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Property profile & analytics
OFF-MARKET
Estimated value
$70,385,000
Showrooms
41640 Frd Rd Canton, MI 48187-3652
Entity Owned
19-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1536948
Property summary
AI-generated overview
This exceptional 10.07-acre commercial land parcel presents a unique investment opportunity in Canton, Michigan. Strategically located at 41640 Ford Road, 48187, this property boasts unparalleled visibility from I-275, a major thoroughfare with a daily traffic count of 129,897 vehicles. Its prime location is further enhanced by its adjacency to the only IKEA store in Michigan, ensuring high foot traffic and brand recognition. The site is zoned C-4 Interchange Service District, allowing for a wide range of commercial development possibilities. The property's strong trade area is underscored by the presence of numerous national retailers within a one-mile radius, including Walmart, Sam's Club, Marshalls, Five Below, Hobby Lobby, and HomeGoods, all situated on Ford Road. Adding to its practicality, the acreage includes two detention ponds. This exceptional location, combined with its size and zoning, makes this property ideal for a variety of commercial ventures. The property is situated in Wayne County and offers significant potential for investors seeking a high-traffic, high-visibility location in a thriving retail corridor. This is a rare opportunity to acquire a substantial parcel of land in a highly desirable area of Michigan.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2005
Total area
311,556 SF
Lot
23.17 ac (1,009,285 SF)
Zoning code
C-3
APN
71 044 99 0017 706
UPID
US43-1536948
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
IKEA Canton Solar PV Solar Photovoltaic Power Plant
-
IKEA Restaurant Restaurant
-
IKEA Furniture & Home Goods Home Decor Store
-
ChargePoint Charging Station Electric Vehicle Charging Station
-
Click & Collect Curbside Pick-up at IKEA Canton Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$70.39M
Blend (final)
Blend
$70.39M
Owner & transaction history
IKEA PROPERTY INC
IKEA PROPERTY INC
Zoning & alternative use
C-3 · Canton, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$79.9M
+53.4%
Apartment house (5+ units)
$71.1M
+36.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Canton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Canton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$52,105,000
Current use
RESTAURANT
$79,915,000
Change: +53% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$71,145,000
Change: +37% · Conversion: Moderate
Blend value · Realmo final
$70.39M
Range $63.35M – $77.42M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$226 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$316,912
Tax year 2023
Assessed value
$11,195,200
Assessed 2024
Previous assessed
$10,307,900
+8.6% YoY
Effective rate
2.83%
On assessed value
Total market value
$22,390,400
Applied tax rate
82,100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Stories
1
Total area
311,556 SF
Lot
23.17 ac (1,009,285 SF)
Zoning code
C-3
APN
71 044 99 0017 706
UPID
US43-1536948
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-3 · Canton, MI
Zoning C-3 · permitted uses
C-3 · Canton, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Canton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$52.1M
RESTAURANT
Est. value
$79.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$71.1M
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
FORCED AIR
Stories
1
Lot
23.17 ac
Current owner
From public records · entity-resolved
IKEA PROPERTY INC
Entity
Free & Clear · 0 yrs held
Mailing address
420 ALAN WOOD RD, CONSHOHOCKEN, PA 19428-1141
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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