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    400 S Broadway St Lake Orion, MI 48362
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    Property profile & analytics

    400 S Broadway St, Lake Orion, MI 48362

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    • Retail space
    • 3,756 SF
    • 0.39 lot acres
    For Lease
    $550/Mo
    View Listing →
    Office Space in Lake Orion For Lease
    $550/Mo
    3,756 SF

    Office Space in Lake Orion

    Office space for lease in downtown Lake Orion, Michigan.

    400 S BROADWAY Street, Lake Orion, MI 48362
    View Listing
    Property ID
    US43-1579165
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Liberty Way Realty / Real Estate Agency
    • Susan Garbarino, Realtor - Liberty Way Realty / Real Estate Agency
    • SUE CAMPBELL - Realtor / Real Estate Agency
    • Michael Diluca, Spencer Real Estate / Real Estate Agency
    • Home Matters Consulting / General Contractor

    Property Details for 400 S Broadway St

    Year built
    1999
    Lot size
    0.39 lot acres
    Zone code
    BI
    Property type
    Retail space
    APN
    OL-09-11-277-050
    APU
    OL0911277050

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 5, 2017 $595,000 400 S Broadway LLC Watkins Investments LLC Warranty Deed —
    Oct 29, 2004 — Watkins Investments LLC — Trustees Deed · related $300k · Standard Federal Bank
    Oct 19, 1999 — Watkins Investments LLC — Grant Deed · related $592k · Key Bank NA
    — — Watkins Investments LLC — Deed Of Trust · related $365k · Charter One
    — — Watkins Investments LLC — Deed Of Trust · related $553k · Key Bank NA

    Description

    This exceptional 1,200 square foot office space, located in the vibrant Lake Orion area of Oakland County, is perfect for a single tenant. The property is part of a larger 4,000 square foot building and offers a blend of traditional and creative office layouts, making it suitable for a variety of businesses. The space includes two private offices, ideal for individual work or client meetings, and a large open workspace designed to encourage collaboration and teamwork. The layout is flexible and adaptable to suit different business needs. The property boasts excellent visibility from a busy main road, ensuring high traffic and brand awareness. Furthermore, tenants will benefit from access to a shared conference room, providing a professional setting for meetings and presentations without the expense of dedicated space. This is a single-tenant occupancy opportunity in a thriving location. The property type is classified as Traditional Office, Creative Office, and Coworking, reflecting its versatility and suitability for diverse business models. This is an excellent opportunity to establish a strong presence in a desirable location. The space is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $762,000
      Market price range: $295k - $987k
      AI Estimate
      $619,000
      Market price range: $234k - $815k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $635,000
      Current use
      COMMERCIAL (GENERAL)
      $660,000
      Change: +4% Conversion: Easy
      MEDICAL BUILDING
      $595,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Orion
    County
    Oakland
    State
    Michigan
    Longitude
    -83.2398
    Latitude
    42.7782
    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
    $10,025
    $0.00
    $0.00
    $256,080
    -
    $0.00
    $0.00
    $512,160

    Comparable in this City

    • Value Estimation
      $3,510,000
      15,048 SF

      450 Park Blvd

      RETAIL STORES (PERSONAL SERVICES)
      450 Park Blvd, Lake Orion, MI 48362-3152
      View Details
    • Value Estimation
      $565,000
      3,119 SF

      20 Frnt St

      RETAIL STORES (PERSONAL SERVICES)
      20 Frnt St, Lake Orion, MI 48362-3236
      View Details
    • Value Estimation by Request
      1,344 SF

      25 Park Blvd

      RETAIL STORES (PERSONAL SERVICES)
      25 Park Blvd, Lake Orion, MI 48362-3143
      View Details
    • Value Estimation by Request
      780 SF

      21 Broadway St

      RETAIL STORES (PERSONAL SERVICES)
      21 Broadway St, Lake Orion, MI 48362-3109
      View Details
    • Value Estimation by Request
      3,910 SF

      12 Broadway St

      RETAIL STORES (PERSONAL SERVICES)
      12 Broadway St, Lake Orion, MI 48362-3108
      View Details
    • Value Estimation by Request
      1,476 SF

      508 Broadway St

      RETAIL STORES (PERSONAL SERVICES)
      508 Broadway St, Lake Orion, MI 48362-2745
      View Details

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    Similar Nearby for Lease

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      Lake Orion Retail Space Available

      7,140 SF retail space with high visibility in Lake Orion.
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      Retail space for rent with recent upgrades and high visibility.
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      Retail Space for Lease

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      Office Space with Executive Furniture

      2,700 SF office space with private offices and furniture.
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    • $550 /Mo
      3,756 SF

      Office Space in Lake Orion

      Office space for lease in downtown Lake Orion, Michigan.
      400 S Broadway St, Lake Orion, MI 48362
      View Details
    View Listing
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    Lake Orion, MI 48362
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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.

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