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Property profile & analytics
OFF-MARKET
Estimated value
$4,285,000
Drug stores
1045 Gratiot Ave SB Clinton Township, MI 48036-3501
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US43-1207018
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
13,936 SF
Lot
1.59 ac (69,435 SF)
Zoning code
B-3
APN
16-11-23-129-021
UPID
US43-1207018
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
$1.85M
Blend (final)
Blend
$4.29M
Owner & transaction history
Exchangeright Net Leased Portf · 7 yrs held
Exchangeright Net Leased Portf
since 2018
6 recorded transactions
Zoning & alternative use
B-3 · Clinton Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+16.8%
Medical building
$1.7M
+1.2%
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 Clinton Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clinton 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
$1,690,000
Current use
RESTAURANT
$1,975,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$1,710,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$4.29M
Range $3.86M – $4.71M · ±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
$307 / 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
$39,003
Tax year 2022
Assessed value
$559,500
Assessed 2023
Previous assessed
$601,400
-7.0% YoY
Effective rate
6.97%
On assessed value
Total market value
$1,119,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Stories
1
Total area
13,936 SF
Lot
1.59 ac (69,435 SF)
Zoning code
B-3
APN
16-11-23-129-021
UPID
US43-1207018
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Clinton Township, MIZoning B-3 · permitted uses
B-3 · Clinton Township, MI
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
RETAIL STORES Current
Est. value
$1.7M
RESTAURANT
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES Current
RESTAURANT
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
1999
Heating
FORCED AIR
Stories
1
Lot
1.59 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portf
Individual
Mailing address
1045 S GRATIOT AVE, CLINTON TOWNSHIP, MI 48036-3501
Ownership since
2018
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
Sep 21, 2018
—
Exchangeright Net Leased Portf
Exchangeright Net Leased Portf
Quit Claim Deed
related
$51,435,200 · Bank Of America
Sep 21, 2018
$4,320,000
Exchangeright Net Leased Portf
Rubin Mt Clemens LLC
Grant Deed
$37,307,622 · Bank Of America
Mar 6, 2017
—
Sma Ltd
—
Deed
related
$1,196,244 · Suzanne Rubin
—
—
Rubin Mt Clemens LLC
—
Deed Of Trust
related
$2,550,000 · Northern Tr
—
—
Sma Ltd
—
Deed Of Trust
related
$1,196,244 · Suzanne Rubin
—
—
Exchangeright,net Lease 23 Dst Trust
—
Loan Modification
related
$51,435,200 · Bank Of America
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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