Sign Up Successful!
You now have access to more from Realmo!
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

    2487 Lapeer Rd Auburn Hills, MI 48326

    • Grocery and convenience stores
    • 3,137 SF
    • 0.55 lot acres
    For Sale
    View listing
    $1,600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1579766
    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

    • Citibank ATM / Atm

    Property Details for 2487 Lapeer Rd

    Year built
    1990
    Construction
    BRICK
    Lot size
    0.55 lot acres
    Property size
    3,137 SF
    Zone code
    B-2
    Property type
    Grocery and convenience stores
    APN
    02-14-11-351-011
    APU
    21411351011

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $796,000
      Market price range: $246k - $824k
      AI Estimate
      $646,000
      Market price range: $196k - $681k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $530,000
      Current use
      COMMERCIAL (GENERAL)
      $555,000
      Change: +4% Conversion: Easy
      MEDICAL BUILDING
      $495,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2511
    Latitude
    42.6787
    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
    $11,185
    $0.00
    $0.00
    $267,360
    -
    $0.00
    $0.00
    $534,720

    Comparable in this City

    • Value Estimation
      $1,090,000
      4,540 SF

      4000 Lapeer Rd

      GROCERY, SUPERMARKET • 4,540 SF
      4000 Lapeer Rd, Auburn Hills, MI 48326-1738
      View Details
    • Value Estimation by Request
      1,732 SF

      3700 Joslyn Rd

      GROCERY, SUPERMARKET • 1,732 SF
      3700 Joslyn Rd, Auburn Hills, MI 48326-1319
      View Details
    • Value Estimation by Request
      1,258 SF

      4477 Lapeer Rd

      GROCERY, SUPERMARKET • 1,258 SF
      4477 Lapeer Rd, Auburn Hills, MI 48326-1747
      View Details
    • Value Estimation by Request
      1,504 SF

      4243 Baldwin Rd

      GROCERY, SUPERMARKET • 1,504 SF
      4243 Baldwin Rd, Auburn Hills, MI 48326-1137
      View Details
    • Value Estimation
      $890,000
      3,704 SF

      3640 Lapeer Rd

      GROCERY, SUPERMARKET • 3,704 SF
      3640 Lapeer Rd, Auburn Hills, MI 48326-1730
      View Details
    • Value Estimation by Request
      1,736 SF

      2005 Walton Blvd

      GROCERY, SUPERMARKET • 1,736 SF
      2005 Walton Blvd, Auburn Hills, MI 48326-1949
      View Details

    Similar Nearby for Sale

    • $1,600,000
      3,137 SF

      Auburn Hills Net Lease 7-Eleven

      Single tenant net lease 7-Eleven with long-term occupancy.
      2487 Lapeer Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      42 SF

      Retail Space in Auburn Hills

      Former Rite Aid in a well-located, anchored shopping center.
      3205-3271 South Blvd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      44,015 SF

      Auburn Hills Retail Storefront

      High-traffic, 44,015 SF Joann Store
      600 Brown Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      2 SF

      Retail Space Near Great Lakes Mall

      Retail space with high visibility near Michigan's largest outlet mall.
      3901-3917 Baldwin Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      4.90 Acres

      Auburn Hills Commercial Land For Sale

      Prime 4.9-acre commercial lot, ideal location.
      0 Cor Of Joslyn Rd And Great Lk Xing Dr, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      24,500 SF

      Auburn Hills Industrial Property

      24,500 SF Multi-Tenant Building For Sale
      2181 Walton Blvd, Auburn Hills, MI 48326
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      40,919 SF

      Auburn Hills Retail Center

      Prime Oakland County retail space available.
      2546 Squirrel Rd, Auburn Hills, MI 48326
      View Details
    • $2,600 /Mo

      Remodeled Retail/Office/Restaurant Space Available

      Remodeled suite suitable for retail, office, or restaurant use.
      1989 N Opdyke Rd, Auburn Hills, MI 48326
      View Details
    • $21 SF/Yr
      2,500 SF

      Downtown Auburn Hills Office/Retail Space

      Class A office and retail space in downtown Auburn Hills.
      3400 Auburn Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      2,908 SF

      Wendy's Freestanding Restaurant For Lease

      High-traffic location, drive-thru, 2908 sq ft.
      130 Brown Rd, Auburn Hills, MI 48326
      View Details
    • $3,075 /Mo

      Retail Space in Busy Plaza

      Retail space available in high-traffic Auburn Hills plaza.
      1930-1988 Opdyke Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      4,126 SF

      Auburn Hills Retail Space Available

      Prime Auburn Hills retail space, multiple units.
      3901-3917 Baldwin Rd, Auburn Hills, MI 48326
      View Details

    Property Visit Statistics

    • Visits by month
      15.6k
    • Visitors by month
      7.7k
    • Avg Time on site
      8 min
    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.
    2487 Lapeer Rd
    Auburn Hills, MI 48326
    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.