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    2985 Haggerty Rd Commerce Township, MI 48390-1722
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    Property profile & analytics

    2985 Haggerty Rd, Commerce Township, MI 48390-1722

    View on Map
    • Retail space
    • 9,798 SF
    • 1.52 lot acres
    Off-Market
    Last Sale Nov 9, 2021
    $900,000
    Property ID
    US43-4747643
    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
    $1,035,000
    Show details
    Cap Rate Potential
    9.6%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 2985 Haggerty Rd

    Year built
    1970
    Lot size
    1.52 lot acres
    Zone code
    II
    Property type
    Retail space
    APN
    E -17-24-200-009
    APU
    E1724200009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 9, 2021 $900,000 2985 Haggerty LLC Llam Holding LLC Warranty Deed $675k · Northstar Bank
    Nov 16, 2020 — Ilam Hldg LLC — Deed · related $40k · Dort FCU
    Aug 17, 2017 — Wb Commerce Sterling Bk & Trust Quit Claim Deed · related —
    Aug 16, 2017 $679,000 Ilam Holding LLC Louis Glazier Deed —
    Aug 15, 2016 — Wb Real Estate Detroit LLC — Deed · related $6M · Tca Global Credit Master Fund LP Tca Global Credit Master Fund LP
    Oct 8, 2008 $965,000 Wb Commerce LLC Haggerty Investments LLC Warranty Deed $1M · Huntington National Bank
    Oct 6, 2008 — Haggerty Investments LLC Peninsula Equities LLC Quit Claim Deed · related —
    Jul 8, 2008 $149,763 Sterling Bank & Trust Fsb Sheriff Of Oakland County Trustees Deed · related —
    Jul 27, 2001 $860,000 Haggerty Investments LLC Bank One Michigan Grant Deed · related $770k · Tcf National Bank
    May 9, 2000 $700,000 Bank One Michigan Sheena,mary E & Halim M Trustees Deed · related —
    — — Wb Real Estate Detroit LLC — Deed Of Trust · related $6M · Tca Global Credit Master Fund LP Tca Global Credit Master Fund LP
    — — Halim M Sheena — Deed Of Trust · related $179k · Huntington National Bank
    — — Haggerty Investments LLC — Deed Of Trust · related $760k · Sterling Bank & Trust Fsb
    — — Haggerty Investments LLC — Deed Of Trust · related $50k · Tcf National Bank
    — — Haggerty Investments LLC — Deed Of Trust · related $150k · Sterling Bank & Trust Fsb
    — — Ilam Hldg LLC — Loan Modification · related $40k · Dort FCU

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,105,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,252,000
      Market price range: $770k - $2.57M
      AI Estimate
      $1,017,000
      Market price range: $612k - $2.13M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,655,000
      Current use
      RESTAURANT
      $1,695,000
      Change: +3% Conversion: Easy
      MEDICAL BUILDING
      $1,545,000
      Change: -6% Conversion: Difficult
      OFFICE BUILDING
      $1,525,000
      Change: -8% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Commerce Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4404
    Latitude
    42.5658
    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
    $19,622
    $0.00
    $0.00
    $420,540
    -
    $0.00
    $0.00
    $841,080

    Comparable in this City

    • Value Estimation by Request
      8.32 Acres

      Of Martin Pkwy

      Individual retail properties
      0 Of Martin Pkwy, Commerce Charter Township, MI 48390
      View Details
    • Value Estimation
      $735,000
      4,576 SF

      1124 Ew Maple Rd

      RETAIL STORES (PERSONAL SERVICES)
      1124 Ew Maple Rd, Walled Lake, MI 48390-3761
      View Details
    • Value Estimation
      $1,760,000
      10,880 SF

      Walled Lake, MI 48390

      RETAIL STORES (PERSONAL SERVICES)
      Walled Lake, MI 48390
      View Details
    • Value Estimation
      $2,335,000
      16,754 SF

      1010 Ew Maple Rd

      RETAIL STORES (PERSONAL SERVICES)
      1010 Ew Maple Rd, Walled Lake, MI 48390-3571
      View Details
    • Value Estimation by Request
      2,464 SF

      1655 Glengary Rd

      RETAIL STORES (PERSONAL SERVICES)
      1655 Glengary Rd, Wolverine Lake, MI 48390-1128
      View Details
    • Value Estimation
      $705,000
      4,367 SF

      105 Walled Lk Dr

      RETAIL STORES (PERSONAL SERVICES)
      105 Walled Lk Dr, Walled Lake, MI 48390-3553
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,015 SF

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      Retail Strip Center For Sale

      Neighborhood retail strip center with high-traffic location in Milford, MI.
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      Walled Lake Commercial Opportunity

      Commercial building and established business for sale in Walled Lake.
      121 E Walled Lake Dr, Walled Lake, MI 48390
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    • New
      Contact for pricing

      Full-Service Gas Station Market

      Full-service destination gas station with a drive-thru and convenience-focused retail concept.
      1237 W Maple Rd, Walled Lake, MI 48390
      View Details
    • Contact for pricing

      Land on Martin Parkway

      Land suitable for retail, office, or medical development.
      W Side Of Martin Pkwy, Commerce Township, MI 48390
      View Details
    • Contact for pricing
      2,633 SF

      Freestanding Restaurant with Drive-Thru

      2,633 SF restaurant with drive-thru in downtown Walled Lake.
      976 N Pontiac Trl, Walled Lake, MI 48390
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,450 SF

      Retail Center Space Available

      Well-maintained retail center with spaces suitable for various uses.
      4052-4100 Haggerty Rd, Commerce Township, MI 48390
      View Details
    • Contact for pricing
      3,482 SF

      End-Cap Retail Space with Drive-Thru

      3,482 SF end-cap space with drive-thru, monument signage.
      2141 N Pontiac Trl, Commerce Township, MI 48390
      View Details
    • Contact for pricing
      1,320 SF

      Walled Lake Retail Space Available

      1320 SF retail space in a neighborhood-focused environment.
      1320-1340 S Commerce Rd, Walled Lake, MI 48390
      View Details
    • Contact for pricing

      Commerce Township Retail Space Available

      Prime retail space for lease in Maple Park Plaza.
      1001 Welch Rd, Walled Lake, MI 48390
      View Details
    • Contact for pricing

      Versatile Commercial Space Available

      Prime lease opportunities in high-traffic location suitable for various businesses.
      1110 N Pontiac Trl, Walled Lake, MI 48390
      View Details
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    Commerce Township, MI 48390-1722
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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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