave
    Mount Clemens, MI 48043
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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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