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Property profile & analytics
FOR LEASE
Super regional malls
1001 Welch Rd, Walled Lake, MI 48390
Entity Owned
23-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1503738
For Lease
$1,810,000
1001 Welch Rd, Walled Lake, MI 48390
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
2005
Total area
23,372 SF
Lot
3.73 ac (162,479 SF)
Zoning code
II
APN
E -17-26-476-010
UPID
US43-1503738
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
$2.43M
Blend (final)
Blend
$1.81M
Owner & transaction history
Maple Park Plaza LLC · 23 yrs held
Maple Park Plaza LLC
since 2003
6 recorded transactions
Zoning & alternative use
II · Commerce Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+31.7%
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 Walled Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Walled Lake 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
NEIGHBORHOOD: SHOPPING CENTER
$2,175,000
Current use
AUTO REPAIR, GARAGE
$2,865,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,890,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.81M
Range $1.63M – $1.99M · ±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
$77 / 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
$45,501
Tax year 2023
Assessed value
$1,157,070
Assessed 2024
Previous assessed
$1,157,170
0.0% YoY
Effective rate
3.93%
On assessed value
Total market value
$2,314,140
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
2005
Heating
YES
Buildings
7
Stories
1
Units
1
Total area
23,372 SF
Lot
3.73 ac (162,479 SF)
Zoning code
II
APN
E -17-26-476-010
UPID
US43-1503738
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Commerce Township, MI
Zoning II · permitted uses
II · Commerce Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Commerce Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$2.9M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
YES
Stories
1
Buildings
7
Units
1
Lot
3.73 ac
Current owner
From public records · entity-resolved
Maple Park Plaza LLC
Entity
Mailing address
1611 W LK DR, NOVI, MI 48377-1342
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2016
—
Maple Park Plaza LLC
—
Deed
related
$250,000 · Michigan First Cu
May 9, 2016
—
Maple Park Plaza LLC
—
Deed
related
$2,000,000 · Michigan First Cu
Feb 13, 2003
—
Maple Park Plaza LLC
Haitham Enterprises INC
Quit Claim Deed
related
—
—
—
Maple Park Plaza LLC
—
Deed Of Trust
related
$2,000,000 · Michigan First Cu
—
—
Maple Park Plaza LLC
—
Deed Of Trust
related
$250,000 · Michigan First Cu
—
—
Park Plaza Maple
—
Deed Of Trust
related
$1,500,000 · Bank One NA
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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