Add Listing
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

    500 Warren Ave Detroit, MI 48201-1408

    • Retail space
    • 38,778 SF
    • 3.79 lot acres
    OFF-MARKET
    Value Estimations
    $4,535,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1809031
    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

    • Metro by T-Mobile / Mobile Phone Store / Electronics & Wireless Store
    • Subway / Take-out & Catering
    • Food Pride Market / Specialty Food Shop / Supermarket

    Property Details for 500 Warren Ave

    Year built
    1988
    Lot size
    3.79 lot acres
    Property size
    38,778 SF
    Zone code
    PD
    Property type
    Retail space
    APN
    03001356-60
    APU
    300135660

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,397,000
      Market price range: $1.15M - $4.40M
      AI Estimate
      $4,672,000
      Market price range: $1.19M - $4.67M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,540,000
      RESTAURANT
      $3,540,000
      NEIGHBORHOOD: SHOPPING CENTER
      $2,940,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0578
    Latitude
    42.3589
    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
    2020
    $41,425
    $0.00
    $0.00
    $5,257,400
    -
    $0.00
    $0.00
    $10,514,800

    Comparable in this City

    • Value Estimation
      $895,000
      7,650 SF

      3611 Cass Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,650 SF
      3611 Cass Ave, Detroit, MI 48201-2309
      View Details
    • Value Estimation
      $1,025,000
      8,757 SF

      4130 Cass Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,757 SF
      4130 Cass Ave, Detroit, MI 48201-1820
      View Details
    • Value Estimation
      $760,000
      6,480 SF

      2930 Cass Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,480 SF
      2930 Cass Ave, Detroit, MI 48201-2636
      View Details
    • Value Estimation
      $690,000
      5,919 SF

      3147 Woodward Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,919 SF
      3147 Woodward Ave, Detroit, MI 48201-2723
      View Details
    • Value Estimation by Request
      2,280 SF

      3711 2nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,280 SF
      3711 2nd Ave, Detroit, MI 48201-1711
      View Details
    • Value Estimation by Request
      1,929 SF

      2982 Grand Riv Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,929 SF
      2982 Grand Riv Ave, Detroit, MI 48201-2917
      View Details

    Similar Nearby for Sale

    • $500,000

      Midtown Retail Building For Sale

      3,139 SF retail building in a walkable Midtown location.
      3711 2Nd Ave, Detroit, MI 48201
      View Details
    • $1,100,000

      Detroit Mixed-Use Redevelopment Opportunity

      Flexible mixed-use property in rapidly evolving Midtown Detroit.
      666 Peterboro St, Detroit, MI 48201
      View Details
    • $1,100,000
      3,435 SF

      Detroit Mixed-Use Redevelopment Opportunity

      3,435 SF property on 0.44 acres in evolving Detroit neighborhood.
      666 Peterboro St, Detroit, MI 48201
      View Details
    • $500,000

      Midtown Detroit Building For Sale

      3,139 SF building in walkable Midtown location.
      3711 2Nd Ave, Detroit, MI 48201
      View Details
    • $3,059,094

      Prime Detroit Investment Opportunity

      Eight parcels near University of Michigan's Detroit campus for sale.
      828 W Fisher Fwy, Detroit, MI 48201
      View Details
    • Contact for pricing

      Midtown Detroit In-Fill Parcel

      Development land in Midtown Detroit, near key landmarks.
      78 Peterboro St, Detroit, MI 48201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,333 SF

      Midtown Retail Space on Selden

      Retail space in Midtown's 3rd Street Corridor, available Q2 2021.
      831 Selden St, Detroit, MI 48201
      View Details
    • $2,200 /Mo
      2,000 SF

      Downtown Detroit Commercial Space

      Prime location near entertainment venues, ideal for bar or lounge.
      2619 John R St, Detroit, MI 48201
      View Details
    • $21 SF/Yr
      3,884 SF

      Bicentennial Tower Retail Spaces

      Prime Retail, DMC Hospital Entrance
      4 Alexandrine St, Detroit, MI 48201
      View Details
    • $28 SF/Yr
      155,000 SF

      Studio One Retail Space Available

      Detroit Office/Retail Space, 2,121-4,243 SF
      4501 Woodward Ave, Detroit, MI 48201
      View Details
    • $30 SF/Yr
      4,200 SF

      SOMA Detroit: Prime Retail Space

      Modern Detroit storefront, restaurant space available.
      81 Erskine St, Detroit, MI 48201
      View Details
    • $3,712 /Mo
      18,731 SF

      Midtown Detroit Retail Space Available

      Retail suite for lease in Midtown, close to universities and museums.
      4417 2Nd Ave, Detroit, MI 48201
      View Details

    Property Visit Statistics

    • Visits by month
      3.3k
    • Visitors by month
      2.0k
    • Avg Time on site
      20 min
    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.
    500 Warren Ave
    Detroit, MI 48201-1408
    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.
    Sign Up Successful!
    You now have access to more from Realmo!