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    Property profile & analytics

    8505 Main St Whitmore Lake, MI 48189-9248

    • Office buildings
    • 1,980 SF
    • 0.71 lot acres
    OFF-MARKET
    Last Sale
    Oct 27, 2022
    $780,000
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    4.5%
    Office buildings
    Location Intelligence
    Property ID
    US43-1182930
    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

    • Mill Creek Lighting Supply / Plastic Fabrication Company / Lighting Consultant

    Property Details for 8505 Main St

    Year built
    2000
    Lot size
    0.71 lot acres
    Property size
    1,980 SF
    Zone code
    GC-GEN COMMERCI
    Property type
    Office buildings
    APN
    B -02-08-250-016
    APU
    B0208250016

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $730,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $545,000
      6.5%
      $500,000
      7%
      $465,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitmore Lake
    County
    Washtenaw
    State
    Michigan
    Longitude
    -83.7619
    Latitude
    42.4086
    CBSA code
    11460
    CBSA name
    ANN ARBOR, 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
    $13,220
    $0.00
    $0.00
    $219,600
    -
    $0.00
    $0.00
    $439,200

    Comparable in this City

    • Value Estimation by Request
      4,128 SF

      58 Barker Rd

      OFFICE BUILDING • 4,128 SF
      58 Barker Rd, Whitmore Lake, MI 48189-9500
      View Details
    • Value Estimation by Request
      300 SF

      7986 Coyle Rd

      OFFICE BUILDING • 300 SF
      7986 Coyle Rd, Whitmore Lake, MI 48189-9242
      View Details
    • Value Estimation by Request
      49,908 SF

      8350 Main St

      OFFICE BUILDING • 49,908 SF
      8350 Main St, Whitmore Lake, MI 48189-9246
      View Details
    • Value Estimation
      $105,000
      360 SF

      9555 Main St

      OFFICE BUILDING • 360 SF
      9555 Main St, Whitmore Lake, MI 48189-9401
      View Details
    • Value Estimation by Request
      19,128 SF

      7050 Jo Mar Dr

      OFFICE BUILDING • 19,128 SF
      7050 Jo Mar Dr, Whitmore Lake, MI 48189-8241
      View Details
    • Value Estimation by Request
      1,008 SF

      1180 Barker Rd

      OFFICE BUILDING • 1,008 SF
      1180 Barker Rd, Whitmore Lake, MI 48189-9263
      View Details

    Similar Nearby for Sale

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    • $429,900
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      Whitmore Lake Mixed-Use Property

      Remodeled mixed-use property in historic downtown Whitmore Lake.
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      Whitmore Lake Development Land

      66 Acres, Prime Residential Potential
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    • $599,900
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      11.5 Acres Highway Commercial Land

      11.5 acres of commercial land with highway frontage.
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    • $850,850

      10-Acre Industrial Land Parcel

      10.01-acre industrial land parcel on Whitmore Lake Road.
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    Similar Nearby for Lease

    • $276 SF/Yr
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      Hamburg Office Space Available

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    • $12 SF/Yr
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      Whitmore Lake Commercial Space

      Downtown Whitmore Lake retail/office suites
      9519 Main St, Whitmore Lake, MI 48189
      View Details
    • $8 SF/Yr
      80,000 SF

      Prime Whitmore Lake Industrial Space

      80,000 SF Multi-Tenant Industrial Facility
      10505 Plaza Dr, Whitmore Lake, MI 48189
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    • Contact for pricing
      21,300 SF

      Renovated Retail Spaces For Lease

      Retail spaces available between Ann Arbor and Brighton off US-23.
      11900 N Whitmore Lake Rd, Whitmore Lake, MI 48189
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    • $3,000 /Mo
      2,900 SF

      Retail Space Near Whitmore Lake

      Retail space available near Main St. and the water.
      148 Barker Rd, Whitmore Lake, MI 48189
      View Details
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    Whitmore Lake, MI 48189-9248
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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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