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    27445 Michigan Ave Inkster, MI 48141-2201

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    27445 Michigan Ave Inkster, MI 48141-2201

    View on Map
    • Strip malls
    • 69,350 SF
    • 6.93 lot acres
    Off-Market
    Last Sale Apr 1, 2025
    Property ID
    US43-2491862
    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.
    Value Estimations
    $3,750,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 27445 Michigan Ave

    Year built
    1995
    Lot size
    6.93 lot acres
    Property size
    69,350 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    44 007 08 0007 301
    APU
    44007080007301

    Description

    This exceptional value-add opportunity presents a 68,730-square-foot retail center in Inkster, Michigan, boasting a 9% cap rate and 88.36% occupancy. The property, situated on a 6.93-acre lot at the corner of M-12/Michigan Avenue and Inkster Road (50,820 combined VPD), features a diverse mix of nine tenants, including Dollar General, O'Reilly Auto Parts, T-Mobile, Citi Trends, and Biomat Plasma. Five of the twelve units are under triple-net leases, providing stable income streams. Built in 1995 and renovated in 2019 (including a significant expansion), the single-story building benefits from a strong retail market with 15.8 million square feet of retail space within a five-mile radius and a 93.8% occupancy rate. The property's strategic location offers convenient access to major thoroughfares, including Interstate 94 (over 155,000 VPD), and is proximate to significant employers such as Ford World Headquarters, multiple Ford plants, and Corewell Health Hospitals in Dearborn and Wayne. The surrounding area comprises a mix of industrial and residential properties, with notable nearby retailers including Home Depot, Kroger, and Dollar Tree. A robust population of 294,827 residents within a five-mile radius, boasting an average household income exceeding $75,000, further enhances the investment potential. The asking price is $5,403,735, with a net operating income (NOI) of $486,336. Lease options are multiple, and the property is offered fee simple, with rent bumps included. This property presents a compelling investment opportunity due to its strong tenancy, prime location, and significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,751,000
      Market price range: $3.33M - $7.50M
      AI Estimate
      $3,751,000
      Market price range: $3.33M - $7.50M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $5,520,000
      Current use
      RETAIL STORES
      $5,280,000
      Change: -4% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,975,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Inkster
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3114
    Latitude
    42.2929
    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
    2019
    $130,917
    $0.00
    $0.00
    $1,614,700
    -
    $0.00
    $0.00
    $3,229,400

    Comparable in this City

    • Value Estimation by Request
      3,654 SF

      1549 Middlebelt Rd

      SHOPPING CENTER, STRIP CENTER • 3,654 SF
      1549 Middlebelt Rd, Inkster, MI 48141-1633
      View Details
    • Value Estimation
      $680,000
      7,500 SF

      29395 Cherry Hl Rd

      SHOPPING CENTER, STRIP CENTER • 7,500 SF
      29395 Cherry Hl Rd, Inkster, MI 48141-1199
      View Details
    • Value Estimation by Request
      5,153 SF

      28640 Michigan Ave

      SHOPPING CENTER, STRIP CENTER • 5,153 SF
      28640 Michigan Ave, Inkster, MI 48141-2146
      View Details
    • Value Estimation by Request
      5,940 SF

      1080 Inkster Rd

      SHOPPING CENTER, STRIP CENTER • 5,940 SF
      1080 Inkster Rd, Inkster, MI 48141-1826
      View Details
    • Value Estimation by Request
      9,976 SF

      297 Inkster Rd

      SHOPPING CENTER, STRIP CENTER • 9,976 SF
      297 Inkster Rd, Inkster, MI 48141-1208
      View Details
    • Value Estimation
      $1,440,000
      29,981 SF

      30235 Cherry Hl Rd

      SHOPPING CENTER, STRIP CENTER • 29,981 SF
      30235 Cherry Hl Rd, Inkster, MI 48141-1086
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Inkster Land Retail Investment Opportunity

      Prime land in Inkster, ideal for retail development.
      27377 Michigan Ave, Inkster, MI 48141
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space For Sale

      Retail space available for sale, 2500 square feet.
      1025 Middlebelt Rd, Inkster, MI 48141
      View Details
    • $550,000
      4,900 SF

      New Building in Airport District

      Versatile 4,900 SF space suitable for various business uses.
      29721 Michigan Ave, Inkster, MI 48141
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr

      Freestanding Retail Building on Michigan

      8,244 SF retail building with drive-thru on 1.51 acres.
      27020 Michigan Ave, Inkster, MI 48141
      View Details
    • Contact for pricing

      Retail Space in Cherry Hill

      Retail spaces available for lease in Cherry Hill Plaza.
      27125 Cherry Hill Rd, Inkster, MI 48141
      View Details
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    Inkster, MI 48141-2201
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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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