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    31051 Frd Rd Garden City, MI 48135-1808
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    Property profile & analytics

    31051 Frd Rd Garden City, MI 48135-1808

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    • Turn key restaurants
    • 540 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Apr 29, 2021
    $260,000
    Property ID
    US43-1974736
    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

    • King Kone / Grocery & Convenience Store / Specialty Food Shop

    Property Details for 31051 Frd Rd

    Year built
    1953
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Property size
    540 SF
    Property type
    Turn key restaurants
    APN
    35 017 02 0474 000
    APU
    35017020474000

    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
    Garden City
    County
    Wayne
    State
    Michigan
    Longitude
    -83.348
    Latitude
    42.3249
    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
    $1,522
    $0.00
    $0.00
    $26,800
    -
    $0.00
    $0.00
    $53,600

    Comparable in this City

    • Value Estimation by Request
      1,310 SF

      7021 Merriman Rd

      RESTAURANT • 1,310 SF
      7021 Merriman Rd, Garden City, MI 48135-1961
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    • Value Estimation by Request
      7,040 SF

      32777 Warren Rd

      RESTAURANT • 7,040 SF
      32777 Warren Rd, Garden City, MI 48135-1639
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    • Value Estimation by Request
      4,334 SF

      5662 Middlebelt Rd

      RESTAURANT • 4,334 SF
      5662 Middlebelt Rd, Garden City, MI 48135-2456
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    • Value Estimation by Request
      3,376 SF

      5652 Middlebelt Rd

      RESTAURANT • 3,376 SF
      5652 Middlebelt Rd, Garden City, MI 48135-2456
      View Details
    • Value Estimation
      $790,000
      8,169 SF

      28340 Frd Rd

      RESTAURANT • 8,169 SF
      28340 Frd Rd, Garden City, MI 48135-2928
      View Details
    • Value Estimation
      $790,000
      7,558 SF

      29633 Frd Rd

      RESTAURANT • 7,558 SF
      29633 Frd Rd, Garden City, MI 48135-2366
      View Details

    Similar Nearby for Sale

    • $100,000
      Pending

      Turn-Key Restaurant on Ford Road

      Fully equipped restaurant with high visibility and ample parking.
      30155 Ford Rd, Garden City, MI 48135
      View Details
    • $125,000
      5,865 SF

      Established Cafe on Ford Road

      High-visibility cafe with strong reviews and franchise opportunity.
      29210 Ford Rd, Garden City, MI 48135
      View Details
    • $450,000

      Retail Gem on Ford Road

      Prime retail property in Garden City with high visibility.
      33775 Ford Rd, Garden City, MI 48135
      View Details
    • $525,000

      Retail Property on Ford Road

      Retail property for sale in a high-traffic Garden City location.
      33729 Ford Rd, Garden City, MI 48135
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo
      1,200 SF

      Garden City Commercial Space

      Commercial space for office, retail, restaurant, service, or medical.
      6629 Middlebelt Rd, Garden City, MI 48135
      View Details
    • $2,000 /Mo

      Middlebelt Road Commercial Space Available

      Prime location with excellent frontage and exposure on Middlebelt Road.
      6629 Middlebelt Rd, Garden City, MI 48135
      View Details
    • $5,000 /Mo

      Ford Road Restaurant/Bar Opportunity

      Former restaurant/bar with full kitchen and seating on Ford Road.
      33729 Ford Rd, Garden City, MI 48135
      View Details
    • $2,950 /Mo

      High-Visibility Retail Space on Ford Rd

      Prime commercial lease opportunity on Ford Rd in Garden City.
      33205 S Ford Rd N, Garden City, MI 48135
      View Details
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    Garden City, MI 48135-1808
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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.

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