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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    28655 Schoenherr Rd Warren, MI 48088-6336

    • Turn key restaurants
    • 7,988 SF
    • 1.43 lot acres
    OFF-MARKET
    Last Sale
    Mar 20, 2020
    $723,887
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1198952
    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

    • Plaza Bingo 12 / Bingo Hall

    Property Details for 28655 Schoenherr Rd

    Year built
    1989
    Lot size
    1.43 lot acres
    Property size
    7,988 SF
    Zone code
    C-2
    Property type
    Turn key restaurants
    APN
    12-13-14-226-010
    APU
    121314226010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $505,000
      Market price range: $506k - $854k
      AI Estimate
      $505,000
      Market price range: $506k - $854k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $690,000
      Current use
      RETAIL STORES
      $830,000
      Change: +20% Conversion: Easy
      OFFICE BUILDING
      $755,000
      Change: +10% Conversion: Moderate
      MEDICAL BUILDING
      $645,000
      Change: -7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $625,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9879
    Latitude
    42.5053
    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
    $18,447
    $0.00
    $0.00
    $280,830
    -
    $0.00
    $0.00
    $561,660

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation by Request
      4,609 SF

      15198 13th Mile Rd

      RESTAURANT • 4,609 SF
      15198 13th Mile Rd, Warren, MI 48088-3395
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    • Value Estimation by Request
      3,463 SF

      13440 13th Mile Rd

      RESTAURANT • 3,463 SF
      13440 13th Mile Rd, Warren, MI 48088-3187
      View Details
    • Value Estimation by Request
      2,340 SF

      15155 12th Mile Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,340 SF
      15155 12th Mile Rd, Warren, MI 48088-5315
      View Details
    • Value Estimation by Request
      5,709 SF

      30837 Schoenherr Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,709 SF
      30837 Schoenherr Rd, Warren, MI 48088-6857
      View Details
    • Value Estimation by Request
      5,500 SF

      15015 13th Mile Rd

      BAR, TAVERN • 5,500 SF
      15015 13th Mile Rd, Warren, MI 48088-3312
      View Details

    Similar Nearby for Sale

    • $799,000
      2,157 SF

      Warren Redevelopment Opportunity

      Prime Retail Site, High Traffic Area
      14801 Twelve Mile Rd, Warren, MI 48088
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    • $40,000
      5,520 SF

      Established Jewelry Business Opportunity

      Turnkey jewelry business with showroom, fixtures, and loyal customer base.
      32879 Schoenherr Rd, Warren, MI 48088
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    • Contact for pricing
      31,500 SF

      Class A Medical Office Building

      High visibility medical office building near Ascension Macomb, quick highway access.
      27472 Schoenherr Rd, Warren, MI 48088
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    • $425,000
      1.02 Acres

      Warren Commercial Land - $425K

      1.02-Acre C-1 Zoned Lot, High Visibility
      28877 Schoenherr Rd, Warren, MI 48088
      View Details
    • $425,000

      Developed Site Ready to Build

      Fully developed site with high visibility and drive-thru potential.
      28877 Schoenherr Rd, Warren, MI 48088
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      18,000 SF

      Schoenherr 13 Plaza: Retail Space Available

      High-traffic retail center; 6,000 sq ft vacant.
      30810 Schoenherr Rd, Warren, MI 48088
      View Details
    • $20 SF/Yr
      2,247 SF

      Retail Space in Warren, MI

      End-cap retail space available in recently developed shopping center.
      13590 E 14 Mile Rd, Warren, MI 48088
      View Details
    • $35 SF/Yr
      12,000 SF

      Star Deli Plaza: Retail Spaces Available

      Roseville, MI: 3 Retail Units for Lease
      24529-24555 12 Mile Rd, Roseville, MI 48088
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    • $23 SF/Yr
      2,157 SF

      Prime Warren Retail Space

      Free-standing building, 2,157 sq ft
      14801 Twelve Mile Rd, Warren, MI 48088
      View Details
    • $2,950 /Mo

      Retail/Office Space Available For Rent

      Retail and office space available for lease.
      28565 Schoenherr Rd, Warren, MI 48088
      View Details
    • $1,500 /Mo

      Office/Retail Space in Warren

      2,000 sqft space suitable for office or retail use.
      15093 E 13 Mile Rd, Warren, MI 48088
      View Details
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    28655 Schoenherr Rd
    Warren, MI 48088-6336
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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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