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    Property profile & analytics

    3485 Airport Rd Waterford, MI 48329-3017

    • Medical Office Space
    • 3,273 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2021
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0182688
    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

    • Medical Office Space

    Property Details for 3485 Airport Rd

    Year built
    2002
    Lot size
    0.48 lot acres
    Property size
    3,273 SF
    Zone code
    BI
    Property type
    Medical Office Space
    Property subtype
    Medical space
    APN
    W -13-08-226-034
    APU
    W1308226034

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $689,000
      Market price range: $325k - $747k
      AI Estimate
      $436,000
      Market price range: $133k - $526k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $515,000
      Current use
      COMMERCIAL (GENERAL)
      $575,000
      Change: +11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4095
    Latitude
    42.6886
    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
    $12,983
    $0.00
    $0.00
    $262,020
    -
    $0.00
    $0.00
    $524,040

    Comparable in this City

    • Value Estimation by Request
      2,264 SF

      4426 Walton Blvd

      MEDICAL BUILDING • 2,264 SF
      4426 Walton Blvd, Waterford, MI 48329-4073
      View Details
    • Value Estimation
      $545,000
      3,948 SF

      4450 Walton Blvd

      MEDICAL BUILDING • 3,948 SF
      4450 Walton Blvd, Waterford, MI 48329-4093
      View Details
    • Value Estimation
      $695,000
      8,645 SF

      4664 Walton Blvd

      DENTAL BUILDING • 8,645 SF
      4664 Walton Blvd, Waterford, MI 48329-3537
      View Details
    • Value Estimation by Request
      2,667 SF

      4030 Walton Blvd

      MEDICAL BUILDING • 2,667 SF
      4030 Walton Blvd, Waterford, MI 48329-4174
      View Details
    • Value Estimation by Request
      1,220 SF

      5696 Dixie Hwy

      MEDICAL BUILDING • 1,220 SF
      5696 Dixie Hwy, Waterford, MI 48329-1618
      View Details
    • Value Estimation
      $505,000
      4,509 SF

      4764 Dixie Hwy

      MEDICAL BUILDING • 4,509 SF
      4764 Dixie Hwy, Waterford, MI 48329-3525
      View Details

    Similar Nearby for Sale

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      Waterford Commercial Building on Dixie Highway

      2,500 SF commercial building on high-traffic Dixie Highway.
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    • $900,000

      Office Building Near Major Thoroughfares

      Office building with frontage, parking, and flexible floor plan.
      4141 W Walton Blvd, Waterford, MI 48329
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    • $600,000
      5.00 Acres

      Clintonville & Mann Road Commercial Land

      5± Acres, Prime Corner Location, $600,000
      0 Nec Of Clintonville & Mann Rds, Waterford Township, MI 48329
      View Details
    • Contact for pricing
      2.00 Acres

      Waterford Township Commercial Land

      2-3 acre C-2 zoned land; prime retail/mixed-use.
      4315 Dixie Hwy, Waterford Township, MI 48329
      View Details
    • $349,900
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      Waterfront Land in Snug Harbor

      Lakefront building site on all-sports Loon Lake with 150ft frontage.
      Vac Newport Way Dr, Waterford, MI 48329
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    • $1,350,000
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      High-traffic retail center, former bowling alley.
      4443 Dixie Hwy, Waterford Township, MI 48329
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    Similar Nearby for Lease

    • Contact for pricing

      Waterford Flex Space Sublease

      5,400 SF flex space sublease near US-24.
      Waterford, MI 48329
      View Details
    • $11 SF/Yr
      5,400 SF

      Waterford Flex Space Sublease

      5,400 SF flex space sublease near US-24.
      5499 Perry Dr, Waterford, MI 48329
      View Details
    • $1,250 /Mo
      Pending

      Tastefully Finished Office Space Available

      Move-in ready office space with additional finished lower level.
      4564 W Walton Blvd, Waterford, MI 48329
      View Details
    • New
      $2,000 /Mo
      1,750 SF

      Waterford, MI Office/Retail Space

      1,750 SF office/retail space for lease in Waterford, MI.
      3526 Sashabaw Rd, Waterford, MI 48329
      View Details
    • $12 SF/Yr
      7,000 SF

      Dixie Hwy Executive Office Space

      7,000 SF Office/Retail, High Visibility
      5806 Dixie Hwy, Waterford Township, MI 48329
      View Details
    • $100 SF/Yr

      Waterford Township Specialty Property

      Specialty property available for rent in Waterford Township, Michigan.
      4667 Dixie Hwy Hwy, Waterford, MI 48329
      View Details
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    3485 Airport Rd
    Waterford, MI 48329-3017
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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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