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    Property profile & analytics

    7313 Highland Rd Waterford, MI 48327-1509

    • Drive through restaurants
    • 4,096 SF
    • 1.25 lot acres
    OFF-MARKET
    Value Estimations
    $885,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4298885
    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

    • Drive through restaurants

    Property Details for 7313 Highland Rd

    Year built
    2016
    Lot size
    1.25 lot acres
    Property size
    4,096 SF
    Zone code
    BI
    Property type
    Drive through restaurants
    APN
    W -13-18-451-023
    APU
    W1318451023

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $973,000
      Market price range: $407k - $973k
      AI Estimate
      $798,000
      Market price range: $342k - $798k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $710,000
      Current use
      COMMERCIAL (GENERAL)
      $785,000
      Change: +11% Conversion: Easy
      MEDICAL BUILDING
      $645,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4317
    Latitude
    42.6601
    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
    $30,196
    $0.00
    $0.00
    $611,180
    -
    $0.00
    $0.00
    $1,222,360

    Comparable in this City

    • Value Estimation by Request
      2,570 SF

      5660 Highland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,570 SF
      5660 Highland Rd, Waterford, MI 48327-1926
      View Details
    • Value Estimation by Request
      4,341 SF

      5175 Highland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,341 SF
      5175 Highland Rd, Waterford, MI 48327-1915
      View Details
    • Value Estimation by Request
      1,729 SF

      7660 Highland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,729 SF
      7660 Highland Rd, Waterford, MI 48327-1406
      View Details
    • Value Estimation
      $575,000
      4,587 SF

      7600 Cooley Lk Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,587 SF
      7600 Cooley Lk Rd, Waterford, MI 48327-4190
      View Details
    • Value Estimation by Request
      1,890 SF

      5608 Highland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,890 SF
      5608 Highland Rd, Waterford, MI 48327-1926
      View Details
    • Value Estimation
      $615,000
      3,277 SF

      5854 Highland Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,277 SF
      5854 Highland Rd, Waterford, MI 48327-1827
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,998 SF

      Highland Road Restaurant Opportunity

      Waterford Township Restaurant - 4,998 SF
      7890 Highland Rd, Waterford Township, MI 48327
      View Details
    • Contact for pricing
      12,000 SF

      12,000 SF Retail Center For Sale

      Fully occupied retail center with high visibility on M-59.
      5302 Highland Rd, Waterford, MI 48327
      View Details
    • New
      $4,600,000
      49,434 SF

      Renovated Commercial Building on Highland

      49,434 SF building on 7.5 acres, renovated in 2023.
      5900 Highland Rd, Waterford, MI 48327
      View Details
    • Contact for pricing
      12,500 SF

      Retail Building with High Visibility

      12,500 SF building with 9.5% cap rate.
      7150 Cooley Lake Rd, Waterford Township, MI 48327
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail, Office, Medical Space Available

      Recently renovated retail strip center with great exposure.
      6650 Highland Rd, Waterford, MI 48327
      View Details
    • $20 SF/Yr
      4,537 SF

      Waterford Twp Restaurant - 4,537 SF

      Prime Restaurant Space, 1.43 Acres
      5834 Highland Rd, Waterford Township, MI 48327
      View Details
    • Contact for pricing

      Retail Space with Leasing Incentives

      Retail space available with leasing incentives and pylon signage.
      7362 Highland Rd, Waterford, MI 48327
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    • Contact for pricing

      Waterford Retail/Restaurant Opportunity

      4,998 SF building in prime Waterford area.
      7890 Highland Rd, Waterford Township, MI 48327
      View Details
    • Contact for pricing
      3,455 SF

      Retail Space in Waterford Plaza

      Retail space available in Waterford Plaza at M-59 & Crescent.
      5038 Highland Rd, Waterford, MI 48327
      View Details
    • Contact for pricing
      1,000 SF

      Redeveloped Retail Center Space

      Retail spaces available in a redeveloped shopping center.
      5733 Elizabeth Lake Rd, Waterford, MI 48327
      View Details

    Property Visit Statistics

    • Visits by month
      28.0k
    • Visitors by month
      20.2k
    • Avg Time on site
      24 min
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    7313 Highland Rd
    Waterford, MI 48327-1509
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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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