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

    28004 Harper Ave Saint Clair Shores, MI 48081-1562

    • Retail space
    • 1,600 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2021
    $100,000
    Value Estimations
    $140,000
    Show details
    Cap Rate Potential
    9.9%
    Retail space
    Location Intelligence
    Property ID
    US43-1512018
    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 28004 Harper Ave

    Year built
    1955
    Lot size
    0.05 lot acres
    Property size
    1,600 SF
    Zone code
    B-1
    Property type
    Retail space
    APN
    09-14-15-451-075
    APU
    91415451075

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $120,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $195,000
      6.5%
      $180,000
      7%
      $170,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $155,000
      Market price range: $106k - $243k
      AI Estimate
      $155,000
      Market price range: $106k - $243k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $155,000
      Current use
      MEDICAL BUILDING
      $195,000
      Change: +26% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $165,000
      Change: +5% Conversion: Easy
      AUTO REPAIR, GARAGE
      $140,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $135,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8976
    Latitude
    42.499
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,600 SF

      27209 Harper Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,600 SF
      27209 Harper Ave, Saint Clair Shores, MI 48081-1911
      View Details
    • Value Estimation by Request
      1,044 SF

      25406 Harper Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,044 SF
      25406 Harper Ave, Saint Clair Shores, MI 48081-2208
      View Details
    • Value Estimation by Request
      2,035 SF

      27206 Harper Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,035 SF
      27206 Harper Ave, Saint Clair Shores, MI 48081-1918
      View Details
    • Value Estimation by Request
      1,608 SF

      27114 Harper Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,608 SF
      27114 Harper Ave, Saint Clair Shores, MI 48081-1912
      View Details
    • Value Estimation by Request
      3,760 SF

      25120 Jefferson Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,760 SF
      25120 Jefferson Ave, Saint Clair Shores, MI 48081-2304
      View Details
    • Value Estimation by Request
      3,756 SF

      26529 Little Mack Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,756 SF
      26529 Little Mack Ave, Saint Clair Shores, MI 48081-1831
      View Details

    Similar Nearby for Sale

    • $199,999
      1,224 SF

      Updated Office or Retail Space

      Renovated 1,224 SF office/retail space in St. Clair Shores.
      28410 Harper Ave, St Clair Shores, MI 48081
      View Details
    • $649,000
      2,882 SF

      St. Clair Shores Medical Office Building

      2,882 SF Medical Office, $649,000
      29519 Harper Ave, St. Clair Shores, MI 48081
      View Details
    • $2,375,000
      15,566 SF

      Saint Clair Shores Office Building

      15,566 SF office building in Saint Clair Shores.
      26200 Harper Ave, Saint Clair Shores, MI 48081
      View Details
    • $599,000

      Office Building with Private Offices

      Office building featuring 15 private offices and ample parking.
      27320 Harper Ave, St Clair Shores, MI 48081
      View Details
    • Contact for pricing
      4,533 SF

      Professionally Managed Office Complex

      Office complex with prominent signage and on-site property management.
      Saint Clair Shores, MI 48081
      View Details
    • $650,000
      5,627 SF

      Executive Office Building for Sale

      St. Clair Shores Office, 5,627 SF, $650K
      29350 Harper Ave, St. Clair Shores, MI 48081
      View Details

    Similar Nearby for Lease

    • $2,950 /Mo

      Remodeled Commercial Space on Jefferson

      Remodeled office/retail space with modern finishes and high visibility.
      26333 Jefferson Ave, St Clair Shores, MI 48081
      View Details
    • $1,500 /Mo
      1,224 SF

      Updated Office or Retail Space

      Renovated 1,224 sq ft office/retail space in St. Clair Shores.
      28410 Harper Ave, St Clair Shores, MI 48081
      View Details
    • $16 SF/Yr
      1,928 SF

      Retail Space with Excellent Flow

      Well-located retail space with ample parking and expressway access.
      25319 Little Mack Ave, Saint Clair Shores, MI 48081
      View Details
    • $1,100 /Mo

      Commercial Space on Little Mack

      800 sq ft office/commercial space for rent.
      25326 Little Mack Ave Ave, St Clair Shores, MI 48081
      View Details
    • Contact for pricing
      700 SF

      Freestanding Retail Building with Drive-Through

      Freestanding retail building with existing drive-through infrastructure for rent.
      25501 Harper Ave, Saint Clair Shores, MI 48081
      View Details
    • Contact for pricing
      2,250 SF

      Medical Office Space Available

      Private medical suite in high-visibility, established St. Clair Shores location.
      25515 Harper Ave, Saint Clair Shores, MI 48081
      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.
    28004 Harper Ave
    Saint Clair Shores, MI 48081-1562
    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.