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    Property profile & analytics

    2335 Commerce Rd Walled Lake, MI 48390-2136

    • Medical Office Space
    • 4,952 SF
    • 0.62 lot acres
    OFF-MARKET
    Last Sale
    Sep 13, 2024
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1806828
    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

    • Walled Lake Medical Center / Physician
    • Frank L Fenton, DO / Pediatrician / Physician
    • Alliance Health Family Medicine - Walled Lake / Medical Clinic
    • Alliance Health-Walled Lake / Pediatrician / Physician

    Property Details for 2335 Commerce Rd

    Year built
    1906
    Lot size
    0.62 lot acres
    Property size
    4,952 SF
    Zone code
    BI
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    EW-17-23-352-014
    APU
    EW1723352014

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $926,000
      Market price range: $492k - $1.13M
      AI Estimate
      $586,000
      Market price range: $201k - $797k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $780,000
      Current use
      COMMERCIAL (GENERAL)
      $870,000
      Change: +12% Conversion: Easy
      RETAIL STORES
      $835,000
      Change: +7% Conversion: Difficult
      OFFICE BUILDING
      $770,000
      Change: -2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Walled Lake
    County
    Oakland
    State
    Michigan
    Longitude
    -83.475
    Latitude
    42.5556
    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
    $12,092
    $0.00
    $0.00
    $352,140
    -
    $0.00
    $0.00
    $704,280

    Comparable in this City

    • Value Estimation by Request
      1,283 SF

      1070 Ew Maple Rd

      MEDICAL BUILDING • 1,283 SF
      1070 Ew Maple Rd, Walled Lake, MI 48390-3571
      View Details
    • Value Estimation
      $820,000
      6,933 SF

      620 Pontiac Trl

      MEDICAL BUILDING • 6,933 SF
      620 Pontiac Trl, Walled Lake, MI 48390-3448
      View Details
    • Value Estimation
      $765,000
      4,163 SF

      1881 Pontiac Trl

      MEDICAL BUILDING • 4,163 SF
      1881 Pontiac Trl, Walled Lake, MI 48390-3101
      View Details
    • Value Estimation by Request
      1,378 SF

      2735 Benstein Rd

      MEDICAL BUILDING • 1,378 SF
      2735 Benstein Rd, Commerce Township, MI 48390-1101
      View Details
    • Value Estimation by Request
      963 SF

      1080 Ew Maple Rd

      MEDICAL BUILDING • 963 SF
      1080 Ew Maple Rd, Walled Lake, MI 48390-3571
      View Details
    • Value Estimation
      $595,000
      4,163 SF

      1881 Pontiac Trl

      MEDICAL BUILDING • 4,163 SF
      1881 Pontiac Trl, Walled Lake, MI 48390-3101
      View Details

    Similar Nearby for Sale

    • $1,750,000
      4.26 Acres

      Commerce Twp Commercial Land Parcel F

      4.26 Acres, Prime Commercial Location
      0 Side Of Martin Pkwy, Commerce Charter Township, MI 48390
      View Details
    • Contact for pricing
      28,403 SF

      Commerce Center Office Building

      28,403 SF Office Building For Sale
      2655 Oakley Park Rd, Commerce Charter Township, MI 48390
      View Details
    • $560,000
      4,200 SF

      Walled Lake Medical Office Building

      Profitable Medical Office, 4200 SF
      1881 Pontiac Trl, Walled Lake, MI 48390
      View Details
    • $280,000
      Pending

      Equipped Office Space For Sale

      Turnkey office space suitable for medical or professional use.
      1038 West Maple Rd, Lake City, MI 48390
      View Details
    • Contact for pricing
      2.30 Acres

      West Bloomfield Industrial Land Parcel

      2.3-Acre Industrial Land in Oakland County
      0 Swc Oakley Park And Haggerty Parcel J, West Bloomfield Township, MI 48390
      View Details
    • $1,248,000
      8.32 Acres

      Commerce Twp Industrial Land - $1.2M

      8.32 Acres, Prime Oakland County Location
      0 Of Martin Pkwy, Commerce Charter Township, MI 48390
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      18,000 SF

      Walled Lake Medical Office Suite

      1,500 SF Available, Oakland County
      55 Pond Dr, Walled Lake, MI 48390
      View Details
    • $18 SF/Yr
      28,403 SF

      Commerce Center Executive Suites

      Modern Office Space, 7,504 SF Available
      2655 Oakley Park Rd, Commerce Charter Township, MI 48390
      View Details
    • $6,000 /Mo
      12,184 SF

      Commerce Twp Creative Office Suites

      Three suites available, lake views.
      1111 Oakley Park Rd, Commerce Charter Township, MI 48390
      View Details
    • $18 SF/Yr
      1,500 SF

      Commerce Plaza Retail Space

      High-traffic retail space available in Commerce Township, MI
      2141-2181 Pontiac Trl, Commerce Charter Township, MI 48390
      View Details
    • $1,600 /Mo
      Pending

      Executive Office Space For Rent

      Executive office space featuring large offices, foyer, and kitchen.
      990 Decker Rd, Walled Lake, MI 48390
      View Details
    • $2,700 /Mo

      Freestanding Commercial Building in Walled Lake

      1500 sqft building in downtown Walled Lake for lease.
      235 N Pontiac Trl, Walled Lake, MI 48390
      View Details
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    2335 Commerce Rd
    Walled Lake, MI 48390-2136
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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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