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

    29901 Ford Rd Garden City, MI 48135

    • Retail space
    • 10,880 SF
    • 0.76 lot acres
    For Lease
    View listing
    $11,780 /Mo
    Last Sale
    Aug 28, 2024
    $1,600,000
    Value Estimations
    $1,600,000
    Cap Rate Potential
    6.4%
    Retail space
    Location Intelligence
    Property ID
    US43-1079658
    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

    • Happy home furniture / Furniture Store
    • Garden City Claim Adjuster / Loss Adjuster

    Property Details for 29901 Ford Rd

    Year built
    1997
    Construction
    CONCRETE BLOCKS
    Lot size
    0.76 lot acres
    Property size
    10,880 SF
    Property type
    Retail space
    APN
    35 016 01 0017 000
    APU
    35016010017000

    Description

    This exceptional 10,880 square foot retail space, formerly a CVS Pharmacy, presents a remarkable opportunity for businesses seeking high visibility and strong foot traffic. Located at 29901 Ford Road in Garden City, Michigan, this single-tenant property sits on a 1.25-acre lot in the heart of a thriving retail area. The building has undergone a complete renovation, resulting in a modern and attractive space ready for immediate occupancy. Its prime location on heavily traveled Ford Road, at a hard signalized intersection, ensures maximum exposure to potential customers. The property benefits from ample on-site parking, further enhancing its appeal. This location is strategically positioned adjacent to ALDI and other national retailers, creating a synergistic environment within a vibrant shopping hub. The property's 10,880 square feet of vacant space offers significant flexibility for a variety of retail uses. Wayne County's strong economic base and the high density of the surrounding area contribute to a robust customer base. This is an exceptional opportunity to establish a business in a high-demand location with significant potential for success. The property's zip code is 48135.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,600,000
      ML approach
      $1,600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,720,000
      6.5%
      $1,585,000
      7%
      $1,475,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,060,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,485,000
      Change: +21% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Wayne
    State
    Michigan
    Longitude
    -83.336
    Latitude
    42.325
    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
    2019
    $27,930
    $0.00
    $0.00
    $472,100
    -
    $0.00
    $0.00
    $944,200

    Comparable in this City

    • Value Estimation by Request
      1,136 SF

      Frd Ford

      RETAIL STORES (PERSONAL SERVICES) • 1,136 SF
      Frd Ford, Garden City, MI 48135
      View Details
    • Value Estimation by Request
      710 SF

      27627 Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 710 SF
      27627 Frd Rd, Garden City, MI 48135-2922
      View Details
    • Value Estimation
      $725,000
      5,000 SF

      30459 Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      30459 Frd Rd, Garden City, MI 48135-1802
      View Details
    • Value Estimation by Request
      800 SF

      28623 Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      28623 Frd Rd, Garden City, MI 48135-2845
      View Details
    • Value Estimation
      $1,265,000
      6,476 SF

      33135 Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,476 SF
      33135 Frd Rd, Garden City, MI 48135-1153
      View Details
    • Value Estimation
      $995,000
      6,192 SF

      29017 Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,192 SF
      29017 Frd Rd, Garden City, MI 48135-2847
      View Details

    Similar Nearby for Sale

    • $69,900

      Turnkey Phone Accessory Business

      Operating phone accessory and repair business in busy strip center.
      673-695 Inkster Rd, Garden City, MI 48135
      View Details
    • $299,900

      Versatile Commercial Building For Sale

      High-visibility commercial building suitable for retail, office, or medical use.
      6985 Merriman Rd, Garden City, MI 48135
      View Details
    • $50,000
      1,000 SF

      Turn-Key Salon & Training Opportunity

      Fully equipped salon with training operation in Garden City, MI.
      6683 Middlebelt Rd, Garden City, MI 48135
      View Details
    • $100,000

      Turn-Key Restaurant on Ford Road

      Fully equipped restaurant with high visibility and ample parking.
      30155 Ford Rd, Garden City, MI 48135
      View Details
    • $1,150,000

      Automotive Facility on Ford Road

      Automotive repair and used car dealership on 1.57 acres.
      29944 Ford Rd, Garden City, MI 48135
      View Details
    • $265,000

      Commercial Land For Sale

      Commercial land available for sale.
      28022 Ford Rd, Garden City, MI 48135
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      750 SF

      Retail Spaces Available For Rent

      Retail spaces available with road presence and foot traffic.
      105 Middlebelt Rd, Garden City, MI 48135
      View Details
    • $1,349 /Mo

      Garden City Office/Retail Space

      Prime office and retail spaces available in Garden City.
      30120 Ford Rd, Garden City, MI 48135
      View Details
    • Contact for pricing
      20,337 SF

      Retail Space in Garden City

      Retail space available in Garden City Towne Center.
      5866 Middlebelt Rd, Garden City, MI 48135
      View Details
    • $11,780 /Mo

      Renovated Retail Space on Ford Road

      Fully renovated retail space with ample parking and excellent exposure.
      29901 Ford Rd, Garden City, MI 48135
      View Details
    • $1,450 /Mo

      Retail/Office Space on Ford Road

      1,250 sqft unit suitable for retail or office use.
      30958 Ford Rd, Garden City, MI 48135
      View Details
    • $1,800 /Mo

      Renovated Salon Suites Available

      Completely renovated salon suites for lease on Warren Avenue.
      27621 Warren Rd, Garden City, MI 48135
      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.
    29901 Ford Rd
    Garden City, MI 48135
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.