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

    3614 Rochester Rd, Unit 3674 Troy, MI 48083-5213

    • Commercial real estate
    • 35,125 SF
    • 3.69 lot acres
    OFF-MARKET
    Value Estimations
    $6,890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0611038
    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

    • Ambassador Cigars & Spirits / Bar & Pub

    Property Details for 3614 Rochester Rd

    Year built
    1980
    Lot size
    3.69 lot acres
    Property size
    35,125 SF
    Zone code
    B-3
    Property type
    Commercial real estate
    APN
    88-20-23-156-003
    APU
    882023156003

    Description

    Century Plaza offers exceptional retail, office, and restaurant opportunities in a prime Rochester Road location. This Class A, 34,870 square foot shopping center underwent a complete renovation in 2023, boasting multiple points of ingress and egress for optimal customer convenience. Four spaces are currently available, ranging from 1,200 to 5,740 contiguous square feet, with a total of 9,460 square feet of vacant space. The center benefits from high visibility and traffic, with over 50,000 cars passing daily. A multi-panel monument sign on Rochester Road provides excellent branding opportunities. Ample parking is available with 155 spaces. The strong demographics of the area, featuring 88,119 people within a 3-mile radius and an average household income of $120,411, make this an ideal location for businesses seeking high-traffic exposure and a lucrative customer base. Rochester Road's recent widening and improvement projects further enhance accessibility and visibility. A former restaurant space is also available. This is a unique opportunity to establish a presence in a thriving, well-maintained shopping center. Minimum divisible space is 1,200 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,888,000
      Market price range: $4.81M - $8.56M
      AI Estimate
      $6,888,000
      Market price range: $4.81M - $8.56M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,300,000
      Current use
      RESTAURANT
      $6,080,000
      Change: -3% Conversion: Difficult
      RETAIL STORES
      $5,930,000
      Change: -6% Conversion: Easy
      MEDICAL BUILDING
      $5,545,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1272
    Latitude
    42.5717
    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
    $64,682
    $0.00
    $0.00
    $2,385,680
    -
    $0.00
    $0.00
    $4,771,360

    Comparable in this City

    • Value Estimation by Request

      995 Badder Dr

      COMMERCIAL (GENERAL)
      995 Badder Dr, Troy, MI 48083-2801
      View Details
    • Value Estimation by Request
      18.80 Acres

      1819 Big Beaver Rd, Unit 1925

      COMMERCIAL (GENERAL) • 18.80 Acres
      1819 Big Beaver Rd, Troy, MI 48083-2015
      View Details
    • Value Estimation by Request
      19.40 Acres

      2100 Stephenson Hwy

      COMMERCIAL (GENERAL) • 19.40 Acres
      2100 Stephenson Hwy, Troy, MI 48083-2135
      View Details
    • Value Estimation by Request
      0.27 Acres

      38815 Dequindre Rd, Unit 7

      COMMERCIAL (GENERAL) • 0.27 Acres
      38815 Dequindre Rd, Troy, MI 48083-6810
      View Details
    • Value Estimation by Request
      1,588 SF

      3385 Rochester Rd

      COMMERCIAL (GENERAL) • 1,588 SF
      3385 Rochester Rd, Troy, MI 48083-5427
      View Details
    • Value Estimation
      $850,000
      3,492 SF

      3651 Rochester Rd

      COMMERCIAL (GENERAL) • 3,492 SF
      3651 Rochester Rd, Troy, MI 48083-5214
      View Details

    Similar Nearby for Sale

    • $1,900,000
      4.59 Acres

      Troy Commercial Land - Prime Location

      4.586 acres, Regional Center zoning, $1.9M
      0 Stephenson Hwy, Troy, MI 48083
      View Details
    • $5,000,000
      9.20 Acres

      Troy Industrial Land - $5M

      9.2-acre I-B zoned land, prime location.
      945 Stephenson Hwy, Troy, MI 48083
      View Details
    • Contact for pricing
      3.41 Acres

      930 Livernois Rd

      Land • 3.41 Acres
      930 Livernois Rd, Troy, MI 48083
      View Details
    • $1,700,000
      3.40 Acres

      Big Beaver Road Commercial Land

      3.4 Acres, Troy, MI - Development Ready
      0 Big Beaver Rd, Troy, MI 48083
      View Details
    • $1,900,000
      20,000 SF

      Prime Troy Retail Center

      20,000 SF, $1.9M, 1.8 Acres
      2840 Rochester Rd, Troy, MI 48083
      View Details
    • $67,900
      2,600 SF

      Prime Troy Commercial Property

      Established Beauty Salon, High Profit Potential
      164 Maple Rd, Troy, MI 48083
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      27,040 SF

      Allen Drive Warehouse Space Available

      Two 8,000 SF Industrial Units for Lease
      1409 Allen Dr, Troy, MI 48083
      View Details
    • Contact for pricing
      16,591 SF

      Kilmer Plaza Retail Space Available

      Upscale Troy retail space, multiple units.
      435 Big Beaver Rd, Troy, MI 48083
      View Details
    • $17 SF/Yr
      121,215 SF

      Prime Troy Office Space Available

      Executive Suites, Flexible Leasing Options
      750 Stephenson Hwy, Troy, MI 48083
      View Details
    • Contact for pricing
      32,800 SF

      Prime Troy Retail Space Available

      High-traffic location, multiple tenants.
      1873 Big Beaver Rd, Troy, MI 48083
      View Details
    • $8 SF/Yr
      20,669 SF

      Oakland County Warehouse For Lease

      20,669 SF Warehouse, Ideal for Business
      312 Park St, Troy, MI 48083
      View Details
    • $9 SF/Yr
      151,462 SF

      Troy Office Building: Premier Location

      Class A Office Space, Abundant Amenities
      300 Big Beaver Rd, Troy, MI 48083
      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.
    3614 Rochester Rd, Unit 3674
    Troy, MI 48083-5213
    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.