Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24400 Plymouth Rd Redford, MI 48239-1617

    • Manufacturing properties
    • 207,088 SF
    • 14.25 lot acres
    OFF-MARKET
    Value Estimations
    $7,390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1838132
    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

    • Manufacturing properties

    Property Details for 24400 Plymouth Rd

    Year built
    1956
    Lot size
    14.25 lot acres
    Property size
    207,088 SF
    Zone code
    R-1
    Property type
    Manufacturing properties
    APN
    79 036 99 0005 713
    APU
    79036990005713

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,387,000
      Market price range: $7.21M - $12.5M
      AI Estimate
      $7,387,000
      Market price range: $7.21M - $12.5M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $9,480,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Redford
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2795
    Latitude
    42.3724
    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
    2019
    $199,840
    $0.00
    $0.00
    $2,929,600
    -
    $0.00
    $0.00
    $5,859,200

    Comparable in this City

    • Value Estimation by Request
      5,920 SF

      12660 Farley

      MANUFACTURING (LIGHT) • 5,920 SF
      12660 Farley, Redford, MI 48239-2643
      View Details
    • Value Estimation
      $500,000
      14,400 SF

      25401 Glendale

      MANUFACTURING (LIGHT) • 14,400 SF
      25401 Glendale, Redford, MI 48239-4511
      View Details
    • Value Estimation
      $4,990,000
      142,362 SF

      25111 Glendale

      MANUFACTURING (LIGHT) • 142,362 SF
      25111 Glendale, Redford, MI 48239-2646
      View Details
    • Value Estimation by Request
      7,080 SF

      27300 Fullerton

      MANUFACTURING (LIGHT) • 7,080 SF
      27300 Fullerton, Redford, MI 48239-2563
      View Details
    • Value Estimation by Request
      2,400 SF

      12024 Wormer

      MANUFACTURING (LIGHT) • 2,400 SF
      12024 Wormer, Redford, MI 48239-2423
      View Details
    • Value Estimation by Request
      5,919 SF

      12140 Woodbine

      MANUFACTURING (LIGHT) • 5,919 SF
      12140 Woodbine, Redford, MI 48239-2418
      View Details

    Similar Nearby for Sale

    • $149,900
      1,014 SF

      Redford Industrial Space - Great Location

      High-traffic area, versatile industrial space.
      22306 Warren Ave, Redford, MI 48239
      View Details
    • Contact for pricing
      41,712 SF

      41,712 SF Industrial For Sale

      41,712 SF industrial property available for purchase.
      24900 Capitol, Redford, MI 48239
      View Details
    • Contact for pricing
      37,000 SF

      37,000 SF Industrial Portfolio

      Three buildings on 2.73 acres with frontage on Telegraph.
      14950 Telegraph Rd, Redford, MI 48239
      View Details
    • Contact for pricing
      2,680 SF

      Redford Commercial Building with Warehouse

      Well-maintained commercial building with flexible office and storage space.
      15116 Beech Daly Rd, Redford, MI 48239
      View Details
    • Contact for pricing

      37,000 SF Showroom/Warehouse For Sale

      Three buildings on 2.73 acres with frontage on Telegraph Rd.
      14950-14990 Telegraph Rd, Redford, MI 48239
      View Details
    • $560,000
      4,562 SF

      Established Collision Shop in Redford

      Turn-key operation, high-traffic location.
      26136 Plymouth Rd, Redford, MI 48239
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr

      Industrial Space with Cranes

      12,000 SF industrial space for sale or lease.
      12221 Dixie, Redford, MI 48239
      View Details
    • Contact for pricing

      Warehouse/Distribution Space For Lease

      Infill warehouse/distribution space available for lease.
      12723 Glendale Ave, Redford, MI 48239
      View Details
    • Contact for pricing
      60,000 SF

      Industrial Space Near Major Freeways

      Up to 60,000 SF available near Southfield and Jeffries Freeways.
      14240-14350 Tireman, Detroit, MI 48239
      View Details
    • Contact for pricing
      9,596 SF

      Warehouse/Distribution Facility Near Detroit

      High-quality warehouse/distribution facility with CSX rail access.
      12723 Telegraph Rd, Redford, MI 48239
      View Details
    • Contact for pricing

      Retail Single Tenant Space

      15,008 SqFt single tenant retail space for rent.
      15775 Telegraph Rd, Redford, MI 48239
      View Details
    • Contact for pricing

      Industrial Space Near I-96 Exit

      Industrial space with office, parking, and proximity to I-96.
      Redford, MI 48239
      View Details
    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.
    24400 Plymouth Rd
    Redford, MI 48239-1617
    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.
    Sign Up Successful!
    You now have access to more from Realmo!