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    48238 Frank St Wixom, MI 48393-4711
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    Property profile & analytics

    48238 Frank St Wixom, MI 48393-4711

    View on Map
    • Warehouses
    • 126,720 SF
    Off-Market
    Last Sale Nov 17, 2021
    Property ID
    US43-4766568
    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
    $14,830,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • U.S. AutoForce / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 48238 Frank St

    Year built
    2021
    Property size
    126,720 SF
    Property type
    Warehouses
    APN
    96-22-05-476-062
    APU
    962205476062

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,294,000
      Market price range: $6.07M - $16.3M
      AI Estimate
      $13,366,000
      Market price range: $3.66M - $13.4M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $9,680,000
      Current use
      COMMERCIAL (GENERAL)
      $22,320,000
      Change: +131% Conversion: Difficult
      RESTAURANT
      $21,935,000
      Change: +127% Conversion: Difficult
      RETAIL STORES
      $21,390,000
      Change: +121% Conversion: Moderate
      MEDICAL BUILDING
      $20,005,000
      Change: +107% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $15,530,000
      Change: +60% Conversion: Easy
      OFFICE BUILDING
      $14,865,000
      Change: +54% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $13,820,000
      Change: +43% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5235
    Latitude
    42.515
    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
    $385,519
    $0.00
    $0.00
    $8,468,810
    -
    $0.00
    $0.00
    $16,937,620

    Comparable in this City

    • Value Estimation
      $10,825,000
      193,500 SF

      30220 Oak Crk Dr

      WAREHOUSE, STORAGE • 193,500 SF
      30220 Oak Crk Dr, Wixom, MI 48393-2430
      View Details
    • Value Estimation
      $1,055,000
      27,529 SF

      49103 Alpha Ct

      WAREHOUSE, STORAGE • 27,529 SF
      49103 Alpha Ct, Wixom, MI 48393-3448
      View Details
    • Value Estimation
      $2,010,000
      19,383 SF

      47060 Cartier Dr

      WAREHOUSE, STORAGE • 19,383 SF
      47060 Cartier Dr, Wixom, MI 48393-2876
      View Details
    • Value Estimation
      $4,505,000
      38,500 SF

      48216 Frank St

      WAREHOUSE, STORAGE • 38,500 SF
      48216 Frank St, Wixom, MI 48393-4711
      View Details
    • Value Estimation
      $1,995,000
      25,864 SF

      29165 Wall St

      WAREHOUSE, STORAGE • 25,864 SF
      29165 Wall St, Wixom, MI 48393-3525
      View Details
    • Value Estimation
      $1,900,000
      22,036 SF

      30194 Wixom Rd

      WAREHOUSE, STORAGE • 22,036 SF
      30194 Wixom Rd, Wixom, MI 48393-3440
      View Details

    Similar Nearby for Sale

    • $4,285,714

      Industrial Property with Cranes

      33,918 SF industrial building on 12.25 acres.
      52700 Pontiac Trl, Wixom, MI 48393
      View Details
    • Contact for pricing
      13,898 SF

      Wixom Light Industrial Opportunity

      Versatile building in Wixom's industrial corridor with high ceilings.
      47840 Anna Ct, Wixom, MI 48393
      View Details
    • $1,945,000
      13,898 SF

      Wixom Light Industrial Opportunity

      Versatile building in Wixom's industrial corridor with high ceilings.
      47840 Anna Ct, Wixom, MI 48393
      View Details
    • Contact for pricing

      Wixom Flex/Warehouse Space Available

      Flex/warehouse space for sale with immediate occupancy.
      49100-49140 Wixom Tech Dr, Wixom, MI 48393
      View Details
    • $2,300,000
      8,240 SF

      Turn-Key Brewery Production Facility

      Fully equipped brewery and beverage production facility in Wixom.
      28800 Wall St, Wixom, MI 48393
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      12,061 SF

      Wixom Warehouse Space Available

      Industrial warehouse space available for lease in Wixom, Michigan.
      29706 West Tech Dr, Wixom, MI 48393
      View Details
    • Contact for pricing

      Wixom Warehouse with 32' Clearance

      81,881 SF warehouse space available for rent in Wixom, MI.
      29837 Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing

      Wixom Warehouse Space Available

      Warehouse space for rent in Wixom, Michigan.
      Interstate 96, Wixom, MI 48393
      View Details
    • Contact for pricing

      Wixom Flex Space Available

      Flex space available for lease in Wixom, Michigan.
      47151 Cartier Ct, Wixom, MI 48393
      View Details
    • $9 SF/Yr
      14,250 SF

      Wixom Warehouse Space Available

      14,250 sqft warehouse space for lease in Wixom.
      51004 Century Ct, Wixom, MI 48393
      View Details
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    Wixom, MI 48393-4711
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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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