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

    5536 Michigan Ave Detroit, MI 48210

    • Retail space
    • 6,806 SF
    • 0.25 lot acres
    For Sale
    View listing
    $550,000
    Last Sale
    Jul 10, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-3778979
    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

    • Lozano's / Auto Repair Shop

    Property Details for 5536 Michigan Ave

    Year built
    1920
    Lot size
    0.25 lot acres
    Property size
    6,806 SF
    Zone code
    B4
    Property type
    Retail space
    APN
    16001721-4
    APU
    160017214

    Description

    This exceptional mixed-use property, located at 5536 Michigan Ave in Detroit, Michigan, presents a compelling investment opportunity. The 8,500 square foot property sits on a 0.25-acre lot and comprises two buildings, each two stories high. Currently operating as a successful auto repair shop with a reported net monthly income of $10,000-$12,000, this business offers immediate cash flow. The existing auto shop contributes to a strong 25% capitalization rate. Beyond the established business, the property boasts significant redevelopment potential. The remaining 6,000 square feet of space within the mixed-use building offers a blank canvas for expansion or conversion to suit a variety of uses. The property is zoned Commercial, B4, and enjoys a prime location in Southwest Detroit, at a hard corner intersection near Michigan and Junction, minutes from downtown Detroit and the Ford train station. The asking price is $550,000, translating to $64.71 per square foot. This presents a rare chance to acquire a profitable business alongside a substantial redevelopment opportunity in a rapidly growing area. The property's strategic location and diverse zoning make it an ideal investment for both seasoned and emerging investors.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1117
    Latitude
    42.3315
    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
    $1,951
    $0.00
    $0.00
    $121,000
    -
    $0.00
    $0.00
    $242,000

    Comparable in this City

    • Value Estimation by Request
      2,880 SF

      4749 Livernois Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      4749 Livernois Ave, Detroit, MI 48210-2443
      View Details
    • Value Estimation by Request
      4,600 SF

      5715 Chopin St

      RETAIL STORES (PERSONAL SERVICES) • 4,600 SF
      5715 Chopin St, Detroit, MI 48210-3515
      View Details
    • Value Estimation by Request
      6,770 SF

      7601 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,770 SF
      7601 Michigan Ave, Detroit, MI 48210-2215
      View Details
    • Value Estimation by Request
      1,980 SF

      6343 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,980 SF
      6343 Michigan Ave, Detroit, MI 48210-2954
      View Details
    • Value Estimation by Request
      3,423 SF

      6710 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,423 SF
      6710 Michigan Ave, Detroit, MI 48210-2885
      View Details
    • Value Estimation by Request
      11,171 SF

      7164 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,171 SF
      7164 Michigan Ave, Detroit, MI 48210-2249
      View Details

    Similar Nearby for Sale

    • $550,000
      8,500 SF

      Detroit Mixed-Use Investment

      8,500 SF, 2 Buildings, High ROI
      5536 Michigan Ave, Detroit, MI 48210
      View Details
    • $300,000

      Storefront and Two-Family Package

      Commercial storefront and two-family home package in Detroit.
      8726 Michigan Ave, Detroit, MI 48210
      View Details
    • Contact for pricing
      4,332 SF

      Live/Work Building with Apartment

      Former bar with finished 3-bedroom apartment, live/work building.
      6185 Livernois Ave, Detroit, MI 48210
      View Details
    • $450,000

      Mixed-Use Building and Auto Shop

      Mixed-use building with auto repair shop in Southwest Detroit.
      5536 Michigan Ave, Detroit, MI 48210
      View Details
    • $250,000
      1,365 SF

      Former Restaurant with Drive-Thru

      Freestanding restaurant with drive-thru on a highly visible corner.
      6301 W Warren Ave, Detroit, MI 48210
      View Details
    • $600,000
      3,247 SF

      Detroit Bar, Nightclub, and Restaurant

      Two-story bar, nightclub, and restaurant in Southwest Detroit for sale.
      6538 Michigan Ave, Detroit, MI 48210
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      11,832 SF

      Livernois Ave Commercial Space

      Detroit Office/Retail Suites Available
      4805 Livernois St, Detroit, MI 48210
      View Details
    • Contact for pricing

      Detroit Commercial Property For Rent

      Commercial property available for rent in Detroit, Michigan.
      4175 Central St, Detroit, MI 48210
      View Details
    • Contact for pricing

      Detroit Parking Opportunity For Rent

      Fenced parking lot with security system and electronic gate.
      2890 Junction St, Detroit, MI 48210
      View Details
    • Contact for pricing

      Detroit Automotive and Retail Opportunity

      Automotive, retail, and parking spaces available for lease in Detroit.
      2890 Michigan Ave, Detroit, MI 48210
      View Details
    • Contact for pricing
      75,105 SF

      Detroit Industrial Property - 75,000 SF

      Spacious Detroit warehouse, ideal for manufacturing.
      2801 Clark Ave, Detroit, MI 48210
      View Details
    • Contact for pricing
      75,105 SF

      Industrial Building with Expansion Potential

      75,105 SF industrial building on 10.52 acres for lease.
      2801 Clark St, Detroit, MI 48210
      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.
    5536 Michigan Ave
    Detroit, MI 48210
    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.