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

    48649 Schooner St Van Buren Township, MI 48111-5370

    • Distribution centers
    • 524,579 SF
    • 42.18 lot acres
    OFF-MARKET
    Last Sale
    Feb 08, 2025
    Value Estimations
    $28,435,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0892004
    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

    • Distribution centers

    Property Details for 48649 Schooner St

    Year built
    1999
    Lot size
    42.18 lot acres
    Property size
    524,579 SF
    Zone code
    M2 GEN
    Property type
    Distribution centers
    APN
    83 017 99 0014 702
    APU
    83017990014702

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $28,435,000
      Market price range: $9.64M - $34.5M
      AI Estimate
      $28,435,000
      Market price range: $9.64M - $34.5M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $21,410,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $41,740,000
      Change: +95% Conversion: Moderate
      RETAIL STORES
      $39,945,000
      Change: +87% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Van Buren Township
    County
    Wayne
    State
    Michigan
    Longitude
    -83.5176
    Latitude
    42.2573
    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
    $556,153
    $0.00
    $0.00
    $10,319,100
    -
    $0.00
    $0.00
    $20,638,200

    Comparable in this City

    • Value Estimation
      $8,235,000
      229,604 SF

      6201 Haggerty Rd

      DISTRIBUTION WAREHOUSE • 229,604 SF
      6201 Haggerty Rd, Van Buren Township, MI 48111-1137
      View Details
    • Value Estimation by Request
      100,000 SF

      Ecorse Rd

      Distribution properties • 100,000 SF
      0 Ecorse Rd, Belleville, MI 48111
      View Details
    • Value Estimation by Request
      1,000,000 SF

      Ecorse Rd

      Distribution properties • 1,000,000 SF
      0 Ecorse Rd, Belleville, MI 48111
      View Details
    • Value Estimation
      $29,085,000
      685,506 SF

      6703 Haggerty Rd

      DISTRIBUTION WAREHOUSE • 685,506 SF
      6703 Haggerty Rd, Van Buren Township, MI 48111-5273
      View Details
    • Value Estimation
      $725,000
      11,000 SF

      8251 Rawsonville Rd

      DISTRIBUTION WAREHOUSE • 11,000 SF
      8251 Rawsonville Rd, Belleville, MI 48111-9317
      View Details
    • Value Estimation by Request
      6.03 Acres

      6630 Rawsonville Rd

      Automotive properties • 6.03 Acres
      6630 Rawsonville Rd, Belleville, MI 48111
      View Details

    Similar Nearby for Sale

    • $2,950,000
      43,176 SF

      Belleville Industrial Property - 43,176 SF

      Executive Office & Warehouse, Excellent Location
      8393 Rawsonville Rd, Belleville, MI 48111
      View Details
    • Contact for pricing
      100,000 SF

      Willow Run Warehouse Opportunity

      Massive Build-to-Suit Warehouse in Belleville, MI
      0 Ecorse Rd, Belleville, MI 48111
      View Details
    • $749,000
      7,761 SF

      209 Main St, Belleville, MI 48111

      Industrial properties • 7,761 SF
      209 Main St, Belleville, MI 48111
      View Details
    • $650,000
      15,940 SF

      Belleville Industrial Property - Turnkey Rink!

      Profitable skating rink, plus homes & ice cream shop.
      19750 Sumpter Rd, Belleville, MI 48111
      View Details
    • $1,100,000
      39.00 Acres

      Belleville Commercial Land - 39 Acres

      Prime C1-zoned acreage near I-94. Ideal for diverse development.
      46319 Ecorse Rd, Belleville, MI 48111
      View Details
    • Contact for pricing
      99,261 SF

      Industrial Property on Haggerty Road

      Industrial property with repair garage and expansion potential for sale.
      8353 Haggerty Rd, Van Buren Twp, MI 48111
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000,000 SF

      Willow Run Warehouse Space Available

      Massive Warehouse Space in Belleville, MI
      0 Ecorse Rd, Belleville, MI 48111
      View Details
    • Contact for pricing
      628,000 SF

      Crossroads Distribution Center - North

      265-acre industrial park in Van Buren Township, Michigan.
      42060 Ecorse Rd, Belleville, MI 48111
      View Details
    • Contact for pricing
      628,000 SF

      Crossroads Distribution Center - North

      265-acre industrial park in Van Buren Township, Michigan.
      42040 Ecorse Rd, Belleville, MI 48111
      View Details
    • $9 SF/Yr
      59,329 SF

      Industrial Space Available For Lease

      Industrial property available for lease with 59,329 square feet.
      42000 Ecorse Rd, Belleville, MI 48111
      View Details
    • $6,900 /Mo
      16,800 SF

      Belleville Industrial Space For Lease

      16,800 SF industrial space with M-2 zoning in Belleville.
      12950 Haggerty Rd, Belleville, MI 48111
      View Details
    • $10 SF/Yr
      23,850 SF

      Belleville Road Retail Spaces

      High-traffic retail spaces available.
      10840 Belleville Rd, Van Buren Charter Township, MI 48111
      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.
    48649 Schooner St
    Van Buren Township, MI 48111-5370
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.