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

    6834 Park Ave Allen Park, MI 48101-2036

    • Retail properties
    • 1,660 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Feb 05, 2025
    $110,000
    Value Estimations
    $100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1167333
    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

    • Flowers On The Avenue / Florist / Gift Shop

    Property Details for 6834 Park Ave

    Year built
    1956
    Lot size
    0.05 lot acres
    Property size
    1,660 SF
    Zone code
    C 2
    Property type
    Retail properties
    APN
    30 012 03 0199 000
    APU
    30012030199000

    Description

    This 1,660 square foot mixed-use building, located at 6834 Park Avenue in Allen Park, Michigan, is offered for sale by the owner for $160,000. Built in 1956, this single-story, Class C property sits on a 0.046-acre lot and is zoned C2, permitting office, retail, and small cafe uses. The building offers an open interior space ideal for various business needs, featuring a large display window and excellent signage opportunities for high visibility. Its location in a high-traffic area with significant foot traffic ensures excellent accessibility. Convenient proximity to major highways and public transportation further enhances its appeal. The property is situated within a vibrant Allen Park neighborhood known for its supportive local businesses and loyal clientele, providing a strong foundation for business growth. The sale is subject to the buyer assuming any necessary repairs to bring the building up to code and obtaining a Certificate of Occupancy from the City of Allen Park upon sale completion. This presents a unique opportunity for entrepreneurs seeking a well-positioned commercial space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $100,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $155,000
      OFFICE BUILDING
      $155,000
      RETAIL STORES
      $140,000
      NEIGHBORHOOD: SHOPPING CENTER
      $130,000
      AUTO REPAIR, GARAGE
      $120,000
      WAREHOUSE, STORAGE
      $70,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Allen Park
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2088
    Latitude
    42.2558
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,407 SF

      7344 Allen Rd

      NURSERY, GREENHOUSE, FLORIST • 1,407 SF
      7344 Allen Rd, Allen Park, MI 48101-1921
      View Details
    • Value Estimation
      $195,000
      3,461 SF

      5903 Allen Rd

      NURSERY, GREENHOUSE, FLORIST • 3,461 SF
      5903 Allen Rd, Allen Park, MI 48101-2636
      View Details
    • Value Estimation by Request
      2,040 SF

      Liquor Store In Wayne County

      Restaurants • 2,040 SF
      0 Liquor Store In Wayne County, Allen Park, MI 48101
      View Details
    • Value Estimation by Request
      43,468 SF

      15803-16015 Southfield Rd

      Neighborhood centers • 43,468 SF
      15803-16015 Southfield Rd, Allen Park, MI 48101
      View Details
    • Value Estimation by Request
      5,640 SF

      Undisclossed

      Restaurants • 5,640 SF
      0 Undisclossed, Allen Park, MI 48101
      View Details
    • Value Estimation by Request
      0.05 Acres

      6635 Allen Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.05 Acres
      6635 Allen Rd, Allen Park, MI 48101-2003
      View Details

    Similar Nearby for Sale

    • $650,000
      5,500 SF

      Prime Allen Park Storefront

      High-traffic retail space, ample parking.
      19040 Ecorse Rd, Allen Park, MI 48101
      View Details
    • $279,000
      2,300 SF

      Allen Park Mixed-Use Building

      3-Unit Building, Updated, High Exposure
      5913 Allen Rd, Allen Park, MI 48101
      View Details
    • $799,000
      5,820 SF

      Updated Super Market Building For Sale

      Updated commercial building operating as a Super Market for sale.
      14730 Champaign Rd, Allen Park, MI 48101
      View Details
    • $750,000
      5,794 SF

      Updated Commercial Building For Sale

      Updated commercial building ready for your business dreams.
      4939 Allen Rd, Allen Park, MI 48101
      View Details
    • $2,275,000
      4,488 SF

      Krispy Kreme Investment Opportunity

      NNN Krispy Kreme with corporate guarantee and CPI increases.
      15050 Southfield Rd, Allen Park, MI 48101
      View Details
    • $3,600,000
      25.29 Acres

      Allen Park Industrial Land Sale

      25-Acre Industrial Land, Excellent Location
      0 Enterprise Dr, Allen Park, MI 48101
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      6,485 SF

      Allen Park Plaza Retail Space

      Modern Retail Space, Excellent Location
      3169 Fairlane Dr, Allen Park, MI 48101
      View Details
    • Contact for pricing
      1,000 SF

      Allen Road Commercial Space For Lease

      1,000 SF Office/Retail Space Available
      5236 Allen Rd, Allen Park, MI 48101
      View Details
    • $1,050 /Mo

      End-Cap Corner Retail Unit

      Retail space with open floor plan and main road frontage.
      17107 Ecorse Rd, Allen Park, MI 48101
      View Details
    • $1,295 /Mo

      Retail Space with Multiple Possibilities

      Affordable retail space, formerly a pharmacy, with multiple use possibilities.
      14737 Champaign Rd, Allen Park, MI 48101
      View Details
    • $3,000 /Mo

      Allen Park Auto Repair Center

      1,350 sq ft auto repair center for lease.
      4505 Allen Rd, Allen Park, MI 48101
      View Details
    • $2,500 /Mo
      4,453 SF

      Allen Park Medical Building Available

      Renovated medical building with a unit available for lease.
      19100 Goddard Rd, Allen Park, MI 48101
      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.
    6834 Park Ave
    Allen Park, MI 48101-2036
    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.