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

    31549 Harper Ave Saint Clair Shores, MI 48082-2455

    • Medical offices
    • 2,390 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Oct 07, 2024
    $400,000
    Value Estimations
    $370,000
    Show details
    Cap Rate Potential
    6.3%
    Medical offices
    Location Intelligence
    Property ID
    US43-0901755
    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

    • Clair Shores Garage Doors Repair LLC / Contractor / Garage Door Supplier
    • Scott Tisdale / Dentist
    • Merit Dental - St. Clair Shores / Dentist / Cosmetic Dentist

    Property Details for 31549 Harper Ave

    Year built
    1991
    Lot size
    0.19 lot acres
    Property size
    2,390 SF
    Zone code
    B-2
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    09-14-03-454-065
    APU
    91403454065

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $400,000
      ML approach
      $400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $420,000
      6.5%
      $385,000
      7%
      $360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $256,000
      Market price range: $182k - $440k
      AI Estimate
      $256,000
      Market price range: $182k - $440k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $295,000
      Current use
      COMMERCIAL (GENERAL)
      $245,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Clair Shores
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8932
    Latitude
    42.5278
    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
    $6,931
    $0.00
    $0.00
    $117,200
    -
    $0.00
    $0.00
    $234,400

    Comparable in this City

    • Value Estimation by Request
      5,856 SF

      29820 Harper Ave

      DENTAL BUILDING • 5,856 SF
      29820 Harper Ave, Saint Clair Shores, MI 48082-2644
      View Details
    • Value Estimation by Request
      4,036 SF

      29810 Harper Ave

      DENTAL BUILDING • 4,036 SF
      29810 Harper Ave, Saint Clair Shores, MI 48082-2608
      View Details
    • Value Estimation by Request
      2,683 SF

      31850 Harper Ave

      DENTAL BUILDING • 2,683 SF
      31850 Harper Ave, Saint Clair Shores, MI 48082-1459
      View Details
    • Value Estimation by Request
      8,480 SF

      21099 Masonic Blvd

      MEDICAL BUILDING • 8,480 SF
      21099 Masonic Blvd, Saint Clair Shores, MI 48082-1045
      View Details
    • Value Estimation by Request
      3,250 SF

      30207 Harper Ave

      DENTAL BUILDING • 3,250 SF
      30207 Harper Ave, Saint Clair Shores, MI 48082-2612
      View Details
    • Value Estimation by Request
      2,010 SF

      30045 Harper Ave

      MEDICAL BUILDING • 2,010 SF
      30045 Harper Ave, Saint Clair Shores, MI 48082-1649
      View Details

    Similar Nearby for Sale

    • $1,500,000
      8.70 Acres

      I-94 Industrial Land, St. Clair Shores

      8.7 Acres, Light Industrial Zoning, High Visibility
      14 Mile Rd, St. Clair Shores, MI 48082
      View Details
    • $149,000
      0.10 Acres

      Commercial Land in St. Clair Shores

      Vacant commercial land available in St. Clair Shores, Michigan.
      Vacant Land Masonic Blvd, St Clair Shores, MI 48082
      View Details
    • $59,900
      0.11 Acres

      Residential Vacant Lot Opportunity

      Vacant lot in a desirable Saint Clair Shores neighborhood.
      Port St, Saint Clair Shores, MI 48082
      View Details
    • $1,500,000

      Industrial Land I-94 Frontage

      8.71 acres of light industrial land with high visibility.
      14 Mile Rd, Saint Clair Shores, MI 48082
      View Details

    Similar Nearby for Lease

    • $250 SF/Yr

      Remodeled Furnished Beauty Salon Suites

      Newly remodeled, fully furnished beauty salon with 12 suites.
      30245 Harper Ave, St Clair Shores, MI 48082
      View Details
    • Contact for pricing

      Office Space For Rent

      Office space available for rent at 29820 Harper Avenue.
      29820 Harper Ave, St Clair Shores, MI 48082
      View Details
    • $13 SF/Yr
      3,600 SF

      Retail/Office Space on Harper Avenue

      Retail/office space with high visibility and ample parking.
      29629-29635 Harper Ave, Saint Clair Shores, MI 48082
      View Details
    • Contact for pricing
      5,820 SF

      Office Space Available For Lease

      2,200 SF raw office space available for lease.
      St Clair Shores, MI 48082
      View Details
    • $13 SF/Yr
      180,225 SF

      Shores Shopping Center: Retail Space

      High-visibility retail center; spaces available.
      31001-31145 Harper Ave, St. Clair Shores, MI 48082
      View Details
    • $13 SF/Yr

      Commercial Land with Drive-Thru

      Commercial land for rent with drive-thru and great visibility.
      31063 Harper Ave, Saint Clair Shores, MI 48082
      View Details
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    31549 Harper Ave
    Saint Clair Shores, MI 48082-2455
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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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