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    Property profile & analytics

    24975 Harper Ave Saint Clair Shores, MI 48080-1233

    • Turn key restaurants
    • 2,664 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    May 06, 2020
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0235474
    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

    • At Clair shores senior center / Community Center
    • The Copper Penny restaurant / Restaurant

    Property Details for 24975 Harper Ave

    Year built
    1965
    Lot size
    0.42 lot acres
    Property size
    2,664 SF
    Zone code
    B-3
    Property type
    Turn key restaurants
    APN
    09-14-27-105-090
    APU
    91427105090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9023
    Latitude
    42.48
    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
    $8,394
    $0.00
    $0.00
    $171,000
    -
    $0.00
    $0.00
    $342,000

    Comparable in this City

    • Value Estimation
      $3,085,000
      13,097 SF

      23722 Jefferson Ave

      RESTAURANT • 13,097 SF
      23722 Jefferson Ave, Saint Clair Shores, MI 48080-1522
      View Details
    • Value Estimation by Request
      1,900 SF

      22230 Greater Mack Ave

      RESTAURANT • 1,900 SF
      22230 Greater Mack Ave, Saint Clair Shores, MI 48080-2303
      View Details
    • Value Estimation
      $1,175,000
      6,614 SF

      22335 Harper Ave

      RESTAURANT • 6,614 SF
      22335 Harper Ave, Saint Clair Shores, MI 48080-1817
      View Details
    • Value Estimation
      $755,000
      3,328 SF

      21150 Harper Ave

      RESTAURANT • 3,328 SF
      21150 Harper Ave, Saint Clair Shores, MI 48080-2241
      View Details
    • Value Estimation
      $535,000
      3,916 SF

      23839 Jefferson Ave

      RESTAURANT • 3,916 SF
      23839 Jefferson Ave, Saint Clair Shores, MI 48080-1523
      View Details
    • Value Estimation
      $1,025,000
      7,540 SF

      24223 Jefferson Ave

      RESTAURANT • 7,540 SF
      24223 Jefferson Ave, Saint Clair Shores, MI 48080-1521
      View Details

    Similar Nearby for Sale

    • $1,945,600

      Saint Clair Shores Bank Building

      Single tenant bank building with drive-thru in Saint Clair Shores.
      21800 Greater Mack Ave, Saint Clair Shores, MI 48080
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    • $399,000
      1,761 SF

      St. Clair Shores Auto Shop

      Turn-key auto shop in downtown St. Clair Shores.
      22900 Greater Mack Ave, St Clair Shores, MI 48080
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      1,600 SF

      Retail Space For Sale

      Retail space available for purchase.
      23707-23709 Jefferson Ave, St Clair Shores, MI 48080
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    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase in Saint Clair Shores, MI.
      25015 Little Mack Ave, Saint Clair Shores, MI 48080
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    Similar Nearby for Lease

    • Contact for pricing

      St. Clair Shores Retail Space

      Retail space available in St. Clair Shores, Michigan.
      24317 Jefferson Ave, St Clair Shores, MI 48080
      View Details
    • Contact for pricing
      9,400 SF

      Restaurant Space in High-Traffic Area

      Fully built-out bar and restaurant space for lease.
      24235-24311 Harper Ave, Saint Clair Shores, MI 48080
      View Details
    • Contact for pricing
      2,532 SF

      Retail Development with Drive-Thru Potential

      New retail development with drive-thru opportunity in St Clair Shores.
      24300 Harper Ave, Saint Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Freestanding Restaurant Opportunity

      Well-maintained former restaurant with infrastructure in place.
      23700 Harper Ave, St Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Harper Retail Center Space Available

      Retail spaces available from 2,200 to 8,900 square feet.
      24235 Harper Ave, St Clair Shores, MI 48080
      View Details
    • Contact for pricing

      Retail, Office, and Flex Property

      Versatile retail, office, and flex spaces available for rent.
      24000 Harper Ave, St Clair Shores, MI 48080
      View Details
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    Saint Clair Shores, MI 48080-1233
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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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