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

    32117 Ft Rd Rockwood, MI 48173-1110

    • Strip malls
    • 4,222 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2203639
    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

    • Strip malls

    Property Details for 32117 Ft Rd

    Year built
    1969
    Lot size
    0.27 lot acres
    Property size
    4,222 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    52 009 01 0023 000
    APU
    52009010023000

    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
    Rockwood
    County
    Wayne
    State
    Michigan
    Longitude
    -83.245
    Latitude
    42.0732
    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
    $7,007
    $0.00
    $0.00
    $139,000
    -
    $0.00
    $0.00
    $278,000

    Comparable in this City

    • Value Estimation by Request
      53,038 SF

      32835 Ft Rd

      SHOPPING CENTER, STRIP CENTER • 53,038 SF
      32835 Ft Rd, Rockwood, MI 48173-1157
      View Details
    • Value Estimation
      $170,000
      3,750 SF

      32149 Ft Rd

      SHOPPING CENTER, STRIP CENTER • 3,750 SF
      32149 Ft Rd, Rockwood, MI 48173-1110
      View Details
    • Value Estimation by Request
      9,540 SF

      22420 Huron Riv Dr

      SHOPPING CENTER, STRIP CENTER • 9,540 SF
      22420 Huron Riv Dr, Rockwood, MI 48173-1100
      View Details
    • Value Estimation by Request
      4,046 SF

      28635 Jefferson Ave

      BAR, TAVERN • 4,046 SF
      28635 Jefferson Ave, Gibraltar, MI 48173-3300
      View Details
    • Value Estimation by Request
      4,200 SF

      32850 Cleveland St

      AUTO REPAIR, GARAGE • 4,200 SF
      32850 Cleveland St, Rockwood, MI 48173-9602
      View Details
    • Value Estimation
      $405,000
      2,848 SF

      22825 Huron Riv Dr

      RESTAURANT • 2,848 SF
      22825 Huron Riv Dr, Rockwood, MI 48173-1018
      View Details

    Similar Nearby for Sale

    • $250,000

      Save A Lot Grocery Store

      Turnkey Save A Lot grocery store with loyal customer base.
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    • $349,900
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      Turn-Key Restaurant Opportunity

      Renovated restaurant with FF&E on 3.5 acres near Lake Erie.
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      Pet Supply Store Business

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    • $183,600
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      Updated Commercial Property in Rockwood

      Updated commercial property with limitless possibilities in a prime location.
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      560,000 SF

      Gibraltar Industrial Facility with Heavy Power

      560,000 SF industrial facility with heavy power capacity.
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    • $1,500,000
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      Rockwood Industrial Land - 64 Acres

      Prime 64-acre industrial site, excellent location.
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    Similar Nearby for Lease

    • $15 SF/Yr
      11,217 SF

      Prime Retail Space Available

      High-visibility corner lot with over 11,000 SF retail space.
      32905 Fort Rd, Rockwood, MI 48173
      View Details
    • $12 SF/Yr
      12,000 SF

      Rockwood Retail Strip Center Opportunity

      High-traffic retail space available in Rockwood, MI.
      22420-22440 Huron River Dr, Rockwood, MI 48173
      View Details
    • $12 SF/Yr
      51,978 SF

      Rockwood Retail Center - For Lease

      Prime Retail Space, 7,500 SF Available
      32827 Fort Rd, Rockwood, MI 48173
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    • $1,800 /Mo
      830 SF

      Gibraltar Commercial/Industrial Space For Rent

      Commercial/Industrial space available for rent in Gibraltar, Michigan.
      29549 Jefferson, Gibraltar, MI 48173
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    • $1.00 SF/Yr

      Rockwood Warehouse: 42 Acres

      Prime industrial land, single-tenant potential.
      21702 Huron River Dr, Rockwood, MI 48173
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for rent at 28000 W Jefferson Ave.
      28000 W Jefferson Ave, Gibraltar, MI 48173
      View Details
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    32117 Ft Rd
    Rockwood, MI 48173-1110
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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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