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    Property profile & analytics

    4424 Corunna Rd Flint, MI 48532

    • Commercial real estate
    • 12,000 SF
    • 1.82 lot acres
    For Lease
    View listing
    $9 SF/Yr
    Last Sale
    Sep 29, 2022
    $750,000
    Value Estimations
    $725,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0939621
    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

    • Verizon / Telecommunications Service / Data Center
    • Starlight coney court st. Flint / Restaurant

    Property Details for 4424 Corunna Rd

    Year built
    1973
    Lot size
    1.82 lot acres
    Property size
    12,000 SF
    Property type
    Commercial real estate
    APN
    07-16-300-032
    APU
    716300032

    Description

    This single-tenant medical office building, totaling 12,000 square feet, offers 2,150 square feet of immediately available space. Built in 1973, the one-story building sits on a 1.82-acre lot in Genesee County and is zoned MU (Mixed Use), allowing for a variety of commercial uses. The property boasts 34 parking spaces, a significant advantage in a high-traffic area. The building's prime location within a dense retail corridor ensures high visibility and accessibility. Major national retailers such as Sam's Club, Walmart, Verizon, PPG Paints, Home Depot, Aldi, Kroger, and Dollar General are in close proximity, creating a strong customer base. This strategic positioning, coupled with the versatile zoning, makes this property ideal for a range of businesses, including medical and dental practices, convenience stores, takeout restaurants, drug stores, banking services, and veterinary clinics. The asking rent is $9.00 per square foot, plus $4.00 NNN. The property's existing infrastructure and established location provide a solid foundation for immediate occupancy and future growth. This is a rare opportunity to secure a well-situated commercial space in a thriving retail environment. No elevators are present.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $760,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $678,000
      Market price range: $367k - $1.20M
      AI Estimate
      $678,000
      Market price range: $367k - $1.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Flint
    County
    Genesee
    State
    Michigan
    Longitude
    -83.7691
    Latitude
    43.003
    CBSA code
    22420
    CBSA name
    FLINT, 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
    $17,580
    $0.00
    $0.00
    $501,300
    -
    $0.00
    $0.00
    $1,002,600

    Comparable in this City

    • Value Estimation by Request

      2263 Noble Ave

      COMMERCIAL (GENERAL)
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    • Value Estimation by Request
      14.65 Acres

      1073 Elms Rd

      COMMERCIAL (GENERAL) • 14.65 Acres
      1073 Elms Rd, Flint, MI 48532-2024
      View Details
    • Value Estimation
      $8,875,000
      290,502 SF

      3500 Rue Foret

      COMMERCIAL (GENERAL) • 290,502 SF
      3500 Rue Foret, Flint, MI 48532-2833
      View Details
    • Value Estimation
      $2,150,000
      70,344 SF

      3571 Rue Foret

      COMMERCIAL (GENERAL) • 70,344 SF
      3571 Rue Foret, Flint, MI 48532-2881
      View Details
    • Value Estimation by Request
      3,050 SF

      1230 Linden Rd

      COMMERCIAL (GENERAL) • 3,050 SF
      1230 Linden Rd, Flint, MI 48532-3459
      View Details
    • Value Estimation
      $1,935,000
      21,480 SF

      1471 Linden Rd

      COMMERCIAL (GENERAL) • 21,480 SF
      1471 Linden Rd, Flint, MI 48532
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • Contact for pricing
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    • $1,200 /Mo
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      Flint Retail Spaces Available

      Retail spaces available in Flint Lincor Park Shopping Center.
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      View Details
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    4424 Corunna Rd
    Flint, MI 48532
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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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