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

    38500 9th Mile Rd Northville, MI 48167-9054

    • Specialty properties
    • 7,948 SF
    • 9.75 lot acres
    OFF-MARKET
    Last Sale
    Sep 15, 2022
    $875,000
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1609160
    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

    • Specialty properties

    Property Details for 38500 9th Mile Rd

    Year built
    1954
    Lot size
    9.75 lot acres
    Property size
    7,948 SF
    Zone code
    MM
    Property type
    Specialty properties
    APN
    22-23-30-300-019
    APU
    222330300019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $930,000
      ML approach
      $1,050,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $696,000
      Market price range: $201k - $696k
      AI Estimate
      $698,000
      Market price range: $201k - $699k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,400,000
      RESTAURANT
      $1,375,000
      RETAIL STORES
      $1,340,000
      MEDICAL BUILDING
      $1,255,000
      AUTO REPAIR, GARAGE
      $975,000
      OFFICE BUILDING
      $930,000
      NEIGHBORHOOD: SHOPPING CENTER
      $740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Northville
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4255
    Latitude
    42.4556
    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
    2021
    $19,567
    $318,530
    $299,250
    $617,780
    -
    $637,060
    $598,500
    $1,235,560

    Comparable in this City

    • Value Estimation by Request
      3,708 SF

      100 Dunlap St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 3,708 SF
      100 Dunlap St, Northville, MI 48167-1401
      View Details
    • Value Estimation by Request
      10,261 SF

      122 Dunlap St

      FUNERAL HOME • 10,261 SF
      122 Dunlap St, Northville, MI 48167-1401
      View Details
    • Value Estimation by Request
      4,558 SF

      438 Main St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 4,558 SF
      438 Main St, Northville, MI 48167-1647
      View Details
    • Value Estimation by Request
      2,949 SF

      646 Baseline Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,949 SF
      646 Baseline Rd, Northville, MI 48167
      View Details
    • Value Estimation
      $665,000
      8,493 SF

      43333 7th Mile Rd

      DAY CARE, PRE-SCHOOL • 8,493 SF
      43333 7th Mile Rd, Northville, MI 48167-3259
      View Details
    • Value Estimation by Request
      4,189 SF

      20675 Silver Spg Dr

      DAY CARE, PRE-SCHOOL • 4,189 SF
      20675 Silver Spg Dr, Northville, MI 48167-1982
      View Details

    Similar Nearby for Sale

    • $375,000
      1.09 Acres

      Land in Northville, Michigan

      Land available in Northville, Michigan.
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      View Details
    • $492,000
      0.40 Acres

      Northville Land: Prime Build Site

      Large single-family home build-site in downtown Northville.
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    • $475,000
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      8.62 Acres Vacant Land

      8.62-acre vacant land with pole barn and stocked pond.
      9540 Chubb Rd, Northville, MI 48167
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    • $260,000
      1,422 SF

      Spacious Condo in Northville

      Updated 3-bedroom condo with resort-style amenities and convenient location.
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    • $495,000
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      Large Northville Build-Site Opportunity

      Spacious lot in downtown Northville, ideal for building a home.
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    • $676,000
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      New Toll Brothers Condominium

      New condominium with open floor plan, expected completion Oct/Nov 2025.
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    Similar Nearby for Lease

    • $17 SF/Yr
      62,250 SF

      Farmington Hills Creative Office Space

      Class A Office Suites in Northville, MI
      21800 Haggerty Rd, Northville, MI 48167
      View Details
    • $18 SF/Yr
      26,000 SF

      Prime Northville Executive Office Space

      26,000 SF Office Building, Fully Leased
      41000 7 Mile Rd, Northville, MI 48167
      View Details
    • Contact for pricing

      Furnished Office Sublease Opportunity

      Move-in ready, furnished office sublease available until August 2029.
      22260 Haggerty Rd, Northville, MI 48167
      View Details
    • $5,500 /Mo
      6,232 SF

      Northville Office Space For Rent

      Former chiropractic office suitable for healthcare or professional services.
      41074 7 Mile Rd, Northville, MI 48167
      View Details
    • $6,800 /Mo
      4,000 SF

      Renovated Office Space in Northville

      4000 sq ft renovated office space in downtown Northville.
      170 E Main St, Northville, MI 48167
      View Details
    • $30 SF/Yr
      4,144 SF

      Northville Executive Office Suite

      Modern Office, Prime Location, 2,135 SF
      342 Main St, Northville, MI 48167
      View Details
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    38500 9th Mile Rd
    Northville, MI 48167-9054
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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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