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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    23600 Warren St Dearborn Heights, MI 48127-2353

    • Medical offices
    • 12,482 SF
    • 1.51 lot acres
    OFF-MARKET
    Value Estimations
    $1,175,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0853092
    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

    • Sokol Cultural Center / Cultural Center / Gymnastics Center
    • D'Lacs Patisserie / Patisserie
    • Oh Jok / Asian Restaurant / Korean Restaurant
    • Motor City Stamp and Cover Club / Stamp Collectors Club

    Property Details for 23600 Warren St

    Year built
    1966
    Lot size
    1.51 lot acres
    Property size
    12,482 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    33 002 04 0086 001
    APU
    33002040086001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,175,000
      Market price range: $792k - $1.68M
      AI Estimate
      $1,175,000
      Market price range: $792k - $1.68M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,175,000
      Current use
      RETAIL STORES
      $1,760,000
      Change: +50% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,370,000
      Change: +17% Conversion: Easy
      RESTAURANT
      $1,295,000
      Change: +10% Conversion: Difficult
      OFFICE BUILDING
      $1,210,000
      Change: +3% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $995,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn Heights
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2688
    Latitude
    42.342
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,210 SF

      27250 Cherry Hl Rd

      MEDICAL BUILDING • 2,210 SF
      27250 Cherry Hl Rd, Dearborn Heights, MI 48127-3677
      View Details
    • Value Estimation
      $1,970,000
      31,093 SF

      8560 Silvery Ln

      MEDICAL BUILDING • 31,093 SF
      8560 Silvery Ln, Dearborn Heights, MI 48127-4515
      View Details
    • Value Estimation by Request
      3,281 SF

      24548 Warren St

      MEDICAL BUILDING • 3,281 SF
      24548 Warren St, Dearborn Heights, MI 48127-2105
      View Details
    • Value Estimation
      $1,265,000
      12,375 SF

      24430 Frd Rd

      MEDICAL BUILDING • 12,375 SF
      24430 Frd Rd, Dearborn Heights, MI 48127-3280
      View Details
    • Value Estimation by Request
      3,053 SF

      6221 Telegraph Rd

      MEDICAL BUILDING • 3,053 SF
      6221 Telegraph Rd, Dearborn Heights, MI 48127-3222
      View Details
    • Value Estimation
      $970,000
      8,704 SF

      27201 Warren St

      MEDICAL BUILDING • 8,704 SF
      27201 Warren St, Dearborn Heights, MI 48127-1804
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      32,330 SF

      Arbor Lane Medical Office Complex

      Prime Dearborn Heights Medical Office
      8550-8565 Silvery Ln, Dearborn Heights, MI 48127
      View Details
    • $39,800

      Established Business Opportunity on Ford Rd

      Business opportunity in high-traffic area suitable for various uses.
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      Telegraph Road Commercial Buildings For Sale

      Two free-standing buildings on Telegraph Road, suitable for various uses.
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      Dearborn Commercial Business For Sale

      Commercial business in Downtown Dearborn, situated in a high-growth area.
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    • New
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      Dearborn Heights Restaurant Business Opportunity

      Established Middle Eastern restaurant in a high-traffic Dearborn Heights location.
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    • $230,000
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      Ranch Condo in 62+ Community

      Well-maintained 2-bedroom condo with finished basement in Dearborn Heights.
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    Similar Nearby for Lease

    • Contact for pricing
      2,361 SF

      Medical/Professional Office Space Available

      Medical/Professional office space for lease in Dearborn Heights, MI.
      8550 N Silvery Ln, Dearborn Heights, MI 48127
      View Details
    • $15 SF/Yr
      13,239 SF

      Tel-Joy Medical Office Space Available

      Prime Medical Office Suites, Wayne County
      8601 Telegraph Rd, Dearborn Heights, MI 48127
      View Details
    • $1,833 /Mo
      8,200 SF

      Dearborn Heights Commercial Space Available

      8,200 SF commercial space ideal for medical, retail, or office.
      6428 N Inkster Rd N, Dearborn Heights, MI 48127
      View Details
    • $3,075 /Mo
      1,230 SF

      Dearborn Heights Commercial Unit

      Second-floor commercial unit suitable for retail, office, or creative use.
      22130 Ford Rd, Dearborn Heights, MI 48127
      View Details
    • $2,875 /Mo
      1,150 SF

      Dearborn Heights Commercial Unit For Rent

      Second-floor commercial unit with open layout and natural light.
      22176 Ford Rd, Dearborn Heights, MI 48127
      View Details
    • $1,750 /Mo

      Versatile Commercial Building on Warren

      Commercial building in Dearborn Heights, ideal for offices or retail.
      24602 W Warren Ave St, Dearborn Heights, MI 48127
      View Details
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    23600 Warren St
    Dearborn Heights, MI 48127-2353
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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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