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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    45300 Cherry Hl Rd Canton, MI 48187-5073

    • Drug stores
    • 13,002 SF
    • 1.96 lot acres
    OFF-MARKET
    Value Estimations
    $2,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0369744
    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

    • CVS Pharmacy / Pharmacy
    • Rebeka Miller / Family Practice Physician
    • Citizens ATM / Atm
    • Anna White / Nurse Practitioner
    • Rupinder Dadiala / Nurse Practitioner / Registered General Nurse

    Property Details for 45300 Cherry Hl Rd

    Year built
    2008
    Lot size
    1.96 lot acres
    Property size
    13,002 SF
    Zone code
    R-3
    Property type
    Drug stores
    APN
    71 059 99 0005 702
    APU
    71059990005702

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,006,000
      Market price range: $563k - $2.06M
      AI Estimate
      $2,006,000
      Market price range: $563k - $2.06M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,395,000
      Current use
      RESTAURANT
      $3,335,000
      Change: +139% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,970,000
      Change: +113% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,175,000
      Change: +56% Conversion: Easy
      OFFICE BUILDING
      $1,730,000
      Change: +24% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,425,000
      Change: +2% Conversion: Difficult
      MEDICAL BUILDING
      $1,265,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4867
    Latitude
    42.3079
    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
    $40,717
    $0.00
    $0.00
    $755,700
    -
    $0.00
    $0.00
    $1,511,400

    Comparable in this City

    • Value Estimation by Request
      2,520 SF

      6624 Canton Ctr Rd

      DRUG STORE, PHARMACY • 2,520 SF
      6624 Canton Ctr Rd, Canton, MI 48187-1651
      View Details
    • Value Estimation
      $2,290,000
      14,418 SF

      44300 Frd Rd

      DRUG STORE, PHARMACY • 14,418 SF
      44300 Frd Rd, Canton, MI 48187-3169
      View Details
    • Value Estimation
      $1,760,000
      11,099 SF

      2249 Canton Ctr Rd

      DRUG STORE, PHARMACY • 11,099 SF
      2249 Canton Ctr Rd, Canton, MI 48187-2954
      View Details
    • Value Estimation
      $4,260,000
      31,000 SF

      40150 Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 31,000 SF
      40150 Frd Rd, Canton, MI 48187-4427
      View Details
    • Value Estimation
      $15,655,000
      73,233 SF

      41677 Frd Rd

      SHOW ROOM, WAREHOUSE • 73,233 SF
      41677 Frd Rd, Canton, MI 48187-3653
      View Details
    • Value Estimation by Request
      105,250 SF

      1700 Haggerty Rd

      GYM, HEALTH SPA • 105,250 SF
      1700 Haggerty Rd, Canton, MI 48187-3793
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Space on Ford Road

      Retail property on a prominent commercial corridor with high traffic.
      42400 Ford Rd, Canton, MI 48187
      View Details
    • $995,000
      7,680 SF

      Canton Retail Building - $995K

      7,680 SF Retail Space, 2 Acres, Updated 2024
      45570 Maben Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      193 SF

      Retail Space in New Towne Plaza

      Retail space in Canton's regional retail corridor on Ford Road.
      44412 Ford Rd, Canton, MI 48187
      View Details
    • $40,000
      1,087 SF

      Established Cafe Business Opportunity

      Turnkey cafe business for sale with all fixtures included.
      50166-50296 Cherry Hill Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      68,619 SF

      Canton Retail Center For Sale

      Dominant neighborhood shopping center in Canton retail area.
      5804-6034 N Sheldon Rd, Canton, MI 48187
      View Details
    • $3,205,330
      6,511 SF

      Canton Carrabba's Restaurant Sale

      High-return restaurant investment, strong tenant.
      1900 Haggerty Rd, Canton, MI 48187
      View Details

    Similar Nearby for Lease

    • $32 SF/Yr
      19,460 SF

      Canton Retail Space For Lease

      Prime Canton storefront, 2,800 sq ft available.
      42400 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      2,000 SF

      Canton Retail Space: Prime Location

      2,000 SF Retail Space Available in Canton, MI
      44412-44730 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      261,360 SF

      Canton Retail Land - I-275 Frontage

      High-traffic retail land, multiple outlots available.
      0 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      3,549 SF

      Retail Space in Canton Corners

      Retail space available in busy Canton, Michigan shopping center.
      42645 Ford Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      7,250 SF

      Harvard Square Retail Spaces

      Canton, MI retail opportunity. Multiple spaces available.
      5804-6034 Sheldon Rd, Canton, MI 48187
      View Details
    • Contact for pricing
      14,400 SF

      Retail Space on Ford Road

      Prime retail location in Canton, Michigan with strong demographics.
      43711 Ford Rd, Canton, MI 48187
      View Details
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    45300 Cherry Hl Rd
    Canton, MI 48187-5073
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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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