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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6217 Lonyo St Detroit, MI 48210-1812

    • Industrial land
    • 2,077 SF
    • 1.22 lot acres
    OFF-MARKET
    Last Sale
    Jan 13, 2022
    $165,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4889032
    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

    • Industrial land

    Property Details for 6217 Lonyo St

    Year built
    1942
    Lot size
    1.22 lot acres
    Property size
    2,077 SF
    Zone code
    M4
    Property type
    Industrial land
    APN
    20009356.
    APU
    20009356

    Description

    This exceptional 1.22-acre parcel of land, located at 6217 Lonyo Street in Detroit, Michigan (Wayne County, zip code 48210), presents a compelling investment opportunity. Zoned for heavy industrial use, this property offers significant potential for a diverse range of businesses. The asking price is $479,000, translating to approximately $392,622.95 per acre. The property's APN is W20I009356S. Its location provides convenient access to major transportation routes, making it ideal for businesses requiring efficient logistics. Potential uses could include, but are not limited to, trucking operations, parking facilities, scrap yards, or automotive dealerships. Prospective buyers are strongly encouraged to independently verify all information and explore potential uses with the City of Detroit to ensure compliance with all applicable regulations and zoning ordinances. A land contract may be a possibility. This property represents a rare chance to acquire a sizable, strategically located industrial lot in a growing area. The latitude and longitude coordinates are 42.338152 and -83.151601 respectively.

    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
    -83.1516
    Latitude
    42.3382
    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
    $9,662
    $0.00
    $0.00
    $66,400
    -
    $0.00
    $0.00
    $132,800

    Comparable in this City

    • Value Estimation by Request
      0.33 Acres

      3557 Military St

      INDUSTRIAL - VACANT LAND • 0.33 Acres
      3557 Military St, Detroit, MI 48210-2981
      View Details
    • Value Estimation by Request
      0.09 Acres

      3274 Hubbard St

      INDUSTRIAL - VACANT LAND • 0.09 Acres
      3274 Hubbard St, Detroit, MI 48210-3238
      View Details
    • Value Estimation by Request
      1.69 Acres

      7330 Clayton St

      INDUSTRIAL - VACANT LAND • 1.69 Acres
      7330 Clayton St, Detroit, MI 48210-2752
      View Details
    • Value Estimation by Request
      0.07 Acres

      7430 Bryden St

      INDUSTRIAL - VACANT LAND • 0.07 Acres
      7430 Bryden St, Detroit, MI 48210-1031
      View Details
    • Value Estimation by Request
      0.07 Acres

      7406 Bryden St

      INDUSTRIAL - VACANT LAND • 0.07 Acres
      7406 Bryden St, Detroit, MI 48210-1031
      View Details
    • Value Estimation by Request
      0.09 Acres

      3286 Hubbard St

      INDUSTRIAL - VACANT LAND • 402 SF
      3286 Hubbard St, Detroit, MI 48210-3238
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Industrial Land Near Joe Louis Greenway

      0.21 acre industrial land with excellent exposure.
      7326 Mcdonald St, Detroit, MI 48210
      View Details
    • Contact for pricing
      0.05 Acres

      Detroit Land Bank Vacant Land

      Four vacant land lots in Detroit's Chadsey/Condon neighborhood.
      3643 30Th St, Detroit, MI 48210
      View Details
    • $88,000
      0.11 Acres

      Detroit Land Development Opportunity

      Four residential lots totaling 24,485 SF near Corktown.
      5131 Bangor St, Detroit, MI 48210
      View Details
    • $120,000
      0.10 Acres

      Detroit Vacant Land Opportunity

      Eight residential lots near Corktown and downtown Detroit.
      3561 Lovett St, Detroit, MI 48210
      View Details
    • $150,000
      0.15 Acres

      Detroit Corner Lot Opportunity

      Corner lot available for lease or development in Detroit.
      4500 Michigan Ave, Detroit, MI 48210
      View Details
    • $99,000

      Detroit Industrial Land - M4 Zoning

      Prime Detroit development parcel, 0.7 acres, $99,000.
      4253 Mcgraw Ave, Detroit, MI 48210
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Land Near Rail Yard

      15.87 acres available for lease near I-94 and rail.
      6100 Mcgraw St, Detroit, MI 48210
      View Details
    • $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

      Secured Truck and Trailer Storage

      Fenced, lit lot near freeway, border, and railyard.
      6431 Epworth St, Detroit, MI 48210
      View Details
    • $5 SF/Yr
      170,000 SF

      Detroit Warehouse/Manufacturing Space

      10,000-170,000 SF Available Now
      3401 Martin 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
    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.
    6217 Lonyo St
    Detroit, MI 48210-1812
    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.