Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2739 Puritan St Detroit, MI 48238-1421

    • Retail space
    • 1,045 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Nov 08, 2024
    $923
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1657799
    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 2739 Puritan St

    Year built
    1935
    Lot size
    0.06 lot acres
    Property size
    1,045 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    12005403.
    APU
    12005403

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1296
    Latitude
    42.4099
    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
    2020
    $539
    $0.00
    $0.00
    $13,800
    -
    $0.00
    $0.00
    $27,600

    Comparable in this City

    • Value Estimation by Request
      995 SF

      15740 Wyoming St

      RETAIL STORES (PERSONAL SERVICES) • 995 SF
      15740 Wyoming St, Detroit, MI 48238-1135
      View Details
    • Value Estimation by Request
      1,200 SF

      15766 Wyoming St

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      15766 Wyoming St, Detroit, MI 48238-1135
      View Details
    • Value Estimation by Request
      2,628 SF

      3338 Davison

      RETAIL STORES (PERSONAL SERVICES) • 2,628 SF
      3338 Davison, Detroit, MI 48238-3392
      View Details
    • Value Estimation by Request
      4,300 SF

      2915 Puritan St

      RETAIL STORES (PERSONAL SERVICES) • 4,300 SF
      2915 Puritan St, Detroit, MI 48238-1450
      View Details
    • Value Estimation by Request
      4,621 SF

      8601 Puritan St

      RETAIL STORES (PERSONAL SERVICES) • 4,621 SF
      8601 Puritan St, Detroit, MI 48238-1168
      View Details
    • Value Estimation by Request
      3,016 SF

      10541 Puritan St

      RETAIL STORES (PERSONAL SERVICES) • 3,016 SF
      10541 Puritan St, Detroit, MI 48238-1018
      View Details

    Similar Nearby for Sale

    • $129,900
      6,389 SF

      Turnkey Detroit Commercial Property For Sale

      Three commercial spaces and three vacant lots available for sale.
      3325 Puritan St, Detroit, MI 48238
      View Details
    • $78,000

      Detroit Storefront with Flexible Layout

      Storefront property in Detroit with a versatile, customizable layout.
      14524 Wyoming Ave, Detroit, MI 48238
      View Details
    • $299,000
      2,800 SF

      Detroit Warehouse: $299,000

      Free-standing warehouse, ideal for various uses.
      8747 Lyndon St, Detroit, MI 48238
      View Details
    • $60,000
      9,551 SF

      Detroit Commercial Building For Sale

      9,551 SF commercial building in prime Detroit location.
      13930 Woodrow Wilson St, Detroit, MI 48238
      View Details
    • $400,000
      9,892 SF

      Detroit Industrial Warehouse - Auto Repair Ready

      9,892 SF Warehouse, Ideal for Auto Repair
      2584-2570 Stoepel St, Detroit, MI 48238
      View Details
    • $950,000

      Remodeled Gas Station with Carwash

      Gas station with carwash, kitchen, and expansion potential.
      13730 Livernois St, Detroit, MI 48238
      View Details

    Similar Nearby for Lease

    • $4,500 /Mo
      3,604 SF

      Retail Space in Detroit

      Retail space available for lease in Detroit, Michigan.
      2251 W Davison, Detroit, MI 48238
      View Details
    • $16 SF/Yr
      1,260 SF

      Retail Space Near Livernois Avenue

      Niche retail building with off-street parking available for rent.
      13323 Livernois Ave, Detroit, MI 48238
      View Details
    • $1,280 /Mo
      19,968 SF

      Prime Retail Center in Detroit

      Retail and warehouse spaces available for lease in Detroit.
      14379 Livernois Ave, Detroit, MI 48238
      View Details
    • Contact for pricing
      2,800 SF

      Lyndon Street Warehouse - For Sale

      2,800 SF Warehouse, Ideal Location
      8747 Lyndon St, Detroit, MI 48238
      View Details
    • $16 SF/Yr
      2,551 SF

      Livernois Plaza Retail Space Available

      Prime Retail Space, Wayne County
      13323 Livernois St, Detroit, MI 48238
      View Details
    • $11 SF/Yr
      35,000 SF

      Merchant Row Commons Retail Space

      Prime Retail Space, Wayne County, 5 Units Available
      14309-14365 Livernois Ave, Detroit, MI 48238
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2739 Puritan St
    Detroit, MI 48238-1421
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.