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    Property profile & analytics

    Commerce Township, MI 48382

    • Turn key restaurants
    • 2,718 SF
    • 79.02 lot acres
    OFF-MARKET
    Value Estimations
    $590,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2561308
    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

    • Turn key restaurants

    Property Details

    Year built
    1975
    Lot size
    79.02 lot acres
    Property size
    2,718 SF
    Zone code
    MM
    Property type
    Turn key restaurants
    APN
    E -17-12-326-001
    APU
    E1712326001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $645,000
      Market price range: $270k - $646k
      AI Estimate
      $529,000
      Market price range: $227k - $530k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $470,000
      Current use
      COMMERCIAL (GENERAL)
      $480,000
      Change: +2% Conversion: Easy
      RETAIL STORES
      $460,000
      Change: -2% Conversion: Easy
      MEDICAL BUILDING
      $430,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Commerce Township
    County
    Oakland
    State
    Michigan
    Longitude
    -83.4558
    Latitude
    42.5892
    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
    $17,457
    $0.00
    $0.00
    $677,910
    -
    $0.00
    $0.00
    $1,355,820

    Comparable in this City

    • Value Estimation by Request
      710 SF

      602 Commerce Rd

      RESTAURANT • 710 SF
      602 Commerce Rd, Commerce Township, MI 48382-3925
      View Details
    • Value Estimation by Request
      666 SF

      2745 Un Lk Rd

      RESTAURANT • 666 SF
      2745 Un Lk Rd, Commerce Township, MI 48382-3561
      View Details
    • Value Estimation by Request
      4,667 SF

      8635 Cooley Lk Rd

      RESTAURANT • 4,667 SF
      8635 Cooley Lk Rd, Commerce Township, MI 48382-4723
      View Details
    • Value Estimation by Request
      600 SF

      1599 Un Lk Rd

      RESTAURANT • 600 SF
      1599 Un Lk Rd, Commerce Township, MI 48382-2239
      View Details
    • Value Estimation
      $4,500,000
      14,090 SF

      2323 Un Lk Rd

      RESTAURANT • 14,090 SF
      2323 Un Lk Rd, Commerce Township, MI 48382-3553
      View Details
    • Value Estimation by Request
      1,134 SF

      8197 Cooley Lk Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,134 SF
      8197 Cooley Lk Rd, Commerce Township, MI 48382-2306
      View Details

    Similar Nearby for Sale

    • $475,000

      Union Lake Commercial Property For Sale

      Well-maintained 2,860 SF commercial property in high-traffic area.
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    • $475,000
      3,562 SF

      Commerce Twp Convenience Store

      High-traffic location, turnkey operation
      2515 Un Lk Rd, Commerce Charter Township, MI 48382
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    • $475,000
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      Union Lake Commercial Property Available

      Well-maintained commercial property in high-traffic Union Lake location.
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    • $123,999
      0.57 Acres

      Commerce Twp Corner Lot

      Residential corner lot in Commerce Twp with lake access.
      8330 Dickert St, Commerce Twp, MI 48382
      View Details
    • Contact for pricing

      Medical Building on Union Lake

      Multi-tenant medical building with high traffic signage available.
      8391 Commerce Rd, Commerce Township, MI 48382
      View Details
    • $400,000
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      Updated Office Space For Sale

      Updated 1,100 SF office space with excellent visibility.
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    Similar Nearby for Lease

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      3,562 SF

      Union Lake Road Retail Space

      Prime Commerce Twp retail, 3,562 SF.
      2515 Un Lk Rd, Commerce Charter Township, MI 48382
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    • Contact for pricing
      27,711 SF

      Pine Cove Plaza: Medical Office Space

      Commerce Twp Medical Office Suites Available
      8350 Richardson Ave, Commerce Charter Township, MI 48382
      View Details
    • $12 SF/Yr
      22,236 SF

      R&M Plaza: Commerce Twp Retail Space

      High-traffic retail/office space, newly renovated.
      1529-1575 Un Lk Rd, Commerce Charter Township, MI 48382
      View Details
    • $19 SF/Yr
      1,199 SF

      Medical Building on Union Lake

      Professionally managed medical building in a growing community.
      8391 Commerce Rd, Commerce Township, MI 48382
      View Details
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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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