Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    450 Frst Ave Plymouth, MI 48170-1722
    Back to Search
    Property profile & analytics

    450 Frst Ave, Plymouth, MI 48170-1722

    View on Map
    • Turn key restaurants
    • 3,412 SF
    • 0.15 lot acres
    Off-Market
    Property ID
    US43-0940369
    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
    $565,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dressed Up By Bella Mia / Clothing & Fashion Store

    Property Details for 450 Frst Ave

    Year built
    1920
    Construction
    CONCRETE BLOCKS
    Lot size
    0.15 lot acres
    Zone code
    B-2
    Property type
    Turn key restaurants
    APN
    49-009-06-0310-007
    APU
    49009060310007

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 11, 2023 — Bella Mia LLC The Wilkerson Group INC Land Contract —
    Jul 30, 2012 — Wilkerson Group INC Our Michigan Holdings LLC Grant Deed —
    May 3, 2012 — Our Michigan Holdings LLC Corey,megan & Jared Quit Claim Deed · related —
    Apr 30, 2010 — Jared Corey Corey Tom S Trust Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $562,000
      Market price range: $214k - $563k
      AI Estimate
      $562,000
      Market price range: $214k - $563k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $355,000
      Current use
      COMMERCIAL (GENERAL)
      $375,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Plymouth
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4711
    Latitude
    42.3697
    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
    $14,327
    $0.00
    $0.00
    $301,700
    -
    $0.00
    $0.00
    $603,400

    Comparable in this City

    • Value Estimation by Request
      1,656 SF

      770 Penniman Ave

      RESTAURANT
      770 Penniman Ave, Plymouth, MI 48170-1620
      View Details
    • Value Estimation
      $600,000
      3,629 SF

      39405 Plymouth Rd

      RESTAURANT
      39405 Plymouth Rd, Plymouth, MI 48170-4207
      View Details
    • Value Estimation
      $1,035,000
      6,271 SF

      819 Penniman Ave

      RESTAURANT
      819 Penniman Ave, Plymouth, MI 48170-1621
      View Details
    • Value Estimation
      $900,000
      5,302 SF

      39550 Ann Arbor E Rd

      RESTAURANT
      39550 Ann Arbor E Rd, Plymouth, MI 48170-4593
      View Details
    • Value Estimation
      $1,340,000
      15,961 SF

      500 Frst Ave

      RESTAURANT
      500 Frst Ave, Plymouth, MI 48170-1752
      View Details
    • Value Estimation
      $560,000
      3,390 SF

      9468 Main St

      RESTAURANT
      9468 Main St, Plymouth, MI 48170-4144
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,000 SF

      Established Mexican Restaurant For Sale

      Well-established Mexican restaurant with loyal clientele in downtown Plymouth.
      810-824 S Main St, Plymouth, MI 48170
      View Details
    • Contact for pricing
      Pending

      Dry Cleaner Business Opportunity

      Dry cleaner business with equipment in Plymouth, Michigan.
      Dry Cleaners Full Plant At Bargain Price, Plymouth, MI 48170
      View Details
    • Contact for pricing

      Retail Space in Grocery Center

      Retail spaces for lease in a dominant grocery store center.
      15185 N Sheldon Rd, Plymouth, MI 48170
      View Details
    • Contact for pricing
      Pending

      Plymouth Commercial Property For Sale

      Commercial property in Plymouth, suitable for retail or auto-related businesses.
      936 Ann Arbor Rd, Plymouth, MI 48170
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces for lease in grocery store center.
      15185 N Sheldon Rd, Plymouth, MI 48170
      View Details
    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      48025 Five Mile Rd, Plymouth, MI 48170
      View Details
    • Contact for pricing

      Office and Retail Suites Available

      Office and retail suites available for lease.
      42171-42247 Ann Arbor Rd, Plymouth, MI 48170
      View Details
    • Contact for pricing

      High-Traffic Location Commercial Property

      Versatile commercial space suitable for various business uses.
      40020 Five Mile Rd, Plymouth, MI 48170
      View Details
    • Contact for pricing

      Retail Space on Haggerty Road

      Retail space available in a busy Northville Township shopping center.
      15416 N Haggerty Rd, Plymouth, MI 48170
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    450 Frst Ave
    Plymouth, MI 48170-1722
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    450 Frst Ave, Plymouth, MI, 48170
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!