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    48260 Frank St Wixom, MI 48393
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    Property profile & analytics

    48260 Frank St, Wixom, MI 48393

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    • Auto shops
    • 30,060 SF
    • 5.91 lot acres
    For Lease
    $2,695,000
    View Listing →
    Wixom Warehouse or Office Space For Lease
    $2,695,000
    8,000 SF

    Wixom Warehouse or Office Space

    8,000 SF warehouse or office space available for rent.

    48260 Frank St, Wixom, MI 48393
    View Listing
    Property ID
    US43-0220105
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Wixom Collision and Mechanical / Auto Repair Shop
    • Engelsen Frame & Moulding Co / Factory / Production Facility

    Property Details for 48260 Frank St

    Year built
    2000
    Lot size
    5.91 lot acres
    Zone code
    M-1
    Property type
    Auto shops
    APN
    96-22-05-476-026
    APU
    962205476026

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 1, 2023 — Jub Investments LLC Engelsen LLC Land Contract —
    Mar 6, 2001 $1,250,000 Engelsen LLC Boco Enterprises INC Grant Deed $571k · Comerica Bank
    May 22, 2000 $360,000 Boco Enterprise INC 535 Associates Grant Deed $900k · Bank One Michigan
    Dec 29, 1999 — Wixom City (mi) 535 Associates Quit Claim Deed · related —
    — — Engelsen LLC — Deed Of Trust · related $675k · Comerica Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,063,000
      Market price range: $1.69M - $6.00M
      AI Estimate
      $2,328,000
      Market price range: $1.07M - $4.58M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,685,000
      Current use
      OFFICE BUILDING
      $3,525,000
      Change: -4% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,280,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wixom
    County
    Oakland
    State
    Michigan
    Longitude
    -83.5248
    Latitude
    42.514
    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
    $27,781
    $0.00
    $0.00
    $1,231,330
    -
    $0.00
    $0.00
    $2,462,660

    Comparable in this City

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      $1,310,000
      18,640 SF

      51800 Pontiac Trl

      AUTO REPAIR, GARAGE
      51800 Pontiac Trl, Wixom, MI 48393-1932
      View Details
    • Value Estimation
      $2,160,000
      12,278 SF

      51707 12th Mile Rd

      AUTO REPAIR, GARAGE
      51707 12th Mile Rd, Wixom, MI 48393-3104
      View Details
    • Value Estimation
      $1,055,000
      6,007 SF

      29330 Wixom Rd

      AUTO REPAIR, GARAGE
      29330 Wixom Rd, Wixom, MI 48393-3424
      View Details
    • Value Estimation
      $1,040,000
      5,915 SF

      49487 Grand Riv Ave

      AUTO REPAIR, GARAGE
      49487 Grand Riv Ave, Wixom, MI 48393-3304
      View Details
    • Value Estimation
      $1,130,000
      6,421 SF

      49950 Grand Riv Ave

      AUTO REPAIR, GARAGE
      49950 Grand Riv Ave, Wixom, MI 48393-3308
      View Details
    • Value Estimation by Request
      4,250 SF

      47564 Pontiac Trl

      AUTO REPAIR, GARAGE
      47564 Pontiac Trl, Wixom, MI 48393-2579
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,600 SF

      Wixom Commercial Facility For Sale

      9,600 SF commercial facility on 12.71-acre lot in Wixom.
      29250 Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      6,926 SF

      Freestanding Building on 1.4 Acres

      6,926 SF remodeled building on 1.4 acres for sale.
      29710 Wixom Rd, Wixom, MI 48393
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    • Contact for pricing
      1,493 SF

      Versatile Commercial Property for Sale

      Commercial property with flexible zoning, ideal for various business uses.
      50274 Grand River Ave, Wixom, MI 48393
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    • Contact for pricing
      44,000 SF

      Retail Space in North Park Plaza

      Retail space available in North Park Plaza shopping center.
      2051 N Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing
      20,000 SF

      Wixom Multi-Tenant Office Asset

      20,000 SF multi-tenant office building in Wixom, Michigan.
      28004 Center Oaks Ct, Wixom, MI 48393
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail, Office, Medical Space Available

      Retail, office, or medical spaces in downtown Wixom.
      49078 Pontiac Trl, Wixom, MI 48393
      View Details
    • Contact for pricing

      Retail Space in Premier Center

      1,834 sq ft space in high-traffic Wixom location.
      28870 Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing

      Retail Space Near Pontiac Trail

      Retail space available south of Pontiac Trail, east of Wixom Road.
      31202 S Old Wixom Rd, Wixom, MI 48393
      View Details
    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail opportunity with high visibility and customer traffic.
      49900 Grand River Ave, Wixom, MI 48393
      View Details
    • Contact for pricing

      Freestanding Building in Wixom, MI

      6,926 SF building on 1.4 acres available for lease.
      29710 Wixom Rd, Wixom, MI 48393
      View Details
    View Listing
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    Wixom, MI 48393
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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.

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