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

    8601 Woodward Ave Detroit, MI 48202-2141

    • Office buildings
    • 23,695 SF
    • 0.63 lot acres
    OFF-MARKET
    Value Estimations
    $1,460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-1005096
    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

    • Pearl SMART Schools / Educational Institution / School District Office
    • People's Community Church / Non-Denominational Church / Christian Church

    Property Details for 8601 Woodward Ave

    Year built
    1900
    Lot size
    0.63 lot acres
    Property size
    23,695 SF
    Zone code
    B4
    Property type
    Office buildings
    APN
    02001713.
    APU
    2001713

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,460,000
      Market price range: $602k - $2.41M
      AI Estimate
      $1,455,000
      Market price range: $620k - $2.41M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,460,000
      Current use
      COMMERCIAL (GENERAL)
      $2,165,000
      Change: +48% Conversion: Easy
      RESTAURANT
      $2,160,000
      Change: +48% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $1,795,000
      Change: +23% Conversion: Difficult
      RETAIL STORES
      $1,635,000
      Change: +12% Conversion: Moderate
      MEDICAL BUILDING
      $1,495,000
      Change: +2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,435,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0797
    Latitude
    42.3788
    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
    2020
    $1,700
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,535,000
      89,916 SF

      138 Pallister St

      OFFICE BUILDING • 89,916 SF
      138 Pallister St, Detroit, MI 48202-2357
      View Details
    • Value Estimation
      $795,000
      12,915 SF

      100 Palmer St

      OFFICE BUILDING • 12,915 SF
      100 Palmer St, Detroit, MI 48202-3822
      View Details
    • Value Estimation by Request
      1,672 SF

      442 Piquette St

      OFFICE BUILDING • 1,672 SF
      442 Piquette St, Detroit, MI 48202-3548
      View Details
    • Value Estimation by Request
      3,396 SF

      326 Fry St

      OFFICE BUILDING • 3,396 SF
      326 Fry St, Detroit, MI 48202-3859
      View Details
    • Value Estimation
      $2,255,000
      22,200 SF

      7650 2nd Ave

      OFFICE BUILDING • 22,200 SF
      7650 2nd Ave, Detroit, MI 48202-2412
      View Details
    • Value Estimation
      $8,595,000
      139,652 SF

      5700 Cass Ave

      OFFICE BUILDING • 139,652 SF
      5700 Cass Ave, Detroit, MI 48202-3692
      View Details

    Similar Nearby for Sale

    • $500,000

      Renovated Office Building For Sale

      3,800 SF renovated office building with income in Detroit.
      11318 Woodward Ave, Detroit, MI 48202
      View Details
    • $515,000
      3,919 SF

      Redevelopment Opportunity on Grand Blvd

      Redevelopment opportunity with many potential uses in Detroit.
      2994 E Grand Blvd, Detroit, MI 48202
      View Details
    • Contact for pricing
      5,508 SF

      Medical/Commercial Building in Opportunity Zone

      Centrally located medical/commercial building in high-traffic area.
      8282 Woodward Ave, Detroit, MI 48202
      View Details
    • $1,300,000
      5,500 SF

      Bloomfield Medical Center - Detroit

      Profitable Medical Office Building, Detroit
      8282 Woodward Ave, Detroit, MI 48202
      View Details
    • $1,950,000
      36,000 SF

      Detroit Office Building - M-3 Zoning

      36,000 SF Office Building - $1.95M
      632 Harper Ave, Detroit, MI 48202
      View Details
    • $899,999
      3,113 SF

      Renovated Commercial Property in Detroit

      Versatile, renovated commercial property in Detroit's evolving North End/Piety Hill.
      611 W Philadelphia St, Detroit, MI 48202
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      15,539 SF

      Detroit Creative Office Space

      4,630 SF Available in Midtown
      1314 Holden St, Detroit, MI 48202
      View Details
    • $5,800 /Mo

      New Center Commercial Building

      Commercial building in New Center with office and warehouse space.
      850 W Baltimore St, Detroit, MI 48202
      View Details
    • $850,000
      5,400 SF

      Historic Office Building on Woodward

      1927 building with versatile space and high visibility.
      22100 Woodward Ave, Ferndale, MI 48202
      View Details
    • $19 SF/Yr
      608,823 SF

      New Center One Office Space

      Class A Detroit Office Building, 19 Suites Available
      3031 Grand Blvd, Detroit, MI 48202
      View Details
    • Contact for pricing
      7,138 SF

      Woodward Ave Executive Office Space

      Detroit Office Suite, 2318 sq ft available
      7446 Woodward Ave, Detroit, MI 48202
      View Details
    • Contact for pricing
      496,208 SF

      Prime Retail/Office Space in Detroit

      Retail/office space in the heart of Detroit's New Center.
      3031 W Grand Blvd, Detroit, MI 48202
      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.
    8601 Woodward Ave
    Detroit, MI 48202-2141
    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.