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

    3708 11th Mile Rd Berkley, MI 48072-1003

    • Warehouses
    • 5,759 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Jul 28, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1701298
    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

    • Warehouses

    Property Details for 3708 11th Mile Rd

    Year built
    1940
    Lot size
    0.18 lot acres
    Property size
    5,759 SF
    Zone code
    II
    Property type
    Warehouses
    APN
    04-25-18-376-032
    APU
    42518376032

    Description

    This exceptional Berkley, Michigan property, located at 3708, 3728 & 3750 W Eleven Mile Rd, offers a combined 18,399 square feet of versatile warehouse and retail space. Currently vacant and available for sale at $725,000 ($39.40/sq ft), this triple-building offering presents a significant opportunity for investors and businesses alike. The property boasts high visibility along the heavily trafficked Eleven Mile Road, ensuring excellent exposure for any tenant. Multiple parking lots provide ample space for customers and employees. The strategic location within a prime commercial area offers easy access to major highways, simplifying logistics and transportation. The buildings are well-suited for a variety of uses, benefiting from excellent signage opportunities and strong visibility. This NNN lease type provides a straightforward and cost-effective ownership structure. The property's size, location, and flexibility make it an ideal investment or operational base for a wide range of businesses. The Oakland County address (zip code 48072) provides access to a robust local economy and workforce. Don't miss this chance to acquire a highly visible and strategically located commercial property in a thriving Michigan market.

    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
    Berkley
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1965
    Latitude
    42.4888
    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
    $4,033
    $0.00
    $0.00
    $132,510
    -
    $0.00
    $0.00
    $265,020

    Comparable in this City

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      9,373 SF

      2380 11th Mile Rd

      WAREHOUSE, STORAGE • 9,373 SF
      2380 11th Mile Rd, Berkley, MI 48072-3003
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    • Value Estimation by Request
      8,050 SF

      3784 11th Mile Rd

      WAREHOUSE, STORAGE • 8,050 SF
      3784 11th Mile Rd, Berkley, MI 48072-1003
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    • Value Estimation by Request
      13,759 SF

      2800 11th Mile Rd

      WAREHOUSE, STORAGE • 13,759 SF
      2800 11th Mile Rd, Berkley, MI 48072-3039
      View Details
    • Value Estimation by Request
      3,780 SF

      2200 11th Mile Rd

      WAREHOUSE, STORAGE • 3,780 SF
      2200 11th Mile Rd, Berkley, MI 48072-3048
      View Details
    • Value Estimation by Request
      27,362 SF

      2850 11th Mile Rd

      WAREHOUSE, STORAGE • 27,362 SF
      2850 11th Mile Rd, Berkley, MI 48072-3039
      View Details
    • Value Estimation by Request
      20,198 SF

      1716 Coolidge Hwy

      WAREHOUSE, STORAGE • 20,198 SF
      1716 Coolidge Hwy, Berkley, MI 48072-3067
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $11 SF/Yr
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      Oak Park Executive Office Space

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      Flex Building with Office Space

      Flex building featuring office space, overhead doors, and parking.
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    • $28 SF/Yr
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      Office Space with Excellent Visibility

      Office space for rent with good parking and visibility.
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      36,000 SF

      Medical Suites and Office Space

      Medical and office spaces available near Beaumont Health Royal Oak.
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    3708 11th Mile Rd
    Berkley, MI 48072-1003
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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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