Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7840 Park Pl Brighton, MI 48116-8387

    • Commercial real estate
    • 864 SF
    • 8.20 lot acres
    OFF-MARKET
    Last Sale
    Jan 11, 2022
    $475,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1757822
    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

    • Commercial real estate

    Property Details for 7840 Park Pl

    Year built
    1969
    Lot size
    8.20 lot acres
    Property size
    864 SF
    Zone code
    LI
    Property type
    Commercial real estate
    APN
    16-14-200-032
    APU
    1614200032

    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
    Brighton
    County
    Livingston
    State
    Michigan
    Longitude
    -83.6928
    Latitude
    42.4889
    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
    2019
    $3,944
    $0.00
    $0.00
    $227,900
    -
    $0.00
    $0.00
    $455,800

    Comparable in this City

    • Value Estimation by Request
      17.10 Acres

      Green Oak Winans Lk Rd & Whitmore Lk Rd

      Land • 17.10 Acres
      Green Oak Winans Lk Rd & Whitmore Lk Rd, Brighton, MI 48116
      View Details
    • Value Estimation by Request
      8,973 SF

      8100-8160 Murphy Dr

      Medical offices • 8,973 SF
      8100-8160 Murphy Dr, Howell, MI 48116
      View Details
    • Value Estimation by Request

      7377 Challis Rd

      COMMERCIAL (GENERAL)
      7377 Challis Rd, Brighton, MI 48116-9480
      View Details
    • Value Estimation by Request

      5212 Moret Ct

      COMMERCIAL (GENERAL)
      5212 Moret Ct, Brighton, MI 48116
      View Details
    • Value Estimation by Request
      13.29 Acres

      1001 Orndorf Dr

      COMMERCIAL (GENERAL) • 13.29 Acres
      1001 Orndorf Dr, Brighton, MI 48116-2308
      View Details
    • Value Estimation by Request
      0.21 Acres

      Cowell Rd

      COMMERCIAL (GENERAL) • 0.21 Acres
      Cowell Rd, Brighton, MI 48116
      View Details

    Similar Nearby for Sale

    • $1,237,500
      5.50 Acres

      Legacy Park Commercial Land

      5.5 Acres, Brighton, MI - Prime Development Site
      0 Whitmore Lake Rd, Brighton, MI 48116
      View Details
    • $700,000
      0.14 Acres

      Downtown Brighton Development Opportunity

      Unique Mixed-Use Land Assemblage
      116 St, Brighton, MI 48116
      View Details
    • Contact for pricing
      87.21 Acres

      Solon Office Space Available

      Modern Office Suite, Prime Solon Location
      0 Challis Rd, Brighton, MI 48116
      View Details
    • $1,100,000
      1.68 Acres

      Brighton Commercial Land - 1.68 Acres

      Prime Brighton location, C-1 zoning, development ready.
      0 Grand River Ave, Brighton, MI 48116
      View Details
    • Contact for pricing
      6.39 Acres

      Industrial Land: Brighton, MI

      6.385 Acres, I-96 Frontage, $70k/Acre
      0 Ford Ct, Brighton, MI 48116
      View Details
    • $2,150,000
      17.10 Acres

      Legacy Park: 17.1 Acres Development Land

      Prime Commercial Land, Brighton, MI
      Green Oak Winans Lk Rd & Whitmore Lk Rd, Brighton, MI 48116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Emerson Drive Industrial Space

      12,000 SF Warehouse/Manufacturing Space Available
      12800-12828 Emerson Dr, Brighton, MI 48116
      View Details
    • Contact for pricing

      Brighton Commercial Property For Rent

      Commercial property available for rent in Brighton, Michigan.
      7030 Whitmore Lake Rd, Brighton, MI 48116
      View Details
    • Contact for pricing

      Office Space For Rent

      Office space available for lease in Brighton, MI.
      Brighton, MI 48116
      View Details
    • $2,800,000
      9,200 SF

      Industrial Building on Grand River

      Well-maintained industrial building with fenced lot and storage.
      11801 Grand River Rd, Brighton, MI 48116
      View Details
    • $1,500 /Mo

      Highly Visible Office Building

      Office suites available in a highly visible location.
      7077 600, Brighton, MI 48116
      View Details
    • Contact for pricing
      24,320 SF

      Green Oak Village Retail Space

      Brighton, MI: Prime Retail Opportunity
      9608 Village Place Blvd, Brighton, MI 48116
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7840 Park Pl
    Brighton, MI 48116-8387
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.