Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4624 Greenfield Rd Dearborn, MI 48126-2844

    • Turn key restaurants
    • 14,400 SF
    • 1.28 lot acres
    OFF-MARKET
    Value Estimations
    $2,340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0574960
    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

    • Midnight Hookah Lounge / Bar & Pub / (Bike/Boat/Book/etc) Store

    Property Details for 4624 Greenfield Rd

    Year built
    1996
    Lot size
    1.28 lot acres
    Property size
    14,400 SF
    Zone code
    BB
    Property type
    Turn key restaurants
    APN
    82 10 183 09 048
    APU
    821018309048

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,342,000
      Market price range: $1.23M - $2.74M
      AI Estimate
      $2,342,000
      Market price range: $1.23M - $2.74M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,060,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $3,290,000
      Change: +60% Conversion: Difficult
      OFFICE BUILDING
      $1,850,000
      Change: -10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1945
    Latitude
    42.3187
    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
    $51,261
    $0.00
    $0.00
    $873,100
    -
    $0.00
    $0.00
    $1,746,200

    Comparable in this City

    • Value Estimation
      $1,825,000
      9,590 SF

      16151 Frd Rd

      RESTAURANT • 9,590 SF
      16151 Frd Rd, Dearborn, MI 48126-4131
      View Details
    • Value Estimation
      $1,005,000
      7,932 SF

      13944 Michigan Ave

      RESTAURANT • 7,932 SF
      13944 Michigan Ave, Dearborn, MI 48126-3523
      View Details
    • Value Estimation by Request
      3,024 SF

      13214 Michigan Ave

      RESTAURANT • 3,024 SF
      13214 Michigan Ave, Dearborn, MI 48126-3539
      View Details
    • Value Estimation by Request
      3,554 SF

      5082 Chase Rd

      RESTAURANT • 3,554 SF
      5082 Chase Rd, Dearborn, MI 48126-3124
      View Details
    • Value Estimation
      $1,565,000
      8,995 SF

      14526 Warren Ave

      RESTAURANT • 8,995 SF
      14526 Warren Ave, Dearborn, MI 48126-1344
      View Details
    • Value Estimation
      $1,555,000
      8,157 SF

      14300 Warren Ave

      RESTAURANT • 8,157 SF
      14300 Warren Ave, Dearborn, MI 48126-1459
      View Details

    Similar Nearby for Sale

    • $795,000

      Established Bakery in Dearborn

      Turn-key bakery with real estate, business, and equipment included.
      6412 Schaefer Rd, Dearborn, MI 48126
      View Details
    • $149,999

      Established Dearborn Restaurant For Sale

      Landmark restaurant with loyal customer base and prime location.
      13342 Michigan Ave, Dearborn, MI 48126
      View Details
    • $599,000

      Dearborn Property with Ample Parking

      Updated property with frontage and secured, gated parking lot.
      5824 Chase Rd, Dearborn, MI 48126
      View Details
    • $1,800,000
      4,800 SF

      Established Auto Repair Business Opportunity

      Thriving auto repair business and real estate for sale in Dearborn.
      14433 W Warren Ave, Dearborn, MI 48126
      View Details
    • New
      $275,000
      4,595 SF

      Dearborn Collision Shop with Equipment

      Turn-key collision shop with paint booth in prime location.
      5410 Oakman Blvd, Dearborn, MI 48126
      View Details
    • $49,999

      Dearborn Retail Business Opportunity

      Established business with inventory in a developing Dearborn location.
      15322 W Warren Ave, Dearborn, MI 48126
      View Details

    Similar Nearby for Lease

    • $4,400 /Mo
      3,200 SF

      Ford Road Commercial Opportunity

      High-visibility 3,200 sq ft property suitable for various businesses.
      14455 Frd Rd Rd, Dearborn, MI 48126
      View Details
    • $2,899 /Mo

      East Dearborn Commercial Space Available

      Versatile 2,500 sq ft space in high-traffic East Dearborn.
      5479 Schaefer Rd, Dearborn, MI 48126
      View Details
    • $2,899 /Mo

      East Dearborn Commercial Space Available

      2,500 sq ft space in high-traffic East Dearborn location.
      5461 Schaefer Rd, Dearborn, MI 48126
      View Details
    • $2,000 /Mo
      1,722 SF

      Dearborn Commercial Space for Rent

      Versatile 1,722 sq ft commercial space in prime Dearborn location.
      14805 W Warren Ave, Dearborn, MI 48126
      View Details
    • $5,000 /Mo

      Retail Space with Bonus Area

      3,000 SF retail space with additional 3,000 SF bonus space.
      5070 Schaefer Rd, Dearborn, MI 48126
      View Details
    • Contact for pricing
      10,327 SF

      Fairlane Meadows Retail Center

      High-traffic retail space available in Dearborn.
      16001-16351 Ford Rd, Dearborn, MI 48126
      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.
    4624 Greenfield Rd
    Dearborn, MI 48126-2844
    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

    Google sign-in failed. Please try again or use another login method.