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    Property profile & analytics

    2580 Dixie Hwy Waterford, MI 48328

    • Retail space
    • 2,815 SF
    • 0.09 lot acres
    For Sale
    View listing
    $640,000
    Last Sale
    Sep 25, 2023
    $200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1103217
    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

    • Retail space

    Property Details for 2580 Dixie Hwy

    Year built
    1928
    Lot size
    0.09 lot acres
    Property size
    2,815 SF
    Zone code
    BI
    Property type
    Retail space
    APN
    W -13-13-129-021
    APU
    W1313129021

    Description

    This exceptional 2,815 square foot industrial property, situated on a 0.09-acre lot at 2580 Dixie Highway in Waterford, Michigan, presents a rare opportunity. Completely renovated down to the block structure, this building offers a unique blend of functionality and style, perfect for a variety of uses. The space boasts a stunning showroom-style garage, ideal for an auto enthusiast or a business showcasing products. A private office/meeting area provides a professional workspace, complete with a full bathroom featuring a shower and bidet. All equipment, decor, and fixtures are included in the sale, even the pinball machines (excluding any vehicles). The property benefits from high visibility due to pylon signage on Dixie Highway, ensuring excellent exposure for your business. Its strategic location between Waterford Hills Raceway and M-1 Concourse offers convenient access and high traffic visibility, yet provides a more practical and usable space than those found on-site at the raceways. This turnkey operation is priced at $640,000 and is ready for immediate occupancy. The comprehensive renovation ensures a move-in ready space with modern amenities and high-quality finishes. This is a truly one-of-a-kind opportunity to acquire a unique and versatile commercial property in a prime Waterford location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $220,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $191,000
      Market price range: $192k - $461k
      AI Estimate
      $191,000
      Market price range: $192k - $476k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $290,000
      Current use
      AUTO REPAIR, GARAGE
      $275,000
      Change: -5% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $260,000
      Change: -9% Conversion: Moderate
      OFFICE BUILDING
      $245,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.339
    Latitude
    42.6731
    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
    $3,097
    $0.00
    $0.00
    $74,330
    -
    $0.00
    $0.00
    $148,660

    Comparable in this City

    • Value Estimation by Request
      2,160 SF

      3115 Dixie Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      3115 Dixie Hwy, Waterford, MI 48328-1602
      View Details
    • Value Estimation by Request
      2,479 SF

      54 Cass Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,479 SF
      54 Cass Lk Rd, Waterford, MI 48328-3521
      View Details
    • Value Estimation by Request
      5,130 SF

      2255 Elizabeth Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,130 SF
      2255 Elizabeth Lk Rd, Waterford, MI 48328-3306
      View Details
    • Value Estimation by Request
      2,398 SF

      3685 Elizabeth Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,398 SF
      3685 Elizabeth Lk Rd, Waterford, MI 48328-3013
      View Details
    • Value Estimation by Request
      1,914 SF

      163 Telegraph Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,914 SF
      163 Telegraph Rd, Waterford, MI 48328-3765
      View Details
    • Value Estimation by Request
      1,491 SF

      1120 Voorheis Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,491 SF
      1120 Voorheis Rd, Waterford, MI 48328-3944
      View Details

    Similar Nearby for Sale

    • $1,748,400
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      Waterford, MI Retail Investment

      Vacant CVS, strong leasehold, high cap rate.
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      Waterford Retail/Restaurant Redevelopment Opportunity

      6,500 SF building on 3.38 acres, prime Telegraph Road location.
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    • $500,000
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      Freestanding Building on Dixie Highway

      3,000 sq ft commercial building on heavily traveled Dixie Highway.
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    • $450,000
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      Bar and Restaurant with License

      Bar and restaurant with liquor license on 0.71 acres.
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      5,000 SF

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    Similar Nearby for Lease

    • $10 SF/Yr
      17,000 SF

      Former Grocery Store with Equipment

      17,000 SF retail space with equipment and ample parking.
      3415 Elizabeth Lake Rd, Waterford, MI 48328
      View Details
    • $14 SF/Yr
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      Retail Space in Growing Community

      Retail space available in a high-traffic, growing community.
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      View Details
    • $1,200 /Mo

      Renovated Retail/Storage Building Available

      Recently renovated commercial/storage building with units available for immediate occupancy.
      3135 Dixie Hwy, Waterford, MI 48328
      View Details
    • $1,350 /Mo
      5,985 SF

      Renovated Commercial Building in Waterford

      Renovated commercial building with high visibility and ample parking.
      2701 Elizabeth Lake Rd, Waterford, MI 48328
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    • $1,350 /Mo
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      Renovated Commercial Building in Waterford

      Renovated commercial building with high visibility and ample parking.
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    • $6,500 /Mo
      13,000 SF

      Waterford Commercial Space For Lease

      13,000 sq ft commercial space ideal for various businesses.
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      View Details
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    2580 Dixie Hwy
    Waterford, MI 48328
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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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