Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    29019 Sheeks Blvd S Flat Rock, MI 48134
    Back to Search
    Property profile & analytics

    29019 Sheeks Blvd S, Flat Rock, MI 48134

    View on Map
    • Commercial real estate
    • 2,197 SF
    • 0.13 lot acres
    For Sale
    $369,000
    View Listing →
    Flat Rock Multifamily Investment For Sale
    $369,000
    0.13 Acres

    Flat Rock Multifamily Investment

    Fully leased four-unit multifamily property near downtown Flat Rock.

    29019 Sheeks S, Flat Rock, MI 48134
    View Listing
    Property ID
    US43-1632713
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 29019 Sheeks Blvd S

    Lot size
    0.13 lot acres
    Property type
    Commercial real estate
    APN
    58-138-03-0003-002

    Description

    This exceptional investment opportunity presents a four-unit apartment building located at 29019 Sheeks Boulevard, Flat Rock, Michigan, 48134. The property, classified as a Class C multifamily building, boasts a total of 2,197 square feet situated on a 0.129-acre lot. The asking price is $260,000, translating to a price per square foot of $118.34. The building features two stories and provides two parking spaces. Each of the four units is a one-bedroom, one-bathroom apartment. Individual furnaces are installed in each unit, and tenants are responsible for their own gas and electric utilities. Water utility costs have been billed back to tenants since 2022. The property enjoys a strong net operating income (NOI) of $16,484. The property is conveniently located just one mile from the Flat Rock Ford Plant, offering significant potential for tenant occupancy. The permitted zoning is R-1C Residential, and the APN is 58-138-03-0003-002. This property represents a solid investment opportunity in a desirable location with proven income generation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Flat Rock
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2853681
    Latitude
    42.0941749

    Comparable in this City

    • New
      $369,000
      0.13 Acres

      Flat Rock Multifamily Investment

      Fully leased four-unit multifamily property near downtown Flat Rock.
      29019 Sheeks Blvd S, Flat Rock, MI 48134
      View Details
    • $2,400,000

      Truck Repair Facility with Warehouse

      Truck repair facility with warehouse near I-75 and Ford plant.
      14544 Telegraph Rd, Flat Rock, MI 48134
      View Details
    • Contact for pricing

      Vacant Land in Brownstown Township

      9.54-20.23 acres of vacant land in fast-growing Brownstown Township.
      Sibley Rd And Pne Rd W, Brownstown, MI 48134
      View Details
    • Contact for pricing

      Vacant Land in Brownstown Township

      Vacant land in a fast-growing area near major companies.
      Sibley Rd And Cadillac School Dr, Brownstown, MI 48134
      View Details
    • $929,000
      20.00 Acres

      Flat Rock Development Opportunity

      20.09 acres in Flat Rock, ideal for development.
      Gibraltar Rd, Flat Rock, MI 48134
      View Details
    • $179,900
      4.69 Acres

      Residential Land in Brownstown Township

      4.69 acres of vacant residential land off Telegraph Road.
      25712 Telegraph Rd, Brownstown Twp, MI 48134
      View Details

    Similar Nearby for Sale

    • New
      $369,000
      0.13 Acres

      Flat Rock Multifamily Investment

      Fully leased four-unit multifamily property near downtown Flat Rock.
      29019 Sheeks Blvd S, Flat Rock, MI 48134
      View Details
    • $929,000
      20.00 Acres

      Flat Rock Development Opportunity

      20.09 acres in Flat Rock, ideal for development.
      Gibraltar Rd, Flat Rock, MI 48134
      View Details
    • $179,900
      4.69 Acres

      Residential Land in Brownstown Township

      4.69 acres of vacant residential land off Telegraph Road.
      25712 Telegraph Rd, Brownstown Twp, MI 48134
      View Details
    • Contact for pricing

      Flat Rock Development Opportunity

      Land available on main road with utilities at street.
      27200 Telegraph Rd, Flat Rock, MI 48134
      View Details
    • $295,000

      Telegraph Road Frontage Building

      High-traffic corner lot with excellent exposure on Telegraph Road.
      Flt, Rock, MI 48134
      View Details
    • Contact for pricing
      1,247 SF

      Established Sub Shop For Sale

      Well-established sub shop available for purchase in Flat Rock.
      28801 Telegraph Rd, Flat Rock, MI 48134
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Truck Repair Facility with Warehouse

      Truck repair facility with warehouse space near I-75.
      14544 Telegraph Rd, Flat Rock, MI 48134
      View Details
    • $5 SF/Yr

      Truck Repair Facility with Warehouse

      Truck repair facility with warehouse space near I-75.
      14544 Telegraph Rd, Flat Rock, MI 48134
      View Details
    • Contact for pricing

      Retail Space in Gibraltar Plaza

      Retail space for lease in Flat Rock, Michigan.
      24605 Gibraltar Rd, Flat Rock, MI 48134
      View Details
    • Contact for pricing

      Telegraph Road Commercial Space Available

      Retail, office, and restaurant spaces for lease on Telegraph.
      25731-25755 Telegraph Rd, Flat Rock, MI 48134
      View Details
    • $1,950 /Mo

      Versatile Commercial Property with Bonus Rooms

      Commercial property featuring bonus rooms suitable for office or studio.
      13011 Telegraph Rd, Flat Rock, MI 48134
      View Details
    View Listing
    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.
    29019 Sheeks Blvd S
    Flat Rock, MI 48134
    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

    Thank You for Inquiry
    29019 Sheeks Blvd S, Flat Rock, MI, 48134
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!