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    Property profile & analytics

    32508 Michigan Ave Wayne, MI 48184-1427

    • Retail space
    • 2,501 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimation
    $235,000
    Last Sale
    Jun 01, 2023
    $185,000
    Location Intelligence
    Property ID
    US43-4150966
    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

    • Retail space

    Property Details for 32508 Michigan Ave

    Lot size
    0.12 lot acres
    Property size
    2,501 SF
    Property type
    Retail space
    APN
    55 001 02 0104 301
    APU
    55001020104301

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3598
    Latitude
    42.2842
    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
    $2,725
    $0.00
    $0.00
    $62,300
    -
    $0.00
    $0.00
    $124,600

    Comparable in this City

    • Value Estimation by Request
      2,525 SF

      34659 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,525 SF
      34659 Michigan Ave, Wayne, MI 48184-1730
      View Details
    • Value Estimation by Request
      4,000 SF

      32304 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      32304 Michigan Ave, Wayne, MI 48184-1423
      View Details
    • Value Estimation
      $180,000
      2,262 SF

      4609 Wayne Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,262 SF
      4609 Wayne Rd, Wayne, MI 48184-2310
      View Details
    • Value Estimation
      $145,000
      3,267 SF

      35634 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,267 SF
      35634 Michigan Ave, Wayne, MI 48184-1628
      View Details
    • Value Estimation by Request
      1,450 SF

      3152 Wayne Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,450 SF
      3152 Wayne Rd, Wayne, MI 48184-1221
      View Details
    • Value Estimation by Request
      1,473 SF

      2913 Wayne Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,473 SF
      2913 Wayne Rd, Wayne, MI 48184-1216
      View Details

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    Similar Nearby for Lease

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      2,413 SF

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      High-traffic retail corridor with flexible suite sizes available for rent.
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      View Details
    • $40 SF/Yr
      1,100 SF

      Retail Space Near I-275

      Retail space available near I-275 on-ramp with high traffic.
      40200 Michigan Ave, Canton, MI 48184
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    • $1,200 /Mo

      Retail Space on Michigan Avenue

      High-visibility retail space in a growing community.
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    • $18 SF/Yr
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      Romulus Retail Center Investment

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      View Details
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    32508 Michigan Ave
    Wayne, MI 48184-1427
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    Realmo Value Estimation

    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.

    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.

    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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