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

    31235 Grand River Ave Farmington, MI 48336

    • Retail space
    • 1,766 SF
    • 0.26 lot acres
    For Sale
    View listing
    $989,900
    Last Sale
    Jan 30, 2025
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1098787
    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

    • Kajy petroleum / Factory / Production Facility

    Property Details for 31235 Grand River Ave

    Year built
    1982
    Lot size
    0.26 lot acres
    Property size
    1,766 SF
    Zone code
    C3
    Property type
    Retail space
    APN
    20-23-26-356-002
    APU
    202326356002

    Description

    This 1,766 square foot industrial property in Farmington, MI, presents a compelling redevelopment opportunity for investors. Located at 31235 Grand River, the site boasts over 80 feet of road frontage on Grand River Avenue and Orchard Lake Road, ensuring high visibility and accessibility. The lot itself measures 85 feet by 133 feet, totaling 0.26 acres. This provides ample space for a variety of development projects. The property's strategic location offers significant advantages for businesses seeking high traffic exposure. Furthermore, an adjacent property (Parcel ID# 2326356003) is also available for purchase, potentially allowing for expansion or a larger-scale development. This presents a unique chance to acquire a prime piece of industrial real estate in a desirable location with significant potential for future growth and return on investment. The asking price for this exceptional opportunity is $989,900. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Oakland
    State
    Michigan
    Longitude
    -83.3564
    Latitude
    42.456
    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
    $5,680
    $0.00
    $0.00
    $124,260
    -
    $0.00
    $0.00
    $248,520

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      22748 Orch Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      22748 Orch Lk Rd, Farmington, MI 48336-3227
      View Details
    • Value Estimation
      $690,000
      4,000 SF

      24115 Orch Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      24115 Orch Lk Rd, Farmington, MI 48336-2558
      View Details
    • Value Estimation by Request
      1,297 SF

      33216 Grand Riv Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,297 SF
      33216 Grand Riv Ave, Farmington, MI 48336-3122
      View Details
    • Value Estimation
      $840,000
      3,785 SF

      22840 Orch Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,785 SF
      22840 Orch Lk Rd, Farmington, MI 48336-3229
      View Details
    • Value Estimation
      $1,365,000
      11,520 SF

      24280 Middlebelt Rd

      RETAIL STORES (PERSONAL SERVICES) • 11,520 SF
      24280 Middlebelt Rd, Farmington Hills, MI 48336-2131
      View Details
    • Value Estimation by Request
      1,000 SF

      22772 Orch Lk Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      22772 Orch Lk Rd, Farmington, MI 48336-3227
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      74 SF

      Retail Space in Farmington Hills

      Retail space in Kroger-anchored shopping center at 11 Mile and Middlebelt.
      25938 Middlebelt Rd, Farmington, MI 48336
      View Details
    • $360,000
      3,000 SF

      Prime Farmington Hills Storefront

      Fully Leased Retail Space, High ROI
      25710 Eight Mile Rd, Southfield, MI 48336
      View Details
    • $1,750,000
      9,388 SF

      Mixed-Use Building with Commercial Space

      Mixed-use building with apartments and commercial space for sale.
      29222 Grand River Ave, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      1,284 SF

      Farmington Retail Investment Opportunity

      Two Storefronts, High-Traffic Location
      31030 Grand River Ave, Farmington, MI 48336
      View Details
    • Contact for pricing
      2,824 SF

      Retail Building on Grand River

      Two-unit retail building on busy Grand River Avenue corridor.
      31030-31036 Grand River Ave, Farmington, MI 48336
      View Details
    • Contact for pricing
      96 SF

      Retail Center Anchored by Fresh Thyme

      Shopping center with national and local tenants at major intersection.
      33181 Farmington Rd, Farmington, MI 48336
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      74,187 SF

      Groves Retail Center: Farmington, MI

      Prime Farmington Retail Space Available
      33025 Grand River Ave, Farmington, MI 48336
      View Details
    • $18 SF/Yr
      74,187 SF

      Retail Space in Downtown Farmington

      Retail space for lease in downtown Farmington location.
      33025-33043 Grand River Ave, Farmington, MI 48336
      View Details
    • $14 SF/Yr
      3,156 SF

      Mixed-Use Retail and Office Space

      Retail and office spaces in walkable downtown Farmington location.
      32720-32780 Grand River Ave, Farmington, MI 48336
      View Details
    • $1,200 /Mo

      Retail or Office Space Available

      High-traffic retail/office space for lease with parking.
      24062 Orchard Lake Rd, Farmington Hills, MI 48336
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space with Commercial Kitchen

      Turnkey market with fully equipped commercial kitchen for lease.
      31550-31624 Grand River Ave, Farmington, MI 48336
      View Details
    • $7,000 /Mo
      5,600 SF

      Farmington Hills Retail/Industrial Space

      Centrally located retail/industrial spaces with high ceilings and roll-up doors.
      32210 8 Mile Rd W, Farmington Hills, MI 48336
      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.
    31235 Grand River Ave
    Farmington, MI 48336
    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.