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    Property profile & analytics

    Dearborn, MI 48124

    • Investment properties
    • 63,706 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    $9,215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4296191
    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

    • Investment properties

    Property Details

    Year built
    2017
    Lot size
    0.96 lot acres
    Property size
    63,706 SF
    Zone code
    BC
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    82 09 223 05 010
    APU
    820922305010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,213,000
      Market price range: $3.25M - $10.4M
      AI Estimate
      $9,213,000
      Market price range: $3.25M - $10.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,480,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $14,545,000
      Change: +125% Conversion: Moderate
      OFFICE BUILDING
      $9,415,000
      Change: +45% Conversion: Easy
      RESTAURANT
      $9,105,000
      Change: +41% Conversion: Difficult
      RETAIL STORES
      $7,470,000
      Change: +15% Conversion: Easy
      MEDICAL BUILDING
      $6,700,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Dearborn
    County
    Wayne
    State
    Michigan
    Longitude
    -83.2434
    Latitude
    42.306
    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
    $275,916
    $0.00
    $0.00
    $4,426,500
    -
    $0.00
    $0.00
    $8,853,000

    Comparable in this City

    • Value Estimation
      $4,575,000
      54,722 SF

      22200 Michigan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 54,722 SF
      22200 Michigan Ave, Dearborn, MI 48124-2225
      View Details
    • Value Estimation
      $2,160,000
      22,400 SF

      22411 Michigan Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 22,400 SF
      22411 Michigan Ave, Dearborn, MI 48124-2130
      View Details
    • Value Estimation by Request
      5,920 SF

      1903 Monroe St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,920 SF
      1903 Monroe St, Dearborn, MI 48124-2916
      View Details
    • Value Estimation
      $11,870,000
      84,333 SF

      Dearborn, MI 48124

      OFFICE/RESIDENTIAL (MIXED USE) • 84,333 SF
      Dearborn, MI 48124
      View Details
    • Value Estimation
      $2,235,000
      50,350 SF

      3101 Gulley Rd

      INDUSTRIAL LOFT BUILDING • 50,350 SF
      3101 Gulley Rd, Dearborn, MI 48124-4406
      View Details
    • Value Estimation
      $575,000
      9,270 SF

      3241 Gulley Rd

      INDUSTRIAL LOFT BUILDING • 9,270 SF
      3241 Gulley Rd, Dearborn, MI 48124-4405
      View Details

    Similar Nearby for Sale

    • $499,900

      Modern Commercial Space in Dearborn

      Built in 2022, ideal for restaurant, medical, or retail.
      3764 Monroe St, Dearborn, MI 48124
      View Details
    • $80,000

      Morley Manor One-Bedroom Unit

      One-bedroom unit with updates and balcony view in Morley Manor.
      21800 Morley Ave, Dearborn, MI 48124
      View Details
    • Contact for pricing
      48,000 SF

      Downtown Dearborn Medical Office Building

      Two-story, 48,000 SF medical office building in West Dearborn.
      22731 Newman St, Dearborn, MI 48124
      View Details
    • $598,900
      4,336 SF

      Dearborn Heights Stand Alone Building

      Prime stand alone building in Dearborn Heights Downtown West.
      1103 Washington St, Dearborn, MI 48124
      View Details
    • $250,000
      15,000 SF

      Turn-Key Dessert Cafe Opportunity

      Thriving dessert cafe in Downtown West Dearborn for sale.
      1025 Mason St, Dearborn, MI 48124
      View Details
    • $849,999
      4,900 SF

      25217 Michigan Ave, Dearborn, MI 48124

      Industrial properties • 4,900 SF
      25217 Michigan Ave, Dearborn, MI 48124
      View Details

    Similar Nearby for Lease

    • $4,800 /Mo
      8,031 SF

      Dearborn Office Space For Lease

      Prime location office space suitable for medical or professional uses.
      2021 Monroe St, Dearborn, MI 48124
      View Details
    • Contact for pricing
      32,000 SF

      Vacant Parcel in Downtown Dearborn

      Prime vacant land available for lease in downtown Dearborn.
      22236 Michigan Ave, Dearborn, MI 48124
      View Details
    • Contact for pricing
      1,758 SF

      Medical Office Space in Dearborn

      Medical office suites available in Downtown West Dearborn.
      22731 Newman St, Dearborn, MI 48124
      View Details
    • $12 SF/Yr
      3,620 SF

      Dearborn Retail Center - For Lease

      High-visibility storefront, 3,620 sq ft available.
      2719-2731 Telegraph Rd, Dearborn, MI 48124
      View Details
    • $16 SF/Yr
      135,000 SF

      Dearborn Office Space Available

      Executive Suites, 1,200 sq ft, Great Location
      835 Mason St, Dearborn, MI 48124
      View Details
    • Contact for pricing

      Dearborn Commercial Property for Rent

      Commercial property available for rent in Dearborn, Michigan.
      3001 Gulley Rd, Dearborn, MI 48124
      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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