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

    24080 Schoenherr Rd Warren, MI 48089-2124

    • Bars
    • 2,310 SF
    • 0.38 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2023
    $220,000
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0203830
    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

    • Midway Inn Inc / Atm / Bank
    • Cardtronics ATM / Atm
    • Shenanigans irish pub / Bar
    • Midway Inn Sports Bar & Grill / Bar / Bar & Grill

    Property Details for 24080 Schoenherr Rd

    Year built
    1946
    Lot size
    0.38 lot acres
    Property size
    2,310 SF
    Zone code
    M-2
    Property type
    Bars
    Property subtype
    Pubs
    APN
    12-13-25-152-001
    APU
    121325152001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $152,000
      Market price range: $146k - $247k
      AI Estimate
      $152,000
      Market price range: $146k - $247k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $200,000
      Current use
      OFFICE BUILDING
      $220,000
      Change: +10% Conversion: Moderate
      MEDICAL BUILDING
      $185,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $185,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9861
    Latitude
    42.472
    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
    $7,956
    $0.00
    $0.00
    $121,390
    -
    $0.00
    $0.00
    $242,780

    Comparable in this City

    • Value Estimation by Request
      2,344 SF

      21611 Van Dyke Ave

      BAR, TAVERN • 2,344 SF
      21611 Van Dyke Ave, Warren, MI 48089-2945
      View Details
    • Value Estimation
      $170,000
      2,652 SF

      21665 Groesbeck Hwy

      BAR, TAVERN • 2,652 SF
      21665 Groesbeck Hwy, Warren, MI 48089-4922
      View Details
    • Value Estimation by Request
      8,853 SF

      13330 10th Mile Rd

      BAR, TAVERN • 8,853 SF
      13330 10th Mile Rd, Warren, MI 48089-2049
      View Details
    • Value Estimation by Request
      3,600 SF

      26700 Schoenherr Rd

      BAR, TAVERN • 3,600 SF
      26700 Schoenherr Rd, Warren, MI 48089-5901
      View Details
    • Value Estimation
      $75,000
      1,872 SF

      23158 Van Dyke Ave

      BAR, TAVERN • 1,872 SF
      23158 Van Dyke Ave, Warren, MI 48089-1623
      View Details
    • Value Estimation by Request
      2,344 SF

      21611 Van Dyke Ave

      BAR, TAVERN • 2,344 SF
      21611 Van Dyke Ave, Warren, MI 48089-2945
      View Details

    Similar Nearby for Sale

    • $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

      Remodeled Restaurant with Extra Building

      Operating restaurant with remodeled interior/exterior and separate out-building.
      23594 Hoover Rd, Warren, MI 48089
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    • $375,000
      800 SF

      Turnkey Restaurant on Busy 8 Mile

      Well-established restaurant with furniture, fixtures, and equipment included.
      14693 E 8 Mile Rd, Warren, MI 48089
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    • $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
    • $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
    • New
      $249,900
      2,055 SF

      Renovated Commercial Building, Warren, MI

      Turnkey commercial building renovated in 2020, suitable for various businesses.
      21511 Van Dyke Ave, Warren, MI 48089
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      616 SF

      Turnkey Diner/Take-Out Restaurant For Lease

      Fully operational 600 sq ft restaurant ready for its next owner.
      14693 E Eight Mile Rd, Warren, MI 48089
      View Details
    • $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
    • Contact for pricing

      Warren Commercial Property For Rent

      Commercial property available for rent in Warren, Michigan.
      13830 E 11 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

      Warren Warehouse/Shop Space For Lease

      Warehouse/shop space suitable for machine shop, auto repair, landscaping.
      23900 Amber Ave, 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
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    Warren, MI 48089-2124
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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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