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

    2838 Long Lk Rd Troy, MI 48085-7012

    • Commercial real estate
    • 12,354 SF
    • 1.04 lot acres
    OFF-MARKET
    Value Estimations
    $1,740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-5251441
    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

    • Icloudsys / Tech Support Center / (Bike/Boat/Book/etc) Store
    • Solar Solutions of America Inc / Solar Energy Company
    • Muscular Moving Men / Moving Company
    • personal tax matters LLC / Tax Preparation
    • General Mortgage Group / Loan Service / Bank

    Property Details for 2838 Long Lk Rd

    Year built
    1969
    Lot size
    1.04 lot acres
    Property size
    12,354 SF
    Zone code
    O-1
    Property type
    Commercial real estate
    APN
    88-20-13-228-013
    APU
    882013228013

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,738,000
      Market price range: $1.58M - $3.02M
      AI Estimate
      $1,738,000
      Market price range: $1.58M - $3.02M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,255,000
      Current use
      RESTAURANT
      $2,140,000
      Change: -5% Conversion: Difficult
      RETAIL STORES
      $2,085,000
      Change: -8% Conversion: Easy
      MEDICAL BUILDING
      $1,950,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.0933
    Latitude
    42.5924
    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
    $13,996
    $0.00
    $0.00
    $586,910
    -
    $0.00
    $0.00
    $1,173,820

    Comparable in this City

    • Value Estimation
      $14,695,000
      75,639 SF

      6745 Solomon Ave, Unit 6980

      COMMERCIAL (GENERAL) • 75,639 SF
      6745 Solomon Ave, Troy, MI 48085-1284
      View Details
    • Value Estimation
      $4,235,000
      30,320 SF

      6012 Rochester Rd, Unit 6054

      COMMERCIAL (GENERAL) • 30,320 SF
      6012 Rochester Rd, Troy, MI 48085-1301
      View Details
    • Value Estimation
      $10,315,000
      58,104 SF

      6835 Rochester Rd, Unit 6843

      COMMERCIAL (GENERAL) • 58,104 SF
      6835 Rochester Rd, Troy, MI 48085-1242
      View Details
    • Value Estimation
      $2,200,000
      11,316 SF

      2904 Long Lk Rd, Unit 2918

      COMMERCIAL (GENERAL) • 11,316 SF
      2904 Long Lk Rd, Troy, MI 48085-3780
      View Details
    • Value Estimation by Request
      0.68 Acres

      43037 Dequindre Rd

      COMMERCIAL (GENERAL) • 0.68 Acres
      43037 Dequindre Rd, Troy, MI 48085-1101
      View Details
    • Value Estimation
      $590,000
      2,415 SF

      41167 Dequindre Rd

      COMMERCIAL (GENERAL) • 2,415 SF
      41167 Dequindre Rd, Troy, MI 48085-4055
      View Details

    Similar Nearby for Sale

    • $1,250,000
      0.81 Acres

      Prime Troy Commercial Land

      0.81-acre lot, excellent visibility
      43109 Dequindre Rd, Troy, MI 48085
      View Details
    • $328,000
      1,457 SF

      Upgraded Condo in Prime Location

      Recently upgraded 2-bedroom condo with modern amenities in Troy, MI.
      1128 Alameda Blvd, Troy, MI 48085
      View Details
    • Contact for pricing
      19,280 SF

      Colonial Style Building on Rochester

      Newer construction building with private entrances and prominent signage.
      6535-6585 Rochester Rd, Troy, MI 48085
      View Details
    • $328,000
      1,457 SF

      Upgraded Condo in Prime Location

      Recently upgraded 2-bedroom condo with modern amenities and convenient location.
      1128 Alameda Blvd, Troy, MI 48085
      View Details
    • $2,977,000
      9.16 Acres

      Troy Residential Land Development

      9.16 Acres, R-1C Zoned, Prime Location
      5845 John R Rd, Troy, MI 48085
      View Details
    • $69,000

      Established Salon and Jewelry Store

      Fully equipped salon and jewelry store with established client database.
      6451 Rochester Rd, Troy, MI 48085
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,150 SF

      Kings Row Retail Space Available

      Troy, MI Retail Center: Two Spaces Available
      5060 Rochester Rd, Troy, MI 48085
      View Details
    • $17 SF/Yr
      11,100 SF

      Troy Office Complex: Two Buildings

      Executive & medical suites, 1,650-3,238 sq ft
      6915 Rochester Rd And 89 Blvd, Troy, MI 48085
      View Details
    • $13 SF/Yr
      1,979 SF

      Affordable Retail Space in Troy

      High-traffic retail space with renovated facade and new pylon sign.
      1977 E Wattles Rd, Troy, MI 48085
      View Details
    • $15 SF/Yr
      2,130 SF

      Furnished Dental Suite Available

      Furnished dental suite for rent with equipment in place.
      4893-4897 Rochester Rd, Troy, MI 48085
      View Details
    • $19 SF/Yr
      2,500 SF

      Single Story Office Suite

      Well-maintained office space with convenient parking and high-end finishes.
      70 W Long Lake Rd, Troy, MI 48085
      View Details
    • $2,400 /Mo
      1,711 SF

      Spacious Condo with Modern Amenities

      Three-bedroom condo with modern finishes, community amenities, and convenient location.
      1172 Alameda Blvd, Troy, MI 48085
      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.
    2838 Long Lk Rd
    Troy, MI 48085-7012
    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.