Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    24807 Romano St Warren, MI 48091-5864
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    24807 Romano St Warren, MI 48091-5864

    View on Map
    • Flex space
    • 18,147 SF
    • 1.05 lot acres
    Off-Market
    Property ID
    US43-0161163
    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.
    Value Estimations
    $1,285,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Flex space

    Property Details for 24807 Romano St

    Year built
    1979
    Lot size
    1.05 lot acres
    Property size
    18,147 SF
    Zone code
    M-2
    Property type
    Flex space
    APN
    12-13-30-226-026
    APU
    121330226026

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,287,000
      Market price range: $517k - $1.29M
      AI Estimate
      $1,287,000
      Market price range: $517k - $1.29M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $945,000
      Current use
      RETAIL STORES
      $1,880,000
      Change: +99% Conversion: Moderate
      OFFICE BUILDING
      $1,720,000
      Change: +82% Conversion: Difficult
      RESTAURANT
      $1,570,000
      Change: +66% Conversion: Difficult
      MEDICAL BUILDING
      $1,465,000
      Change: +55% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,415,000
      Change: +50% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,225,000
      Change: +29% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,185,000
      Change: +25% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0682
    Latitude
    42.4756
    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
    $21,896
    $0.00
    $0.00
    $464,340
    -
    $0.00
    $0.00
    $928,680

    Comparable in this City

    • Value Estimation by Request
      4,000 SF

      3200 10th Mile Rd

      LIGHT INDUSTRIAL • 4,000 SF
      3200 10th Mile Rd, Warren, MI 48091-1378
      View Details
    • Value Estimation by Request
      1,200 SF

      21740 Dequindre Rd

      LIGHT INDUSTRIAL • 1,200 SF
      21740 Dequindre Rd, Warren, MI 48091-2102
      View Details
    • Value Estimation by Request
      7,780 SF

      23851 Ryan Rd

      LIGHT INDUSTRIAL • 7,780 SF
      23851 Ryan Rd, Warren, MI 48091-1932
      View Details
    • Value Estimation by Request
      3,327,621 SF

      21400 Mound Rd

      LIGHT INDUSTRIAL • 3,327,621 SF
      21400 Mound Rd, Warren, MI 48091-2952
      View Details
    • Value Estimation
      $1,345,000
      18,984 SF

      24649 Mound Rd

      LIGHT INDUSTRIAL • 18,984 SF
      24649 Mound Rd, Warren, MI 48091-2043
      View Details
    • Value Estimation by Request
      6,554 SF

      22930 Sherwood Ave

      LIGHT INDUSTRIAL • 6,554 SF
      22930 Sherwood Ave, Warren, MI 48091-2605
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,505 SF

      Freestanding Flex/R&D Facility For Sale

      Flex/R&D facility with frontage and signage on Mound Road.
      25560 Mound Rd, Warren, MI 48091
      View Details
    • $1,000,000
      118,000 SF

      Warren Industrial Portfolio: 118,000 SF

      Prime Warren location, high traffic, investment opportunity.
      24460 Dequindre Rd, Warren, MI 48091
      View Details
    • $1,000,000
      118,000 SF

      Warren Industrial Portfolio: 118,000 SF

      Prime Warren location, high traffic, investment opportunity.
      24500 Dequindre Rd, Warren, MI 48091
      View Details
    • Contact for pricing
      10,439 SF

      Warren Industrial Space - Two Suites Available

      Turnkey industrial suites, great location, all utilities included.
      2104 11 Mile Rd, Warren, MI 48091
      View Details
    • $4,450,000
      40,650 SF

      Warren Warehouse Opportunity

      40,650 SF warehouse in Warren, Michigan for sale.
      2050 Morrissey Ave, Warren, MI 48091
      View Details
    • Contact for pricing
      7,600 SF

      Manufacturing Building with Office Space

      7,600 SF manufacturing building with 1,200 SF office space.
      24808 Romano St, Warren, MI 48091
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      39,828 SF

      Industrial Units in Warren, MI

      Industrial units available for lease in multi-tenant park.
      3461-3519 E 10 Mile Rd, Warren, MI 48091
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available, approximately 3,000 square feet.
      21635 Ryan Rd, Warren, MI 48091
      View Details
    • Contact for pricing

      Retail Center on E 9 Mile

      Dollar General anchored retail center with high visibility.
      7580 E Nine Mile Rd, Warren, MI 48091
      View Details
    • Contact for pricing

      Warren Commercial Property For Rent

      Commercial property available for rent in Warren, Michigan.
      2071 Eight Mile Rd, Warren, MI 48091
      View Details
    • $2,500 /Mo
      3,500 SF

      Turnkey Medical Office in Warren

      Move-in ready 3,500 sq ft medical office for lease.
      25932 Dequindre Rd, Warren, MI 48091
      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.
    24807 Romano St
    Warren, MI 48091-5864
    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!