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

    6919 Williams Lk Rd Waterford, MI 48329-2998

    • Grocery and convenience stores
    • 3,498 SF
    • 0.41 lot acres
    OFF-MARKET
    Last Sale
    Mar 22, 2021
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-0115466
    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

    • Grocery and convenience stores

    Property Details for 6919 Williams Lk Rd

    Year built
    1954
    Lot size
    0.41 lot acres
    Property size
    3,498 SF
    Zone code
    BI
    Property type
    Grocery and convenience stores
    APN
    W -13-08-303-008
    APU
    W1308303008

    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
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4251
    Latitude
    42.681
    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
    $6,382
    $0.00
    $0.00
    $160,660
    -
    $0.00
    $0.00
    $321,320

    Comparable in this City

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      2,375 SF

      4960 Dixie Hwy

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      4960 Dixie Hwy, Waterford, MI 48329-1708
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    • Value Estimation
      $1,625,000
      21,090 SF

      3515 Sashabaw Rd

      GROCERY, SUPERMARKET • 21,090 SF
      3515 Sashabaw Rd, Waterford, MI 48329-2656
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    • Value Estimation by Request
      3,680 SF

      5939 Andersonville Rd

      GROCERY, SUPERMARKET • 3,680 SF
      5939 Andersonville Rd, Waterford, MI 48329-1515
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    • Value Estimation
      $1,140,000
      6,850 SF

      3676 Dixie Hwy

      GROCERY, SUPERMARKET • 6,850 SF
      3676 Dixie Hwy, Waterford, MI 48329-4209
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    • Value Estimation by Request
      2,865 SF

      3461 Airport Rd

      GROCERY, SUPERMARKET • 2,865 SF
      3461 Airport Rd, Waterford, MI 48329-3017
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    • Value Estimation by Request
      2,269 SF

      4663 Walton Blvd

      GROCERY, SUPERMARKET • 2,269 SF
      4663 Walton Blvd, Waterford, MI 48329-3536
      View Details

    Similar Nearby for Sale

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      Waterford Retail Building For Sale

      Prime Waterford location, 3,727 sq ft, multiple uses
      4210 Sashabaw Rd, Waterford Township, MI 48329
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    • $399,000
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      Retail Property with Beer/Wine License

      Retail property in Waterford, MI, includes beer and wine license.
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    • $275,000

      Versatile Commercial Space For Sale

      Commercial space with flexible floor plan and ample parking.
      2574 Airport Rd, Waterford, MI 48329
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    • $1,350,000
      13,763 SF

      Dixie Hwy Shopping Center Investment

      High-traffic retail center, former bowling alley.
      4443 Dixie Hwy, Waterford Township, MI 48329
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    • $500,000
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      Dixie Hwy Retail Opportunity

      Waterford Twp Retail - 1,241 SF
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    • $249,900
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      Commercial Land in Waterford, MI

      Commercial corner lot with frontage on Walton in Waterford, MI.
      000 Walton Blvd, Waterford, MI 48329
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    Similar Nearby for Lease

    • $1,000 /Mo

      Retail Space on Dixie Highway

      Retail space with high exposure and multiple floorplan options.
      5806 Dixie Hwy, Waterford, MI 48329
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    • Contact for pricing
      2,880 SF

      Retail Space in Waterford Plaza

      Neighborhood plaza with 2,880 sq ft available for rent.
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    • $17 SF/Yr
      1,241 SF

      Dixie Hwy Retail Opportunity

      Waterford Retail Space - For Lease/Sale
      4355 Dixie Hwy, Waterford Township, MI 48329
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    • $12 SF/Yr
      7,000 SF

      Dixie Hwy Executive Office Space

      7,000 SF Office/Retail, High Visibility
      5806 Dixie Hwy, Waterford Township, MI 48329
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    • $11,250 /Mo

      Turn Key Bar/Restaurant Space

      Fully operational bar/restaurant with billiards room and entertainment space.
      5100 Dixie Hwy, Waterford, MI 48329
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    • $12 SF/Yr
      31,929 SF

      Dixie Hwy Retail Center

      Waterford Twp retail space available.
      5300 Dixie Hwy, Waterford Township, MI 48329
      View Details
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    6919 Williams Lk Rd
    Waterford, MI 48329-2998
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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.

    More about this property
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