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Property profile & analytics
FOR SALE
Grocery and convenience stores
2515 Union Lake Rd, Commerce Twp, MI 48382
Individually Owned
11-yr Hold
Free & Clear
Property ID
US43-0914876
$475,000
2515 Union Lake Rd, Commerce Twp, MI 48382
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Property summary
AI-generated overview
This exceptional 3,562-square-foot retail space is located at 2515 Union Lake Road in Commerce Charter Township, Michigan, 48382. The single-tenant building, constructed in 1940, sits on a prominent location along this major east-west thoroughfare, a key connector for several neighborhoods and commercial areas. Union Lake Road boasts smooth traffic flow and is lined with various businesses, establishing it as a significant commercial hub. The property features a single story and no elevators. The zoning is BI. The Assessor's Parcel Number (APN) is 17-12-229-028. The entire 3,562 square feet is currently vacant and available for sale or lease. A significant added benefit is the inclusion of a currently active liquor license, also available for purchase separately from the property itself. This presents a unique opportunity for a business seeking a high-visibility location with established infrastructure and the potential for immediate revenue generation. The property offers substantial potential for a variety of retail ventures.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1940
Total area
3,299 SF
Lot
0.22 ac (9,583 SF)
Zoning code
BI
APN
E -17-12-229-028
UPID
US43-0914876
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Vance,joseph W & Julie A|vance,j W & J A Living Tr · 11 yrs held
Vance,joseph W & Julie A|vance,j W & J A Living Tr
since 2015
3 recorded transactions
Zoning & alternative use
BI · Commerce Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Commerce Twp submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Commerce Twp submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,415
Tax year 2023
Assessed value
$164,790
Assessed 2024
Previous assessed
$161,480
+2.0% YoY
Effective rate
3.29%
On assessed value
Total market value
$329,580
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1940
Heating
FORCED AIR
Buildings
2
Stories
1
Units
1
Total area
3,299 SF
Lot
0.22 ac (9,583 SF)
Zoning code
BI
APN
E -17-12-229-028
UPID
US43-0914876
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Commerce Township, MI
Zoning BI · permitted uses
BI · Commerce Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Commerce Township. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1940
Heating
FORCED AIR
Stories
1
Buildings
2
Units
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Vance,joseph W & Julie A|vance,j W & J A Living Tr
Individual
Free & Clear · 11 yrs held
Mailing address
2515 UN LK RD, COMMERCE TOWNSHIP, MI 48382-3555
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2019
—
Joseph W Vance
—
Deed
related
$125,000 · Huron Valley State Bank
Jan 6, 2015
—
Vance,joseph W & Julie A|vance,j W & J A Living Tr
Vance,joseph W
Quit Claim Deed
related
—
Jan 21, 2005
—
Joseph W Vance
Vance,joseph W & Carol
Quit Claim Deed
related
$280,000 · Paramount Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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