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

    31007 Groesbeck Hwy Fraser, MI 48026-2516

    • Retail space
    • 6,488 SF
    • 0.55 lot acres
    OFF-MARKET
    Value Estimations
    $735,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1324970
    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

    • Original Buscemi's / Pizza Restaurant / Restaurant
    • Sunshine Foods / Convenience Store

    Property Details for 31007 Groesbeck Hwy

    Year built
    1975
    Lot size
    0.55 lot acres
    Property size
    6,488 SF
    Zone code
    CG
    Property type
    Retail space
    APN
    03-14-05-353-014
    APU
    31405353014

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $733,000
      Market price range: $371k - $1.09M
      AI Estimate
      $733,000
      Market price range: $371k - $1.09M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $675,000
      Current use
      RESTAURANT
      $920,000
      Change: +36% Conversion: Easy
      MEDICAL BUILDING
      $795,000
      Change: +18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $665,000
      Change: -1% Conversion: Easy
      OFFICE BUILDING
      $615,000
      Change: -9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $560,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fraser
    County
    Macomb
    State
    Michigan
    Longitude
    -82.947
    Latitude
    42.5245
    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
    $10,749
    $0.00
    $0.00
    $257,600
    -
    $0.00
    $0.00
    $515,200

    Comparable in this City

    • Value Estimation
      $785,000
      4,683 SF

      31185 Utica Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,683 SF
      31185 Utica Rd, Fraser, MI 48026-2537
      View Details
    • Value Estimation by Request
      3,040 SF

      32585 Groesbeck Hwy

      RETAIL STORES (PERSONAL SERVICES) • 3,040 SF
      32585 Groesbeck Hwy, Fraser, MI 48026-3151
      View Details
    • Value Estimation by Request
      2,001 SF

      31000 Groesbeck Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,001 SF
      31000 Groesbeck Hwy, Fraser, MI 48026-2515
      View Details
    • Value Estimation
      $1,030,000
      6,137 SF

      31020 Utica Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,137 SF
      31020 Utica Rd, Fraser, MI 48026-2534
      View Details
    • Value Estimation
      $1,655,000
      17,478 SF

      18660 15th Mile Rd

      RETAIL STORES (PERSONAL SERVICES) • 17,478 SF
      18660 15th Mile Rd, Fraser, MI 48026-3462
      View Details
    • Value Estimation by Request
      2,540 SF

      32000 Utica Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,540 SF
      32000 Utica Rd, Fraser, MI 48026-2207
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,040 SF

      Corner Retail Unit with Basement

      Retail space with high visibility and finished basement available.
      34501-34517 Utica Rd, Fraser, MI 48026
      View Details
    • $174,900
      1,127 SF

      Fraser Commercial Property For Sale

      Commercial property in Fraser, Michigan, suitable for retail or restaurant.
      33060 Groesbeck Hwy, Fraser, MI 48026
      View Details
    • Contact for pricing
      2,980 SF

      Operating Car Wash on 0.80 Acres

      Operating 5-bay coin car wash on a 0.80-acre site.
      31062 Utica Rd, Fraser, MI 48026
      View Details
    • $4,600,000
      22,703 SF

      31490 Utica Rd

      Restaurants • 22,703 SF
      31490 Utica Rd, Fraser, MI 48026
      View Details
    • $55,000
      725 SF

      Fraser Condo with Low HOA

      Manageable condo with low HOA fee including most utilities.
      34500 Mulvey, Fraser, MI 48026
      View Details
    • $499,000
      5,089 SF

      Fraser Industrial Building For Sale

      5,089 SF industrial building with fenced lot in Fraser.
      33417 Kelly Rd, Fraser, MI 48026
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space in Marcin Plaza

      Retail space available in Marcin Plaza on Groesbeck Hwy.
      31896-31938 Groesbeck Hwy, Fraser, MI 48026
      View Details
    • $22 SF/Yr
      14,040 SF

      Retail Space in High-Traffic Area

      1,167 SF retail space with excellent parking and high visibility.
      Fraser, MI 48026
      View Details
    • $4,241 /Mo

      Renovated Retail Space Available

      Prime commercial space with high visibility and ample parking.
      16775 E 13 Mile Rd, Fraser, MI 48026
      View Details
    • $1,495 /Mo

      Retail Space on High-Traffic Corner

      Retail space available on a high-traffic corner with monument signage.
      16066 15 Mile Rd, Fraser, MI 48026
      View Details
    • $2,535 /Mo

      Renovated Retail Space Available

      Prime commercial space with high visibility and ample parking.
      16773 E 13 Mile Rd, Fraser, MI 48026
      View Details
    • $16 SF/Yr
      19,750 SF

      Signature Square Retail Space

      Fraser, MI retail/office opportunity. High traffic location.
      16000-16078 15 Mile Rd, Fraser, MI 48026
      View Details
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    Fraser, MI 48026-2516
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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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