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    Property profile & analytics

    41 Eldredge St Mount Clemens, MI 48043-5410

    • Flex space
    • 1,987 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2021
    $175,000
    Value Estimations
    $205,000
    Show details
    Cap Rate Potential
    5.1%
    Flex space
    Location Intelligence
    Property ID
    US43-1733713
    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

    • Flex space

    Property Details for 41 Eldredge St

    Year built
    1965
    Lot size
    0.06 lot acres
    Property size
    1,987 SF
    Zone code
    L-1
    Property type
    Flex space
    APN
    05-11-11-359-005
    APU
    51111359005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $210,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $180,000
      6.5%
      $165,000
      7%
      $155,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $132,000
      Market price range: $85.2k - $187k
      AI Estimate
      $132,000
      Market price range: $85.2k - $187k

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

    Location Insight

    • Map
    • Local Demand
    City
    Mount Clemens
    County
    Macomb
    State
    Michigan
    Longitude
    -82.8887
    Latitude
    42.5997
    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
    2022
    $3,644
    $0.00
    $0.00
    $53,200
    -
    $0.00
    $0.00
    $106,400

    Comparable in this City

    • Value Estimation by Request
      60,648 SF

      138 Groesbeck Hwy

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      3,224 SF

      189 Grand Ave

      LIGHT INDUSTRIAL • 3,224 SF
      189 Grand Ave, Mount Clemens, MI 48043-5413
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    • Value Estimation by Request
      22,207 SF

      162 Grand Ave, Unit 164

      LIGHT INDUSTRIAL • 22,207 SF
      162 Grand Ave, Mount Clemens, MI 48043-5415
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    • Value Estimation by Request
      103,545 SF

      126 Groesbeck Hwy

      LIGHT INDUSTRIAL • 103,545 SF
      126 Groesbeck Hwy, Mount Clemens, MI 48043-5428
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    • Value Estimation by Request
      11,340 SF

      195 Malow St

      LIGHT INDUSTRIAL • 11,340 SF
      195 Malow St, Mount Clemens, MI 48043-2114
      View Details
    • Value Estimation by Request
      4,000 SF

      71 Rose St

      LIGHT INDUSTRIAL • 4,000 SF
      71 Rose St, Mount Clemens, MI 48043-5401
      View Details

    Similar Nearby for Sale

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    • $1,999,000
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    • $1,999,000
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      Mount Clemens Industrial Facility

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    • $32,000
      0.22 Acres

      Residential Vacant Land in Mt. Clemens

      Residential vacant land in Breitmeyer Hills Subdivision.
      80 Moross St, Mount Clemens, MI 48043
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    • Contact for pricing
      31,906 SF

      Downtown Mt. Clemens Redevelopment Opportunity

      31,906 SF building in Mt. Clemens for sale/lease.
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    • Contact for pricing
      60,000 SF

      Downtown Mt. Clemens Redevelopment Opportunity

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    Similar Nearby for Lease

    • $1,200 /Mo
      1,200 SF

      Mount Clemens Industrial Space Available

      1,200 SF industrial space near Downtown Mount Clemens.
      125 Avery St, Mount Clemens, MI 48043
      View Details
    • $10 SF/Yr
      84,000 SF

      Mt. Clemens Commercial Space Available

      Prime Retail & Industrial Space, Multiple Tenants
      80 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
    • $6 SF/Yr
      55,000 SF

      Prime Mount Clemens Warehouse Space

      55,000 SF Warehouse - Immediate Occupancy
      237 River Rd, Mount Clemens, MI 48043
      View Details
    • $5 SF/Yr
      103,288 SF

      Mount Clemens Warehouse Space Available

      Sublease opportunity in Mount Clemens through August 1, 2030.
      151 Lafayette St, Mount Clemens, MI 48043
      View Details
    • $2,346,000
      27,600 SF

      Hi-Bay Industrial Park Building

      Well-maintained industrial building with easy access and main road exposure.
      175-185 Malow St, Mount Clemens, MI 48043
      View Details
    • $12 SF/Yr
      19,360 SF

      Mount Clemens Warehouse Space Available

      2,500 SF Industrial Warehouse for Lease
      148 Groesbeck Hwy, Mount Clemens, MI 48043
      View Details
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    41 Eldredge St
    Mount Clemens, MI 48043-5410
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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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