Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    23012 Schoenherr Rd Warren, MI 48089-2606

    • Grocery and convenience stores
    • 3,252 SF
    • 1.01 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0133346
    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

    • Exxon / Gas Station
    • 7-Eleven / Convenience Store
    • Citibank ATM / Atm
    • Western Union / Money Transfer Service
    • Amazon Locker - Efficient / Mailing Service / E-Commerce Service

    Property Details for 23012 Schoenherr Rd

    Year built
    1998
    Lot size
    1.01 lot acres
    Property size
    3,252 SF
    Zone code
    C-2
    Property type
    Grocery and convenience stores
    APN
    12-13-25-351-018
    APU
    121325351018

    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
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9855
    Latitude
    42.4641
    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
    $20,501
    $0.00
    $0.00
    $422,340
    -
    $0.00
    $0.00
    $844,680

    Comparable in this City

    • Value Estimation by Request
      2,880 SF

      24001 Groesbeck Hwy

      GROCERY, SUPERMARKET • 2,880 SF
      24001 Groesbeck Hwy, Warren, MI 48089-2101
      View Details
    • Value Estimation by Request
      2,241 SF

      22932 Groesbeck Hwy

      GROCERY, SUPERMARKET • 2,241 SF
      22932 Groesbeck Hwy, Warren, MI 48089-4241
      View Details
    • Value Estimation by Request
      1,986 SF

      26951 Hoover Rd

      GROCERY, SUPERMARKET • 1,986 SF
      26951 Hoover Rd, Warren, MI 48089-1154
      View Details
    • Value Estimation by Request
      58,334 SF

      24800 Hoover Rd

      GROCERY, SUPERMARKET • 58,334 SF
      24800 Hoover Rd, Warren, MI 48089-1926
      View Details
    • Value Estimation by Request
      2,985 SF

      14520 Stephens Rd

      GROCERY, SUPERMARKET • 2,985 SF
      14520 Stephens Rd, Warren, MI 48089-5767
      View Details
    • Value Estimation by Request
      5,525 SF

      22125 Van Dyke Ave

      GROCERY, SUPERMARKET • 5,525 SF
      22125 Van Dyke Ave, Warren, MI 48089-2360
      View Details

    Similar Nearby for Sale

    • $900,000
      3,717 SF

      Citizens Bank NNN Asset

      Citizens Bank NNN asset with extended lease and options.
      23521 Van Dyke Ave, Warren, MI 48089
      View Details
    • $274,900
      2,055 SF

      Renovated Commercial Building on Van Dyke

      Turnkey commercial building renovated in 2020, suitable for various businesses.
      21511 Van Dyke Ave, Warren, MI 48089
      View Details
    • $1,150,000
      23,776 SF

      Warren Retail/Industrial Buildings on Highway

      Two buildings totaling 23,776 SF on 1.92 AC.
      24155 Groesbeck Hwy, Warren, MI 48089
      View Details
    • $250,000
      2,400 SF

      Versatile Commercial Property on 8 Mile

      2,400 sq ft commercial property on high-traffic 8 Mile Road.
      12433 E Eight Mile Rd, Warren, MI 48089
      View Details
    • $950,000

      Rustic Bar and Restaurant For Sale

      Country bar and restaurant with liquor and lottery licenses included.
      26700 Schoenherr Rd Rd, Warren, MI 48089
      View Details
    • $450,000
      1,433 SF

      Warren Warehouse: Prime M2 Location

      1,433 SF Warehouse, $450K, M2 Zoning
      23594 Hoover Rd, Warren, MI 48089
      View Details

    Similar Nearby for Lease

    • $4,500 /Mo

      Versatile Retail/Office/Medical Space Available

      High-traffic location suitable for retail, office, or medical use.
      8101-8113 E 9 Mile Rd, Warren, MI 48089
      View Details
    • $13 SF/Yr
      1,086 SF

      Retail Space on Groesbeck Highway

      Retail spaces available on Groesbeck Hwy and Frazho Road.
      26010-26018 Groesbeck Hwy, Warren, MI 48089
      View Details
    • Contact for pricing
      6,295 SF

      Regional Shopping Center Retail Space

      Retail space available in Warren, MI shopping center.
      26013-26127 Hoover Rd, Warren, MI 48089
      View Details
    • $949 /Mo

      Retail Space in Updated Building

      Retail space available in updated commercial building, flexible square footage.
      25141 Hoover Rd, Warren, MI 48089
      View Details
    • $8 SF/Yr
      3,500 SF

      Retail Center with High Visibility

      Retail spaces available in active center with high traffic.
      13344 E 11 Mile Rd, Warren, MI 48089
      View Details
    • $13 SF/Yr
      600 SF

      Retail Space For Lease

      Retail spaces available in Frazho Plaza, Warren, Michigan.
      14555-14747 Groesbeck Hwy, Warren, MI 48089
      View Details

    Property Visit Statistics

    • Visits by month
      3.4k
    • Visitors by month
      2.6k
    • Avg Time on site
      6 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23012 Schoenherr Rd
    Warren, MI 48089-2606
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.