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    Property profile & analytics

    2602 Walton Blvd Waterford, MI 48329-4441

    • Specialty properties
    • 6,727 SF
    • 54.59 lot acres
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2983332
    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

    • Specialty properties

    Property Details for 2602 Walton Blvd

    Year built
    1991
    Lot size
    54.59 lot acres
    Property size
    6,727 SF
    Property type
    Specialty properties
    APN
    W -13-12-251-017
    APU
    W1312251017

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $589,000
      Market price range: $170k - $589k
      AI Estimate
      $591,000
      Market price range: $170k - $591k

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $395,000
      Current use
      RETAIL STORES
      $690,000
      Change: +74% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $650,000
      Change: +65% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $625,000
      Change: +58% Conversion: Difficult
      OFFICE BUILDING
      $590,000
      Change: +49% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3368
    Latitude
    42.6844
    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
    $11,217
    $0.00
    $0.00
    $640,860
    -
    $0.00
    $0.00
    $1,281,720

    Comparable in this City

    • Value Estimation
      $1,000,000
      61,727 SF

      5200 Civic Ctr Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS • 61,727 SF
      5200 Civic Ctr Dr, Waterford, MI 48329-3715
      View Details
    • Value Estimation by Request
      11,403 SF

      3141 Sashabaw Rd

      FUNERAL HOME • 11,403 SF
      3141 Sashabaw Rd, Waterford, MI 48329-4042
      View Details
    • Value Estimation by Request
      4,600 SF

      4895 Dixie Hwy

      Airport retail • 4,600 SF
      4895 Dixie Hwy, Waterford Township, MI 48329
      View Details
    • Value Estimation by Request
      2,314 SF

      4416 Walton Blvd

      VETERINARY, ANIMAL HOSPITAL • 2,314 SF
      4416 Walton Blvd, Waterford, MI 48329-4073
      View Details
    • Value Estimation by Request
      4,171 SF

      3650 Dixie Hwy

      PROFESSIONAL CLUBS/ASSOCIATIONS • 4,171 SF
      3650 Dixie Hwy, Waterford, MI 48329-4209
      View Details
    • Value Estimation
      $630,000
      14,852 SF

      4443 Dixie Hwy

      PROFESSIONAL CLUBS/ASSOCIATIONS • 14,852 SF
      4443 Dixie Hwy, Waterford, MI 48329-3510
      View Details

    Similar Nearby for Sale

    • New
      $359,000
      2,252 SF

      Waterfront Multifamily with Unique Features

      Updated multifamily property on Van Norman Lake with unique amenities.
      5826 Andersonville Rd, Waterford, MI 48329
      View Details
    • $900,000

      Office Building Near Major Thoroughfares

      Office building with frontage, parking, and flexible floor plan.
      4141 W Walton Blvd, Waterford, MI 48329
      View Details
    • $249,900
      0.56 Acres

      Commercial Land in Waterford, MI

      Commercial corner lot with frontage on Walton in Waterford, MI.
      000 Walton Blvd, Waterford, MI 48329
      View Details
    • $499,900
      2,519 SF

      Waterford Commercial Building on Dixie Highway

      2,500 SF commercial building on high-traffic Dixie Highway.
      4680 Dixie Hwy, Waterford, MI 48329
      View Details
    • $600,000
      5.00 Acres

      Clintonville & Mann Road Commercial Land

      5± Acres, Prime Corner Location, $600,000
      0 Nec Of Clintonville & Mann Rds, Waterford Township, MI 48329
      View Details

    Similar Nearby for Lease

    • $100 SF/Yr

      Waterford Township Specialty Property

      Specialty property available for rent in Waterford Township, Michigan.
      4667 Dixie Hwy Hwy, Waterford, MI 48329
      View Details
    • $15 SF/Yr
      4,600 SF

      Dixie Highway Retail Space

      Prime Retail Space, Newly Renovated
      4895 Dixie Hwy, Waterford Township, MI 48329
      View Details
    • Contact for pricing
      2,880 SF

      Retail Space in Waterford Plaza

      Neighborhood plaza with 2,880 sq ft available for rent.
      4690-4718 W Walton Blvd, Waterford, MI 48329
      View Details
    • $11 SF/Yr
      5,400 SF

      Waterford Flex Space Sublease

      5,400 SF flex space sublease near US-24.
      5499 Perry Dr, Waterford, MI 48329
      View Details
    • Contact for pricing
      429,210 SF

      Waterford Warehouse - 429,210 SF

      Massive Oakland County warehouse, ready for occupancy.
      5400 Perry Dr, Waterford Township, MI 48329
      View Details
    • $1,250 /Mo
      Pending

      Tastefully Finished Office Space Available

      Move-in ready office space with additional finished lower level.
      4564 W Walton Blvd, Waterford, MI 48329
      View Details
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    2602 Walton Blvd
    Waterford, MI 48329-4441
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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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