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    6851 Merriman Rd Romulus, MI 48174
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    6851 Merriman Rd Romulus, MI 48174

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    • Industrial properties
    • 1,034 SF
    • 1.77 lot acres
    For Sale
    $250,000
    View Listing →
    Prime Commercial Land Near DTW For Sale
    $250,000
    2.00 Acres

    Prime Commercial Land Near DTW

    2+ acre commercial parcel near Detroit Metro Airport.

    6851 Merriman Road, Romulus, MI 48174
    View Listing
    Property ID
    US43-0469161
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 6851 Merriman Rd

    Year built
    1919
    Lot size
    1.77 lot acres
    Property size
    1,034 SF
    Property type
    Industrial properties

    Description

    This exceptional 1.77-acre industrial property in Romulus, Michigan, presents a remarkable business opportunity. The property boasts a 1,034 square foot building and is currently zoned C-2, offering potential for diverse uses and rezoning possibilities. A substantial pole barn is included, providing ample storage or workshop space. Its strategic location offers unparalleled convenience, situated just 4 to 5 minutes from the Detroit Metropolitan Wayne County Airport (DTW) and in close proximity to major freeways I-275 and I-94. This prime location also benefits from its proximity to a thriving retail corridor, including prominent businesses such as Amazon Fulfillment Centers, Family Dollar, McDonald's, Taco Bell, Concentra Urgent Care, Shell, Mobil, Holiday Inn, Comfort Inn, BP, and Embassy Suites. The property's versatility and advantageous location make it an ideal investment for a wide range of businesses seeking a strategic foothold in a rapidly growing area. The combination of ample space, convenient access to transportation networks, and proximity to established businesses creates a compelling opportunity for significant return on investment. This property is ready for immediate occupancy and presents a rare chance to establish or expand your business in a high-demand location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Romulus
    County
    Wayne
    State
    Michigan
    Longitude
    -83.34656
    Latitude
    42.25505

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      Commercial Building in Romulus, MI

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      63,475 SF

      Romulus Land For Sale

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    Similar Nearby for Sale

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      2,761 SF

      Romulus Industrial Property with Trucking Potential

      2,761 SF industrial building on 1.47 acres, M-2 zoning.
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    • $900,000
      14,890 SF

      Romulus Industrial Space - Huge Potential

      14,890 SF Industrial Building, High Visibility
      36521 Goddard St, Romulus, MI 48174
      View Details
    • $395,000

      Romulus Industrial Land with Building

      5 acres with 5,000 SF building for sale.
      28684 Beverly Rd, Romulus, MI 48174
      View Details
    • $399,000
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      Commercial Building in Romulus, MI

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      View Details
    • Contact for pricing
      63,475 SF

      Romulus Land For Sale

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      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Romulus Industrial Single Tenant Space

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      Romulus Flex/Industrial Space Available

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      295,375 SF

      Romulus Warehouse Space For Lease

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      Freestanding Light Industrial Space

      11,800 SF light industrial space with overhead doors.
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      Industrial Park Near Detroit Airport

      Industrial spaces ideal for warehouse, distribution, and freight forwarding.
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      Industrial Park Near Detroit Airport

      Industrial space ideal for warehouse, distribution, and freight forwarding.
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    Romulus, MI 48174
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    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.

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    6851 Merriman Rd, Romulus, MI, 48174
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