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    Property profile & analytics

    46977 Romeo Plank Rd Macomb, MI 48044-3509

    • Drug stores
    • 11,092 SF
    • 1.70 lot acres
    OFF-MARKET
    Value Estimations
    $1,860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1543968
    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

    • Rite Aid Pharmacy / Pharmacy
    • Robert O. Guerrieri, RPH / Pharmacy
    • Rite Aid / Pharmacy
    • Rite Aid Photo / (Bike/Boat/Book/etc) Store
    • higi / Physician

    Property Details for 46977 Romeo Plank Rd

    Year built
    2000
    Lot size
    1.70 lot acres
    Property size
    11,092 SF
    Zone code
    C2
    Property type
    Drug stores
    APN
    20-08-32-226-020
    APU
    200832226020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,858,000
      Market price range: $635k - $1.86M
      AI Estimate
      $1,858,000
      Market price range: $635k - $1.86M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,155,000
      Current use
      RESTAURANT
      $1,570,000
      Change: +36% Conversion: Easy
      MEDICAL BUILDING
      $1,360,000
      Change: +18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,140,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Macomb
    County
    Macomb
    State
    Michigan
    Longitude
    -82.9371
    Latitude
    42.6422
    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
    2022
    $29,030
    $0.00
    $0.00
    $744,000
    -
    $0.00
    $0.00
    $1,488,000

    Comparable in this City

    • Value Estimation
      $2,470,000
      14,735 SF

      21790 21st Mile Rd

      DRUG STORE, PHARMACY • 14,735 SF
      21790 21st Mile Rd, Macomb, MI 48044-2974
      View Details
    • Value Estimation
      $2,320,000
      13,833 SF

      47100 Hayes Rd

      DRUG STORE, PHARMACY • 13,833 SF
      47100 Hayes Rd, Macomb, MI 48044-5023
      View Details
    • Value Estimation
      $2,340,000
      10,856 SF

      21777 21st Mile Rd

      DRUG STORE, PHARMACY • 10,856 SF
      21777 21st Mile Rd, Macomb, MI 48044-2962
      View Details
    • Value Estimation by Request
      2,325 SF

      18601 Hall Rd

      GROCERY, SUPERMARKET • 2,325 SF
      18601 Hall Rd, Macomb, MI 48044-4155
      View Details
    • Value Estimation by Request
      1,736 SF

      48990 Hayes Rd

      GROCERY, SUPERMARKET • 1,736 SF
      48990 Hayes Rd, Macomb, MI 48044-1955
      View Details
    • Value Estimation by Request
      760 SF

      21441 21st Mile Rd

      GROCERY, SUPERMARKET • 760 SF
      21441 21st Mile Rd, Macomb, MI 48044-2963
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      84 SF

      Specialty Retail Center For Sale

      Specialty retail center in prominent M-59/Hall Road retail corridor.
      18349 Hall Rd, Macomb, MI 48044
      View Details
    • $1,200,000
      5.22 Acres

      Hall Road Retail Land Opportunity

      5.22 Acres, High-Traffic Location, $1.2M
      0 Hall Rd, Clinton Township, MI 48044
      View Details
    • $365,275
      1,345 SF

      New Condominiums in Macomb Twp

      New condominiums in Macomb Twp, occupancy early 2026.
      20800 Burn Dr, Macomb Twp, MI 48044
      View Details
    • $1,950,000
      7.90 Acres

      Macomb Vacant Land For Sale

      Vacant land near hospital and retail developments in Macomb, MI.
      50675-50811 Romeo Plank Rd, Macomb, MI 48044
      View Details
    • $3,875,000
      20 SF

      15.5 Acres Zoned M-2

      15.5 acres of M-2 zoned land available for sale.
      18074 23 Mile Rd, Macomb, MI 48044
      View Details
    • Contact for pricing
      84,068 SF

      Class A Medical Office Building

      High-end medical office building with expansion potential in high-growth area.
      17900 23 Mile Rd, Macomb, MI 48044
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,333 SF

      Retail Space on Hall Road

      Retail space available in Macomb Township near major retailers.
      20801 Hall Rd, Macomb Township, MI 48044
      View Details
    • $30 SF/Yr
      17,940 SF

      Macomb County Retail Plaza Opportunity

      Modern Retail Space, Multiple Units Available
      23 Mile And Card Rds, Macomb, MI 48044
      View Details
    • Contact for pricing
      4,911 SF

      Macomb Retail & Restaurant Space

      High-traffic location, ample parking.
      21799 23 Mile Rd, Macomb, MI 48044
      View Details
    • $16 SF/Yr
      6,890 SF

      Macomb Executive Office Suites

      Modern Office Space, 1.52 Acres
      21740 21 Mile Rd, Macomb, MI 48044
      View Details
    • $18 SF/Yr
      31,800 SF

      Tilch Square Retail Space

      Macomb, MI Shopping Center Opportunity
      0 Nwc Of Hall Rd & Tilch Rd, Macomb, MI 48044
      View Details
    • $16 SF/Yr
      71,415 SF

      Macomb Retail Center - For Lease

      High-traffic retail space, flexible layouts.
      16736 21 Mile Rd, Macomb, MI 48044
      View Details
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    Macomb, MI 48044-3509
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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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