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    Property profile & analytics

    27332 Van Dyke Ave Warren, MI 48093-2850

    • Retail space
    • 8,322 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    May 24, 2023
    $659,500
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0972558
    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

    • Williams Refrigeration AC & Heating / HVAC Service / General Contractor

    Property Details for 27332 Van Dyke Ave

    Year built
    1949
    Lot size
    0.77 lot acres
    Property size
    8,322 SF
    Zone code
    MZ
    Property type
    Retail space
    APN
    12-13-15-351-046
    APU
    121315351046

    Description

    This exceptional Macomb County property, located at 27332 Van Dyke Avenue, offers a unique investment opportunity. Boasting a prime location with high visibility on Van Dyke Avenue (50,000 vehicles daily) and convenient access to I-696, this multi-use property presents significant potential. The property comprises two buildings totaling 9,085 square feet, offering flexibility for various uses. The north building, a 2,742 square foot industrial space, is ideal for storage. The south building, encompassing 6,343 square feet, features 4,503 square feet of office space and a 1,840 square foot shop area. The property benefits from abundant parking, perfect for employees and customers. Its strategic placement between a Circle K and an Arby's provides excellent signage opportunities. The property is zoned MZ and offers the possibility of an "as is" purchase or redevelopment, potentially accommodating a national chain with a drive-thru. Built in 1949, the property features a 125-foot frontage. The buildings are currently divided into two suites. This versatile property is perfect for a variety of businesses seeking a high-traffic location with ample space and parking. The minimum divisible space is 2,742 square feet. There are no elevators on the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $685,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $855,000
      Market price range: $430k - $1.33M
      AI Estimate
      $855,000
      Market price range: $430k - $1.33M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $865,000
      Current use
      OFFICE BUILDING
      $790,000
      Change: -9% Conversion: Easy
      RESTAURANT
      $720,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0272
    Latitude
    42.4945
    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
    $14,217
    $0.00
    $0.00
    $252,110
    -
    $0.00
    $0.00
    $504,220

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      28845 Hoover Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      28845 Hoover Rd, Warren, MI 48093-4102
      View Details
    • Value Estimation by Request
      1,936 SF

      28821 Van Dyke Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,936 SF
      28821 Van Dyke Ave, Warren, MI 48093-2707
      View Details
    • Value Estimation by Request
      2,000 SF

      31100 Hoover Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      31100 Hoover Rd, Warren, MI 48093-7651
      View Details
    • Value Estimation
      $2,205,000
      13,833 SF

      11635 13th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,833 SF
      11635 13th Mile Rd, Warren, MI 48093-3021
      View Details
    • Value Estimation by Request
      1,120 SF

      12219 11th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,120 SF
      12219 11th Mile Rd, Warren, MI 48093-4679
      View Details
    • Value Estimation
      $820,000
      5,815 SF

      31250 Van Dyke Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,815 SF
      31250 Van Dyke Ave, Warren, MI 48093-7640
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,335 SF

      Warren Investment Opportunity: Motel, Restaurant

      Mixed-use property with motel, restaurant, house, and apartment.
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      Retail Space For Sale

      Retail space available for purchase.
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      Warren Medical Office For Sale

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    Similar Nearby for Lease

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      2,000 SF

      Warren Retail/Office/Medical Space Available

      2,000 SF space suitable for retail, office, or medical use.
      30655 Hoover Rd, Warren, MI 48093
      View Details
    • $5,568 /Mo
      4,455 SF

      Freestanding Building on Van Dyke

      Newer construction with great exposure and flexible zoning.
      27333 Van Dyke Ave, Warren, MI 48093
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    • Contact for pricing
      2,200 SF

      Retail Space on Van Dyke

      Retail space with high visibility and ample parking.
      32680 Van Dyke Ave, Warren, MI 48093
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    • Contact for pricing
      4,400 SF

      Retail Space with Garage Doors

      Retail space featuring garage doors and main road signage.
      32760-32766 Van Dyke Ave, Warren, MI 48093
      View Details
    • Contact for pricing
      4,400 SF

      Retail Building on Van Dyke

      4,400 SF retail building with high visibility.
      32760 Van Dyke Ave, Warren, MI 48093
      View Details
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    Warren, MI 48093-2850
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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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