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    Property profile & analytics

    2705 Lapeer Rd Auburn Hills, MI 48326-1929

    • Turn key restaurants
    • 4,000 SF
    • 1.21 lot acres
    OFF-MARKET
    Last Sale
    Jun 24, 2024
    $677,500
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0814878
    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

    • ATM / Atm
    • Hoops Sports & Spirits / Bar & Pub

    Property Details for 2705 Lapeer Rd

    Year built
    1975
    Lot size
    1.21 lot acres
    Property size
    4,000 SF
    Zone code
    B-2
    Property type
    Turn key restaurants
    APN
    02-14-11-304-007
    APU
    21411304007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $680,000
      ML approach
      $680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $550,000
      Market price range: $398k - $950k
      AI Estimate
      $433,000
      Market price range: $334k - $779k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $690,000
      Current use
      COMMERCIAL (GENERAL)
      $705,000
      Change: +2% Conversion: Easy
      RETAIL STORES
      $675,000
      Change: -2% Conversion: Easy
      MEDICAL BUILDING
      $630,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn Hills
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2465
    Latitude
    42.6822
    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
    $13,363
    $0.00
    $0.00
    $306,870
    -
    $0.00
    $0.00
    $613,740

    Comparable in this City

    • Value Estimation
      $1,280,000
      7,860 SF

      3773 Walton Blvd

      RESTAURANT • 7,860 SF
      3773 Walton Blvd, Auburn Hills, MI 48326-2237
      View Details
    • Value Estimation
      $505,000
      5,405 SF

      3325 University Dr

      RESTAURANT • 5,405 SF
      3325 University Dr, Auburn Hills, MI 48326-2363
      View Details
    • Value Estimation
      $1,145,000
      10,149 SF

      885 Opdyke Rd

      RESTAURANT • 10,149 SF
      885 Opdyke Rd, Auburn Hills, MI 48326-2639
      View Details
    • Value Estimation
      $1,230,000
      5,935 SF

      3940 Baldwin Rd

      RESTAURANT • 5,935 SF
      3940 Baldwin Rd, Auburn Hills, MI 48326-1219
      View Details
    • Value Estimation
      $700,000
      6,951 SF

      720 Brown Rd

      RESTAURANT • 6,951 SF
      720 Brown Rd, Auburn Hills, MI 48326-1308
      View Details
    • Value Estimation by Request
      3,302 SF

      2495 Lapeer Rd

      RESTAURANT • 3,302 SF
      2495 Lapeer Rd, Auburn Hills, MI 48326-1922
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      44,015 SF

      600 Brown Rd, Auburn Hills, MI 48326

      Retail properties & Spaces • 44,015 SF
      600 Brown Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      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

      Retail Space in Auburn Hills

      Former Rite Aid in a well-located, anchored shopping center.
      3205-3271 South Blvd, Auburn Hills, MI 48326
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      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
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    • $499,000

      Prime Commercial Land in Auburn

      2.23-acre commercial parcel in high-demand Auburn Hills corridor.
      2137 N Opdyke Rd, Auburn Hills, MI 48326
      View Details
    • New
      $189,999
      19.84 Acres

      19-Acre Industrial Parcel in Auburn

      19-acre industrial parcel in Auburn Hills, development opportunity.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      800 Brown Rd, Auburn Hills, MI 48326
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    • $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
    • $2,600 /Mo

      Prime Retail/Office/Restaurant Space Available

      High-visibility location, flexible terms, and ample parking.
      1989 N Opdyke 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
    • Contact for pricing

      130 Brown Rd, Auburn Hills, MI 48326

      Retail space
      130 Brown Rd, Auburn Hills, MI 48326
      View Details
    • Contact for pricing
      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
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    Auburn Hills, MI 48326-1929
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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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