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

    32020 Riv Rd Harrison Township, MI 48045-1474

    • Outlet malls
    • 18,596 SF
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0162256
    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

    • Outlet malls

    Property Details for 32020 Riv Rd

    Year built
    1948
    Construction
    METAL FRAME
    Lot size
    0.90 lot acres
    Property size
    18,596 SF
    Zone code
    MARINA
    Property type
    Outlet malls
    APN
    17-12-15-177-001
    APU
    171215177001

    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
    Harrison Township
    County
    Macomb
    State
    Michigan
    Longitude
    -82.7902
    Latitude
    42.595
    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
    $18,280
    $0.00
    $0.00
    $373,900
    -
    $0.00
    $0.00
    $747,800

    Comparable in this City

    • Value Estimation by Request
      3,804 SF

      39763 Jefferson Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 3,804 SF
      39763 Jefferson Ave, Harrison Township, MI 48045-1853
      View Details
    • Value Estimation by Request
      3,360 SF

      36559 Jefferson Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 3,360 SF
      36559 Jefferson Ave, Harrison Township, MI 48045-2912
      View Details
    • Value Estimation by Request
      2,970 SF

      39650 Jefferson Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 2,970 SF
      39650 Jefferson Ave, Harrison Township, MI 48045-1850
      View Details
    • Value Estimation by Request
      1,724 SF

      36475 Jefferson Ave

      GROCERY, SUPERMARKET • 1,724 SF
      36475 Jefferson Ave, Harrison Township, MI 48045-2908
      View Details
    • Value Estimation by Request
      992 SF

      39555 Jefferson Ave

      AUTO REPAIR, GARAGE • 992 SF
      39555 Jefferson Ave, Harrison Township, MI 48045-1849
      View Details
    • Value Estimation by Request
      2,240 SF

      36509 Jefferson Ave

      BAR, TAVERN • 2,240 SF
      36509 Jefferson Ave, Harrison Township, MI 48045-2910
      View Details

    Similar Nearby for Sale

    • $7,950,000
      54,140 SF

      Sports and Entertainment Center For Sale

      Remodeled sports and entertainment center with full bar and kitchen.
      40501 Production Dr, Harrison Township, MI 48045
      View Details
    • $3,500,000
      31.79 Acres

      Prime Harrison Township Storefront

      Retail space & 31 acres, great location.
      41680 Conger Bay Dr, Harrison Township, MI 48045
      View Details
    • $799,000
      2,750 SF

      Harrison Twp Redevelopment Opportunity

      1.4-acre property with commercial and residential zoning.
      39554 Jefferson, Harrison Twp, MI 48045
      View Details
    • $399,000

      Land Parcel on 16 Mile

      Commercially zoned land parcel with access via shared easement.
      Jefferson Ave, Harrison Township, MI 48045
      View Details
    • $525,000

      Waterfront Double Lot with Frontage

      Waterfront double lot with 100 feet of prime frontage.
      38187 Huron Pointe Dr, Harrison Township, MI 48045
      View Details
    • $269,900
      1.24 Acres

      Waterfront Land in Harrison Township

      Prime vacant waterfront lot with Clinton River frontage.
      00 Riv N, Harrison Twp, MI 48045
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      85,146 SF

      Harrison Twp Cannabis Processing Space

      Multiple Units, 5,000-23,769 SF Available
      25325 Henry B Joy Blvd, Harrison Township, MI 48045
      View Details
    • $7 SF/Yr
      25,326 SF

      Crane Building Sublet Opportunity

      State-of-the-art crane building available for sublease at below market rates.
      42827 Irwin Dr, Harrison Township, MI 48045
      View Details
    • $5,800 /Mo

      Executive Drive Specialty Property

      Specialty property available for rent on Executive Drive.
      42470 Executive Dr, Harrison Township, MI 48045
      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.
    32020 Riv Rd
    Harrison Township, MI 48045-1474
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.