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

    7243 Miller Dr Warren, MI 48092-4746

    • Flex space
    • 47,392 SF
    OFF-MARKET
    Value Estimations
    $2,865,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4229789
    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

    • Jomar Valve / Industrial Manufacturer / Production Facility

    Property Details for 7243 Miller Dr

    Year built
    2004
    Property size
    47,392 SF
    Property type
    Flex space
    APN
    12-98-72-005-051
    APU
    129872005051

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,867,000
      Market price range: $1.64M - $4.27M
      AI Estimate
      $2,867,000
      Market price range: $1.64M - $4.27M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,865,000
      Current use
      OFFICE BUILDING
      $4,495,000
      Change: +57% Conversion: Difficult
      RESTAURANT
      $4,095,000
      Change: +43% Conversion: Difficult
      MEDICAL BUILDING
      $3,825,000
      Change: +33% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,695,000
      Change: +29% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,195,000
      Change: +11% Conversion: Easy
      COMMERCIAL (GENERAL)
      $3,090,000
      Change: +8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Macomb
    State
    Michigan
    Longitude
    -83.0321
    Latitude
    42.5275
    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
    2022
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,100,000
      36,796 SF

      6115 13th Mile Rd

      LIGHT INDUSTRIAL • 36,796 SF
      6115 13th Mile Rd, Warren, MI 48092-2050
      View Details
    • Value Estimation
      $1,325,000
      14,720 SF

      31164 Dequindre Rd

      LIGHT INDUSTRIAL • 14,720 SF
      31164 Dequindre Rd, Warren, MI 48092-3722
      View Details
    • Value Estimation
      $610,000
      8,432 SF

      5750 Enterprise Ct

      LIGHT INDUSTRIAL • 8,432 SF
      5750 Enterprise Ct, Warren, MI 48092-3462
      View Details
    • Value Estimation by Request
      4,800 SF

      27439 Mound Rd

      LIGHT INDUSTRIAL • 4,800 SF
      27439 Mound Rd, Warren, MI 48092-4557
      View Details
    • Value Estimation
      $805,000
      13,478 SF

      27555 Mound Rd

      LIGHT INDUSTRIAL • 13,478 SF
      27555 Mound Rd, Warren, MI 48092-4558
      View Details
    • Value Estimation
      $900,000
      11,997 SF

      7236 Murthum Ave

      LIGHT INDUSTRIAL • 11,997 SF
      7236 Murthum Ave, Warren, MI 48092-1251
      View Details

    Similar Nearby for Sale

    • $1,290,000
      6,885 SF

      Warren Industrial Restaurant Opportunity

      Fully equipped, high-traffic restaurant with liquor license.
      5702 12 Mile Rd, Warren, MI 48092
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    • $295,000
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      Warren Industrial Building - $295K

      Three-unit industrial building, great investment!
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    • $389,900
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      Warren Office Space For Sale

      Office space available for purchase in Warren, Michigan.
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      View Details
    • Contact for pricing

      Government Leased Facility For Sale

      53,900 SF office building 100% leased to U.S. Government.
      Warren, MI 48092
      View Details
    • New
      $300,000
      1,890 SF

      Versatile Commercial Space, Warren, MI

      Highly visible commercial space suitable for medical, retail, or office.
      3750 E 12 Mile Rd, Warren, MI 48092
      View Details
    • $7,600,000
      70,486 SF

      Warren, MI Mixed-Use Investment

      Prime 6-acre Warren property, ideal for redevelopment.
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    Similar Nearby for Lease

    • $6 SF/Yr
      133,648 SF

      Macomb West Warehouse Space Available

      Large industrial space for lease; immediate occupancy.
      6500 14 Mile Rd, Warren, MI 48092
      View Details
    • $14 SF/Yr
      3,256 SF

      Warren Office Space for Lease

      Prime Macomb County Office/Retail Space Available
      6388 14 Mile Rd, Warren, MI 48092
      View Details
    • Contact for pricing
      4,859 SF

      Retail Space in Warren, MI

      Retail space available for lease in Warren, Michigan.
      28200 Dequindre Rd, Warren, MI 48092
      View Details
    • Contact for pricing
      6,000 SF

      Prime Warren Retail Space

      Former Bank, 6,000 SF, Drive-Thru
      2100 Twelve Mile Rd, Warren, MI 48092
      View Details
    • $18 SF/Yr
      6,822 SF

      Warren Office Building for Lease

      Modern Office Space, Flexible Layouts
      31207 Ryan Rd, Warren, MI 48092
      View Details
    • $1,250 /Mo

      Office or Retail Space Available

      Office or retail space for rent in Warren, Michigan.
      32480 Mound Rd Rd Unit, Warren, MI 48092
      View Details
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    7243 Miller Dr
    Warren, MI 48092-4746
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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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