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    391 Washington St Brighton, MI 48116-1476
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    Property profile & analytics

    391 Washington St, Brighton, MI 48116-1476

    View on Map
    • Industrial properties
    • 26,235 SF
    • 1.63 lot acres
    Off-Market
    Last Sale Feb 27, 2020
    $1,200,000
    Property ID
    US43-1642140
    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.
    Value Estimations
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 391 Washington St

    Year built
    1950
    Lot size
    1.63 lot acres
    Zone code
    IA
    Property type
    Industrial properties
    APN
    18-31-100-008
    APU
    1831100008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 24, 2020 — Washington St Bldg LLC — Deed · related $900k · State Bk
    Feb 27, 2020 — Washington St Bldg LLC 391 Washington St Bldg LLC Quit Claim Deed · related —
    Aug 9, 2019 $1,200,000 391 Washington St LLC Ronald Brewer Warranty Deed $900k · State Bk
    Nov 15, 2017 — Ronald D Brewer — Deed · related $400k · Comerica Bk
    — — Ronald D Brewer — Deed Of Trust · related $500k · Comerica Bank
    — — Ronald D Brewer — Deed Of Trust · related $400k · Comerica Bk
    — — Washington St Bldg LLC — Loan Modification · related $900k · State Bk
    — — Ronald D Brewer — Deed Of Trust · related $500k · Comerica Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,115,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $959,000
      Market price range: $960k - $2.09M
      AI Estimate
      $959,000
      Market price range: $960k - $2.09M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,595,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Brighton
    County
    Livingston
    State
    Michigan
    Longitude
    -83.7835
    Latitude
    42.5269
    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
    $24,487
    $0.00
    $0.00
    $513,100
    -
    $0.00
    $0.00
    $1,026,200

    Comparable in this City

    • Value Estimation by Request
      17,500 SF

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      Distribution properties
      11801 Grand River Ave, Brighton, MI 48116
      View Details
    • Value Estimation by Request
      17,500 SF

      11801 Grand River Ave

      Distribution properties
      11801 Grand River Ave, Brighton, MI 48116
      View Details
    • Value Estimation
      $1,590,000
      26,214 SF

      1279 Rickett Rd

      INDUSTRIAL (GENERAL)
      1279 Rickett Rd, Brighton, MI 48116-1832
      View Details
    • Value Estimation by Request
      1,700 SF

      12755 Silver Lk Rd

      INDUSTRIAL (GENERAL)
      12755 Silver Lk Rd, Brighton, MI 48116-8322
      View Details
    • Value Estimation by Request
      5,546 SF

      12813 Silver Lk Rd, Unit 1

      CONDOMINIUMS (INDUSTRIAL)
      12813 Silver Lk Rd, Brighton, MI 48116-8516
      View Details
    • Value Estimation
      $3,890,000
      87,046 SF

      12534 Emerson Dr

      INDUSTRIAL (GENERAL)
      12534 Emerson Dr, Brighton, MI 48116-8437
      View Details

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    • Contact for pricing
      17,500 SF

      Industrial Building on Grand River

      Well-maintained industrial building with fenced lot and storage.
      11801 Grand River Rd, Brighton, MI 48116
      View Details
    • Contact for pricing
      17,500 SF

      Industrial Building on Grand River

      Well-maintained industrial building with fenced lot and ample parking.
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      35,636 SF

      Brighton Warehouse Space Available

      35,636 SF warehouse/industrial property in Brighton, Michigan.
      12877 Emerson Dr, Brighton, MI 48116
      View Details

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    • Contact for pricing

      Multi-Tenant Office and Industrial Building

      Office and industrial building with high-end finishes and natural light.
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      Industrial Building on Grand River

      Multi-tenant industrial property with office, warehouse, and manufacturing potential.
      11801 Grand River Ave, Brighton, MI 48116
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      I-96 Corridor Corporate Headquarters

      Modern facility with expansion potential near I-96 corridor.
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      Brighton Warehouse Space for Lease

      Warehouse space available for lease in Kensington Pines Industrial Park.
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      6,080 SF Flex Building

      Flex building with office/showroom, premier frontage, and centralized location.
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    391 Washington St
    Brighton, MI 48116-1476
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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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