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    Property profile & analytics

    4 Alexandrine St Detroit, MI 48201

    • Retail space
    • 3,884 SF
    For Lease
    View listing
    $21 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2570638
    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

    • Bicentennial Tower / Apartment Building
    • Comerica Bank / Bank / Investment Bank

    Property Details for 4 Alexandrine St

    Property size
    3,884 SF
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    Bicentennial Tower offers exceptional retail space at the entrance to the DMC Hospital complex. This high-traffic location boasts two available ground-floor units, previously occupied by Comerica Bank and Subway. Each space presents a unique opportunity, with the flexibility to lease individually or combine for a larger footprint. The smaller unit offers a minimum of 1,400 square feet, while the maximum contiguous space available totals 2,484 square feet. The total building square footage is 3,884 square feet, currently entirely vacant and ready for immediate occupancy. The building's strategic placement provides immediate access to a convenient parking structure, a significant advantage for both tenants and their customers. This makes it an ideal location for businesses seeking high visibility and convenient access for their clientele. The property's proximity to the hospital ensures a consistent flow of potential customers, creating a strong foundation for success. This is a rare opportunity to establish a thriving business in a high-demand area with excellent accessibility and visibility. The combined spaces offer a significant retail presence, while the individual units provide options for smaller businesses seeking a prime location. Don't miss this chance to secure your place in this thriving commercial hub.

    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
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0587429
    Latitude
    42.350706

    Comparable in this City

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      Midtown Retail Space on Selden

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      Freestanding Retail/Office Building in Detroit

      12,456 SF retail/office building in Central Business District.
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      Midtown Detroit Retail Space Available

      Retail suite for lease in Midtown, close to universities and museums.
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      Detroit Retail Space - Garfield St

      Prime Detroit retail & multi-family
      119 Garfield St, Detroit, MI 48201
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    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $28 SF/Yr
      155,000 SF

      Studio One Retail Space Available

      Detroit Office/Retail Space, 2,121-4,243 SF
      4501 Woodward Ave, Detroit, MI 48201
      View Details
    • $30 SF/Yr
      4,200 SF

      SOMA Detroit: Prime Retail Space

      Modern Detroit storefront, restaurant space available.
      81 Erskine St, Detroit, MI 48201
      View Details
    • Contact for pricing
      1,333 SF

      Midtown Retail Space on Selden

      Retail space in Midtown's 3rd Street Corridor, available Q2 2021.
      831 Selden St, Detroit, MI 48201
      View Details
    • Contact for pricing
      12,456 SF

      Freestanding Retail/Office Building in Detroit

      12,456 SF retail/office building in Central Business District.
      478 W Columbia St, Detroit, MI 48201
      View Details
    • $3,712 /Mo
      18,731 SF

      Midtown Detroit Retail Space Available

      Retail suite for lease in Midtown, close to universities and museums.
      4417 2Nd Ave, Detroit, MI 48201
      View Details
    • $20 SF/Yr
      11,915 SF

      Detroit Retail Space - Garfield St

      Prime Detroit retail & multi-family
      119 Garfield St, Detroit, MI 48201
      View Details
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    4 Alexandrine St
    Detroit, MI 48201
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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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