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    Property profile & analytics

    6862 Michigan Ave Detroit, MI 48210-2868

    • Drug stores
    • 13,084 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimation
    $5,580,000
    Last Sale
    Jan 26, 2023
    $4,849,500
    Location Intelligence
    Property ID
    US43-1817437
    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

    • CVS Photo / Passport Photo Processor / Digital Printer
    • CVS Pharmacy / Pharmacy
    • CVS / Stationery Store / Vitamin & Supplements Store
    • CDReload - Online Bitcoin ATM / Crypto Atm / Atm
    • UPS Access Point location / Shipping And Mailing Service / Mailing Service

    Property Details for 6862 Michigan Ave

    Year built
    2008
    Lot size
    0.56 lot acres
    Property size
    13,084 SF
    Zone code
    B4
    Property type
    Drug stores
    APN
    18002431-5
    APU
    180024315

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $5,830,000

    • CAP approach

      CAP return
      Estimation
      6%
      $4,975,000
      6.5%
      $5,280,000
      7%
      $5,110,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $5,225,000
      Geo Method
      $4,645,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $5,185,000
      Retail
      $5,690,000
      Mixed-Use
      $5,780,000
      Hospitality
      $4,515,000
      Educational
      $5,100,000
      Residential Income
      $5,455,000
      Energy
      $4,850,000
      Income-Based Land
      $4,970,000
      Food Service
      $4,605,000

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1284
    Latitude
    42.3314
    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
    $34,451
    $0.00
    $0.00
    $528,200
    -
    $0.00
    $0.00
    $1,056,400

    Comparable in this City

    • Value Estimation by Request
      11,832 SF

      4805 Livernois St

      Restaurants • 11,832 SF
      4805 Livernois St, Detroit, MI 48210
      View Details
    • Value Estimation by Request
      1,800 SF

      7157 Warren Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      7157 Warren Ave, Detroit, MI 48210-1054
      View Details
    • Value Estimation by Request
      1,653 SF

      7387 Wheeler St

      RETAIL STORES (PERSONAL SERVICES) • 1,653 SF
      7387 Wheeler St, Detroit, MI 48210-1523
      View Details
    • Value Estimation by Request
      7,385 SF

      7940 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,385 SF
      7940 Michigan Ave, Detroit, MI 48210-2123
      View Details
    • Value Estimation by Request
      2,759 SF

      7131 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,759 SF
      7131 Michigan Ave, Detroit, MI 48210-2248
      View Details
    • Value Estimation by Request
      1,165 SF

      7373 Michigan Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,165 SF
      7373 Michigan Ave, Detroit, MI 48210-2225
      View Details

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      Freestanding restaurant with drive-thru on a highly visible corner.
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    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

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      Automotive, retail, and parking spaces available for lease in Detroit.
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      Detroit Commercial Property For Rent

      Commercial property available for rent in Detroit, Michigan.
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      View Details
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      Detroit Parking Opportunity For Rent

      Fenced parking lot with security system and electronic gate.
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    • $5 SF/Yr
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      Detroit Warehouse/Manufacturing Space

      10,000-170,000 SF Available Now
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      Industrial Land Near Rail Yard

      15.87 acres available for lease near I-94 and rail.
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    Property Visit Statistics

    • Visits by month
      51.9k
    • Visitors by month
      25.2k
    • Avg Time on site
      9 min
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    Detroit, MI 48210-2868
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    Realmo Value Estimation

    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.

    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.

    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
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