Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    6572 Commerce Dr Westland, MI 48185-5677

    • Manufacturing properties
    • 10,618 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Apr 15, 2024
    $1,050,000
    Value Estimations
    $1,035,000
    Show details
    Cap Rate Potential
    5.2%
    Manufacturing properties
    Location Intelligence
    Property ID
    US43-1784969
    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

    • Manufacturing properties

    Property Details for 6572 Commerce Dr

    Year built
    1996
    Lot size
    0.93 lot acres
    Property size
    10,618 SF
    Property type
    Manufacturing properties
    APN
    56 026 99 0029 701
    APU
    56026990029701

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,050,000
      ML approach
      $1,050,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $955,000
      6.5%
      $880,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $908,000
      Market price range: $475k - $975k
      AI Estimate
      $908,000
      Market price range: $475k - $975k

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

    Location Insight

    • Map
    • Local Demand
    City
    Westland
    County
    Wayne
    State
    Michigan
    Longitude
    -83.4219
    Latitude
    42.3325
    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
    $19,813
    $0.00
    $0.00
    $332,000
    -
    $0.00
    $0.00
    $664,000

    Comparable in this City

    • Value Estimation by Request
      9,775 SF

      5697 Executive Dr

      MANUFACTURING (LIGHT) • 9,775 SF
      5697 Executive Dr, Westland, MI 48185-1932
      View Details
    • Value Estimation by Request
      19,350 SF

      5899 Executive Dr

      MANUFACTURING (LIGHT) • 19,350 SF
      5899 Executive Dr, Westland, MI 48185-1932
      View Details
    • Value Estimation by Request
      18,496 SF

      5870 Hix Rd

      MANUFACTURING (LIGHT) • 18,496 SF
      5870 Hix Rd, Westland, MI 48185-1904
      View Details
    • Value Estimation by Request
      10,125 SF

      39050 Webb Ct

      MANUFACTURING (LIGHT) • 10,125 SF
      39050 Webb Ct, Westland, MI 48185-7606
      View Details
    • Value Estimation by Request
      11,565 SF

      38462 Webb Dr

      MANUFACTURING (LIGHT) • 11,565 SF
      38462 Webb Dr, Westland, MI 48185-1974
      View Details
    • Value Estimation
      $150,000
      8,803 SF

      31776 Cowan Rd

      MANUFACTURING (LIGHT) • 8,803 SF
      31776 Cowan Rd, Westland, MI 48185-2378
      View Details

    Similar Nearby for Sale

    • $1,300,000
      20,056 SF

      Westland Industrial Space Available

      7,000 SF industrial space available immediately in Westland, Michigan.
      39101 Webb Dr, Westland, MI 48185
      View Details
    • Contact for pricing
      18,000 SF

      Westland Industrial Building For Sale

      18,000 SF Manufacturing Space Available
      5901 Commerce Dr, Westland, MI 48185
      View Details
    • $60,000
      2,000 SF

      Westland Dry Cleaners: Turn-Key Business

      Profitable Dry Cleaners in High-Traffic Plaza
      8331 Wayne Rd, Westland, MI 48185
      View Details
    • $79,900
      3,335 SF

      Westland Industrial Space - Great ROI

      Profitable Bulk Food Business, Turnkey Operation
      35705 Warren Rd, Westland, MI 48185
      View Details
    • $399,999
      5,400 SF

      Westland Industrial Property - 5,400 SF

      Prime Westland industrial property, two buildings, half-acre lot.
      630 Wayne Rd, Westland, MI 48185
      View Details
    • $425,000
      2,718 SF

      Westland Industrial Building For Sale

      Prime Westland location, versatile industrial space.
      844 Wayne Rd, Westland, MI 48185
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,056 SF

      Westland Warehouse Space For Lease

      High-clearance warehouse space with updated offices, available January 2025.
      39101-39105 Webb Dr, Westland, MI 48185
      View Details
    • Contact for pricing

      Westland Warehouse Space Available

      Warehouse space available for lease in Westland, Michigan.
      5727 Executive Dr East, Westland, MI 48185
      View Details
    • $6 SF/Yr
      16,362 SF

      Westland Warehouse Space Available

      Industrial warehouse space for lease in Westland, Michigan.
      38380 Abruzzi Dr, Westland, MI 48185
      View Details
    • $10 SF/Yr
      7,881 SF

      Flex Unit in Metro Detroit

      First-class flex unit available for lease in Canton, MI.
      40433-40635 Koppernick Rd, Canton, MI 48185
      View Details
    • $10 SF/Yr
      7,310 SF

      First-Class Flex Space Available

      Flex space with new build-outs available for lease.
      40443-40655 Koppernick Rd, Canton, MI 48185
      View Details
    • Contact for pricing
      38,333 SF

      Westland Crossing Outparcel: Prime Retail Land

      High-traffic retail land, excellent visibility.
      0 Wayne Rd, Westland, MI 48185
      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.
    6572 Commerce Dr
    Westland, MI 48185-5677
    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.