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

    240 Riv Rd Mount Clemens, MI 48043-1912

    • Turn key restaurants
    • 5,256 SF
    • 0.76 lot acres
    OFF-MARKET
    Last Sale
    Sep 09, 2021
    $550,000
    Value Estimations
    $715,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0228310
    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 240 Riv Rd

    Year built
    1992
    Lot size
    0.76 lot acres
    Property size
    5,256 SF
    Zone code
    GC
    Property type
    Turn key restaurants
    APN
    05-11-13-202-009
    APU
    51113202009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $660,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $873,000
      Market price range: $456k - $1.24M
      AI Estimate
      $873,000
      Market price range: $456k - $1.24M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $745,000
      Current use
      MEDICAL BUILDING
      $645,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Clemens
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8624
    Latitude
    42.5973
    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
    $22,945
    $0.00
    $0.00
    $424,300
    -
    $0.00
    $0.00
    $848,600

    Comparable in this City

    • Value Estimation by Request
      3,328 SF

      300 Crocker Blvd

      RESTAURANT • 3,328 SF
      300 Crocker Blvd, Mount Clemens, MI 48043-2547
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    • Value Estimation by Request
      4,010 SF

      39 Main St, Unit 45

      RESTAURANT • 4,010 SF
      39 Main St, Mount Clemens, MI 48043-5631
      View Details
    • Value Estimation
      $345,000
      2,301 SF

      1120 Southbound Gratiot Ave, Unit SB

      RESTAURANT • 2,301 SF
      1120 Southbound Gratiot Ave, Mount Clemens, MI 48043-2900
      View Details
    • Value Estimation
      $750,000
      11,646 SF

      75 Macomb Pl

      RESTAURANT • 11,646 SF
      75 Macomb Pl, Mount Clemens, MI 48043-5625
      View Details
    • Value Estimation
      $295,000
      3,702 SF

      104 Macomb Pl

      RESTAURANT • 3,702 SF
      104 Macomb Pl, Mount Clemens, MI 48043-5651
      View Details
    • Value Estimation by Request
      2,664 SF

      180 Groesbeck Hwy

      RESTAURANT • 2,664 SF
      180 Groesbeck Hwy, Mount Clemens, MI 48043-1529
      View Details

    Similar Nearby for Sale

    • $1,590,000
      9,209 SF

      Downtown Mt. Clemens Bar & Restaurant

      Turnkey operation, high-revenue potential
      110 Macomb Pl, Mount Clemens, MI 48043
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    • $475,000
      2,016 SF

      Mount Clemens Bar & Real Estate

      Established Bar, Turn-Key Opportunity
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    • $474,006
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      Freestanding Catering Kitchen in Mount Clemens

      Single-tenant catering kitchen in Mount Clemens, Detroit MSA.
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    • $390,000
      4,000 SF

      Freestanding Former Bakery/Restaurant Opportunity

      Freestanding 4,000 SF former bakery/restaurant with equipment included.
      95 N Groesbeck Hwy, Mount Clemens, MI 48043
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    • $529,000
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      Remodeled Commercial Property in Mt. Clemens

      Prime commercial property in downtown Mt. Clemens with high-end remodel.
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    • $444,000

      Historic Building in Mt. Clemens

      Historic office and retail building in move-in condition.
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    Similar Nearby for Lease

    • $2,100 /Mo

      Downtown Mount Clemens Retail/Office Space

      Prime retail or office space in downtown Mount Clemens.
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    • $18 SF/Yr
      22,300 SF

      Gratiot Plaza Retail Space Available

      Prime Mt. Clemens Retail Strip Center
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    • $12 SF/Yr
      6,741 SF

      Mount Clemens Retail Space For Lease

      Prime Retail Space, 6,741 SF, 4 Parking Spaces
      35 Walnut St, Mount Clemens, MI 48043
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    • New
      $1,150 /Mo
      3,825 SF

      Versatile Commercial Suite in Mt. Clemens

      Turn-key commercial suite ideal for medical, professional, or small business.
      230 North Ave, Mount Clemens, MI 48043
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    • $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
    • $29 SF/Yr
      11,954 SF

      Mt. Clemens Office/Retail Space

      Modern Office & Retail Suites Available
      60 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
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    240 Riv Rd
    Mount Clemens, MI 48043-1912
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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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