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

    51500 Napi Dr Shelby Township, MI 48315-3145

    • Auto shops
    • 4,960 SF
    • 8.33 lot acres
    OFF-MARKET
    Value Estimations
    $680,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2225517
    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

    • LaFemina Trucking / Freight Service / Logistics Company

    Property Details for 51500 Napi Dr

    Year built
    2015
    Lot size
    8.33 lot acres
    Property size
    4,960 SF
    Zone code
    LM
    Property type
    Auto shops
    APN
    23-07-14-376-018
    APU
    230714376018

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $677,000
      Market price range: $289k - $678k
      AI Estimate
      $677,000
      Market price range: $289k - $678k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $425,000
      Current use
      COMMERCIAL (GENERAL)
      $685,000
      Change: +61% Conversion: Moderate
      OFFICE BUILDING
      $685,000
      Change: +61% Conversion: Difficult
      RETAIL STORES
      $610,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $610,000
      Change: +43% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby Township
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0063
    Latitude
    42.6725
    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
    $12,252
    $0.00
    $0.00
    $825,300
    -
    $0.00
    $0.00
    $1,650,600

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      13246 23rd Mile Rd

      AUTO REPAIR, GARAGE • 2,400 SF
      13246 23rd Mile Rd, Shelby Township, MI 48315-2712
      View Details
    • Value Estimation by Request
      1,595 SF

      49565 Hayes Rd

      AUTO REPAIR, GARAGE • 1,595 SF
      49565 Hayes Rd, Shelby Township, MI 48315-3941
      View Details
    • Value Estimation
      $3,485,000
      35,168 SF

      51237 Danview Technology Ct

      AUTO REPAIR, GARAGE • 35,168 SF
      51237 Danview Technology Ct, Shelby Township, MI 48315-2716
      View Details
    • Value Estimation by Request
      2,500 SF

      45430 Schoenherr Rd

      AUTO REPAIR, GARAGE • 2,500 SF
      45430 Schoenherr Rd, Shelby Township, MI 48315-6020
      View Details
    • Value Estimation
      $945,000
      6,922 SF

      51073 Shelby Pkwy

      AUTO REPAIR, GARAGE • 6,922 SF
      51073 Shelby Pkwy, Shelby Township, MI 48315-1786
      View Details
    • Value Estimation by Request
      3,140 SF

      45557 Hayes Rd

      AUTO REPAIR, GARAGE • 3,140 SF
      45557 Hayes Rd, Shelby Township, MI 48315-6213
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Established Market with Mediterranean Cuisine

      Thriving market with bakery, meat, and Mediterranean kitchen.
      45701 Hayes Rd, Shelby Twp, MI 48315
      View Details
    • New
      $125,000
      4,200 SF

      Established Market in Shelby, MI

      Market with bakery, meat, and Mediterranean kitchen in Shelby.
      45701 Hayes Rd, Shelby, MI 48315
      View Details
    • Contact for pricing
      30,000 SF

      30,000 SF Retail Opportunity

      Single tenant retail space available for sale.
      45290 Utica Park Blvd, Utica, MI 48315
      View Details
    • Contact for pricing
      6,932 SF

      Restaurant & Sports Bar Opportunity

      Restaurant and sports bar available for sale or lease.
      15133 Hall Rd, Shelby Township, MI 48315
      View Details
    • $209,900
      0.43 Acres

      Residential Land in Shelby Township

      Cleared land ready for building a dream home in Shelby.
      14345 24 Mile Rd, Shelby Twp, MI 48315
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail and restaurant spaces available for lease.
      45001 Schoenherr Rd, Utica, MI 48315
      View Details
    • Contact for pricing
      1,392 SF

      Retail Space in Growing Community

      Retail space available in a high-growth residential area.
      13221-13333 Hall Rd, Utica, MI 48315
      View Details
    • Contact for pricing

      Shelby Township Retail Space Available

      Retail space available in high-traffic Shelby Township shopping center.
      48865-48935 Hayes Rd, Shelby Township, MI 48315
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail and office units available for lease with on-site parking.
      45467 Market St, Shelby Twp, MI 48315
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      45101 Schoenherr Rd, Utica, MI 48315
      View Details
    • Contact for pricing

      Retail/Office Space on 23 Mile

      Retail and office spaces available on a busy corridor.
      12745 23 Mile Rd, Shelby Township, MI 48315
      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.
    51500 Napi Dr
    Shelby Township, MI 48315-3145
    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!