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

    31331 Old Wixom Rd Wixom, MI 48393-2440

    • Grocery and convenience stores
    • 3,150 SF
    • 1.42 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1744730
    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

    • bp / Gas Station

    Property Details for 31331 Old Wixom Rd

    Year built
    1998
    Lot size
    1.42 lot acres
    Property size
    3,150 SF
    Zone code
    VCA
    Property type
    Grocery and convenience stores
    APN
    96-22-06-200-036
    APU
    962206200036

    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
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5391
    Latitude
    42.5238
    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
    $22,131
    $0.00
    $0.00
    $545,020
    -
    $0.00
    $0.00
    $1,090,040

    Comparable in this City

    • Value Estimation by Request
      3,053 SF

      28055 Wixom Rd

      GROCERY, SUPERMARKET • 3,053 SF
      28055 Wixom Rd, Wixom, MI 48393-3405
      View Details
    • Value Estimation by Request
      4,032 SF

      28790 Wixom Rd

      GROCERY, SUPERMARKET • 4,032 SF
      28790 Wixom Rd, Wixom, MI 48393-3412
      View Details
    • Value Estimation by Request
      6,675 SF

      2163 Wixom Rd

      GROCERY, SUPERMARKET • 6,675 SF
      2163 Wixom Rd, Wixom, MI 48393-4249
      View Details
    • Value Estimation by Request
      1,404 SF

      49200 Grand Riv Ave

      GROCERY, SUPERMARKET • 1,404 SF
      49200 Grand Riv Ave, Wixom, MI 48393-3346
      View Details
    • Value Estimation by Request
      8,270 SF

      31100 Old Wixom Rd

      GROCERY, SUPERMARKET • 8,270 SF
      31100 Old Wixom Rd, Wixom, MI 48393-2424
      View Details
    • Value Estimation by Request
      3,647 SF

      49435 Grand Riv Ave

      GROCERY, SUPERMARKET • 3,647 SF
      49435 Grand Riv Ave, Wixom, MI 48393-3304
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      44,000 SF

      North Park Plaza Retail Space

      Wixom, MI Strip Center - Prime Retail Space Available
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    • Contact for pricing

      Wixom Industrial Land - Last Parcel Available

      M-2 Zoned Land, Outdoor Storage, I-96 Access
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      Land Available in Wixom, MI

      Land available for sale at 51563 Grand River Ave.
      51563 Grand River Ave, Wixom, MI 48393
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    • $25,000,000

      30990 Wixom Rd

      Specialty properties
      30990 Wixom Rd, Wixom, MI 48393
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    • $315,000
      1,100 SF

      Industrial Warehouse with Cold Storage

      Free-standing industrial warehouse building with cold storage unit included.
      29362 Lorie Ln, Wixom, MI 48393
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    • $525,000
      0.53 Acres

      Prime Vacant Land in Wixom

      Vacant land ideal for development in downtown Wixom.
      216 N Wixom Rd, Wixom, MI 48393
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,000 SF

      Retail Space in North Park Plaza

      High-visibility retail spaces available in Wixom, near I-96.
      2051-2133 N Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      490 SF

      Wixom Meijer Retail Space

      High-traffic in-store retail space
      49900 Grand River Ave, Wixom, MI 48393
      View Details
    • $22 SF/Yr
      2,100 SF

      Retail Space Near I-96

      Retail space available near I-96 and major traffic generators.
      49575 Grand River Ave, Wixom, MI 48393
      View Details
    • Contact for pricing
      14,000 SF

      Retail Space in North Park Plaza

      Retail, office, and medical spaces available in Wixom, Michigan.
      2051 N Wixom Rd, Wixom, MI 48393
      View Details
    • $15 SF/Yr
      68,988 SF

      Pontiac Trail Commercial Center

      Wixom retail & office space available
      49078 Pontiac Trl, Wixom, MI 48393
      View Details
    • $14 SF/Yr
      31,645 SF

      Wixom Office Space For Lease

      Executive Suites, Ample Space Available
      1537-1585 Wixom Rd, Wixom, MI 48393
      View Details

    Property Visit Statistics

    • Visits by month
      19.8k
    • Visitors by month
      9.8k
    • Avg Time on site
      6 min
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    31331 Old Wixom Rd
    Wixom, MI 48393-2440
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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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