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Property profile & analytics
OFF-MARKET
Estimated value
$2,155,000
Retail space
12745 23rd Mile Rd Shelby Township, MI 48315-2703
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US43-1086283
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
12,532 SF
Lot
1.74 ac (75,794 SF)
Zoning code
LM
APN
23-07-14-400-054
UPID
US43-1086283
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Adelson LASIK Physician Ophthalmologist
-
Kawai Music Lesson Studios Vocational School Training Center
-
Kawai Music Lesson Studios (formerly Evola Music) Music Conservatory Music School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.16M
Owner & transaction history
Esem LLC · 21 yrs held
Esem LLC
since 2005
3 recorded transactions
Zoning & alternative use
LM · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+15.0%
Commercial (general)
$1.7M
+12.3%
Office building
$1.7M
+12.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Shelby Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby Township submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,545,000
Current use
RESTAURANT
$1,775,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,735,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$1,735,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$1,540,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.16M
Range $1.94M – $2.37M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$172 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$24,305
Tax year 2022
Assessed value
$998,400
Assessed 2023
Previous assessed
$991,500
+0.7% YoY
Effective rate
2.43%
On assessed value
Total market value
$1,996,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Stories
1
Total area
12,532 SF
Lot
1.74 ac (75,794 SF)
Zoning code
LM
APN
23-07-14-400-054
UPID
US43-1086283
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LM · Shelby Township, MI
Zoning LM · permitted uses
LM · Shelby Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Heating
FORCED AIR
Stories
1
Lot
1.74 ac
Current owner
From public records · entity-resolved
Esem LLC
Entity
Mailing address
12745 23RD MILE RD, SHELBY TOWNSHIP, MI 48315-2703
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2019
—
E S E M LLC
—
Deed
related
$950,000 · The Huntington National Bank
May 25, 2005
$325,000
Esem LLC
C & D Building LLC
Warranty Deed
—
—
—
Esem LLC
—
Deed Of Trust
related
$1,200,000 · Equitrust Life Insurance Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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