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

    28971 Wixom Rd Wixom, MI 48393-3417

    • Outlet malls
    • 18,903 SF
    • 2.90 lot acres
    OFF-MARKET
    Value Estimations
    $3,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4292939
    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

    • ALDI / Supermarket / Grocery Store

    Property Details for 28971 Wixom Rd

    Year built
    2017
    Lot size
    2.90 lot acres
    Property size
    18,903 SF
    Zone code
    B-1
    Property type
    Outlet malls
    APN
    96-22-07-200-015
    APU
    962207200015

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,553,000
      Market price range: $1.48M - $4.97M
      AI Estimate
      $2,886,000
      Market price range: $1.18M - $4.10M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,190,000
      Current use
      COMMERCIAL (GENERAL)
      $3,330,000
      Change: +4% Conversion: Easy
      RESTAURANT
      $3,270,000
      Change: +3% Conversion: Easy
      MEDICAL BUILDING
      $2,985,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5371
    Latitude
    42.5028
    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
    2023
    $49,607
    $0.00
    $0.00
    $1,193,080
    -
    $0.00
    $0.00
    $2,386,160

    Comparable in this City

    • Value Estimation
      $17,745,000
      233,158 SF

      10400 Assembly Park Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 233,158 SF
      10400 Assembly Park Dr, Wixom, MI 48393-0009
      View Details
    • Value Estimation
      $1,700,000
      7,540 SF

      49582 Grand Riv Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 7,540 SF
      49582 Grand Riv Ave, Wixom, MI 48393-3301
      View Details
    • Value Estimation
      $15,245,000
      208,276 SF

      49860 Grand Riv Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 208,276 SF
      49860 Grand Riv Ave, Wixom, MI 48393-3318
      View Details
    • Value Estimation
      $1,845,000
      7,695 SF

      28850 Wixom Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 7,695 SF
      28850 Wixom Rd, Wixom, MI 48393-3414
      View Details
    • Value Estimation
      $3,340,000
      15,033 SF

      48900 12th Mile Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 15,033 SF
      48900 12th Mile Rd, Wixom, MI 48393-3715
      View Details
    • Value Estimation
      $4,950,000
      45,464 SF

      2051 Wixom Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 45,464 SF
      2051 Wixom Rd, Wixom, MI 48393-1271
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      44,000 SF

      North Park Plaza Retail Space

      Wixom, MI Strip Center - Prime Retail Space Available
      2051 Wixom Rd, Wixom, MI 48393
      View Details
    • $350,000
      0.54 Acres

      Wixom Commercial Land - $350K

      Prime 0.536-acre lot, ideal for development.
      216 Wixom Rd, Wixom, MI 48393
      View Details
    • $899,000
      3.00 Acres

      Wixom Commercial Land - 3 Acres

      Prime 3-acre commercial lot, excellent location.
      1950 Wixom Rd, Wixom, MI 48393
      View Details
    • $59,900

      Wixom Land For Sale

      Half-acre lot available in Wixom.
      570 Maplewood Ln, Wixom, MI 48393
      View Details
    • $425,000
      0.62 Acres

      Wixom Commercial Land For Sale

      Commercial land in IRO District, Wixom, MI. Development opportunity.
      50272 Grand River Ave, Wixom, MI 48393
      View Details
    • $399,900
      1,493 SF

      Versatile Commercial Property in Wixom

      IRO zoned property suitable for office, research, or light industrial.
      50274 Grand River Ave, Wixom, MI 48393
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,000 SF

      Retail Space in North Park Plaza

      Retail, office, and medical spaces available in Wixom, Michigan.
      2051 N Wixom Rd, Wixom, MI 48393
      View Details
    • $15 SF/Yr
      68,988 SF

      Pontiac Trail Commercial Center

      Wixom retail & office space available
      49078 Pontiac Trl, Wixom, MI 48393
      View Details
    • Contact for pricing
      44,000 SF

      Retail Space in North Park Plaza

      High-visibility retail spaces available in Wixom, near I-96.
      2051-2133 N Wixom Rd, Wixom, MI 48393
      View Details
    • $16 SF/Yr
      41,732 SF

      Wixom Plaza Retail Space Available

      Prime Wixom retail space, multiple units.
      47410-47472 Pontiac Trl, Wixom, MI 48393
      View Details
    • $18 SF/Yr
      8,000 SF

      Wixom Road Executive Office Space

      High-traffic Wixom Road office suite.
      29650-29680 Wixom Rd, Wixom, MI 48393
      View Details
    • $14 SF/Yr
      31,645 SF

      Wixom Office Space For Lease

      Executive Suites, Ample Space Available
      1537-1585 Wixom Rd, Wixom, MI 48393
      View Details
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    Wixom, MI 48393-3417
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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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