Warning: skip the fancy online valuations for Detroit storefronts

I spent 6 months chasing those automated price tools on a Cass Corridor building and they were all over the place, off by like 40%. What actually worked was walking the block and asking the two landlords who own the neighboring spots what they rent per square foot. Has anyone else had better luck with a simple comp list over the algorithm stuff?

3 comments

3 Comments

chen.adam20d ago

So did those two landlords actually give you numbers that matched what the places ended up selling for, or were they still kinda fuzzy on the real market?

jessica_robinson2318d ago

Did a buddy of mine get quoted $430K and the place sold for $385K, so take those numbers with a grain of salt.

patriciah5118d ago

Honestly, a $45K gap sounds more like a guessing game than a real market read.