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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office buildings
35100 Michigan Ave, Wayne, MI 48184-3698
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US43-1311433
Property summary
AI-generated overview
This exceptional four-building office complex, totaling 23,264 square feet, is strategically located in downtown Wayne, Michigan, boasting high visibility frontage on East Michigan Avenue. The property, classified as Class B, presents a compelling owner-user or value-add investment opportunity. Currently at 40% occupancy, the complex offers significant upside potential with rent bumps in place. Individual suites range from approximately 1,900 to 6,049 square feet, providing flexibility for various tenants. The asking price is $2,800,000, translating to $120.36 per square foot. The property is offered as a net-lease (NNN) sale, and tenant credit is available for qualified occupants. This multi-tenant property features a desirable campus-like setting and is ideal for a business seeking to establish a strong presence in the Wayne market. The buildings are single-story structures. Up to 11,973 square feet of space is currently available for lease. This is a for-sale-by-owner opportunity.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Total area
7,632 SF
Lot
1.18 ac (51,401 SF)
APN
55 018 01 0188 300
UPID
US43-1311433
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$558k
Blend (final)
Blend
$560k
Owner & transaction history
Rush Investments-2 LLC · 17 yrs held
Rush Investments-2 LLC
since 2009
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$840,000
+13.1%
Restaurant
$790,000
+6.6%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
OFFICE BUILDING
$740,000
Current use
COMMERCIAL (GENERAL)
$840,000
Change: +13% · Conversion: Easy
RESTAURANT
$790,000
Change: +7% · Conversion: Moderate
MEDICAL BUILDING
$720,000
Change: -3% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$73 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$17,967
Tax year 2023
Assessed value
$244,700
Assessed 2024
Previous assessed
$244,700
+0.0% YoY
Effective rate
7.34%
On assessed value
Total market value
$489,400
Applied tax rate
82,160.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Stories
1
Total area
7,632 SF
Lot
1.18 ac (51,401 SF)
APN
55 018 01 0188 300
UPID
US43-1311433
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$740,000
COMMERCIAL (GENERAL)
Est. value
$840,000
RESTAURANT
Est. value
$790,000
MEDICAL BUILDING
Est. value
$720,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1996
Heating
FORCED AIR
Stories
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
Rush Investments-2 LLC
Entity
Mailing address
PO BOX 864, WALLED LAKE, MI 48390-0864
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2009
—
Rush Investments-2 LLC
Rush Andra M Living Trust
Quit Claim Deed
—
—
—
Rush Andra M Living Trust
—
Deed Of Trust
related
$8,274,810 · Comerica Bank
—
—
Rush Investments-2 LLC
—
Loan Modification
related
—
—
—
Rush Investments-2 LLC
—
Deed Of Trust
related
$2,200,000 · Standard 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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