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Property profile & analytics
OFF-MARKET
Parking lots & garages
112 Walnut Blvd, Rochester, MI 48307-2113
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-4639038
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2015
Total area
89,450 SF
Lot
0.41 ac (17,860 SF)
Zoning code
BI
APN
68-15-15-277-006
UPID
US43-4639038
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
-
First Street Lofts of Rochester Apartment Building
-
The Lenders Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michigan Income Fund 1 LLC · 11 yrs held
Michigan Income Fund 1 LLC
since 2015
7 recorded transactions
Zoning & alternative use
BI · Rochester, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Rochester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2019Property tax & assessments
Tax year 2019
Tax billed
$245,556
Tax year 2019
Assessed value
$5,503,220
Assessed 2020
Previous assessed
$5,503,220
+0.0% YoY
Effective rate
4.46%
On assessed value
Total market value
$11,006,440
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
2015
Heating
FORCED AIR
Buildings
6
Stories
1
Units
1
Total area
89,450 SF
Lot
0.41 ac (17,860 SF)
Zoning code
BI
APN
68-15-15-277-006
UPID
US43-4639038
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Rochester, MI
Zoning BI · permitted uses
BI · Rochester, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rochester. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2015
Heating
FORCED AIR
Stories
1
Buildings
6
Units
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Michigan Income Fund 1 LLC
Entity
Free & Clear · 11 yrs held
Mailing address
31100 TELEGRAPH RD STE #250, BINGHAM FARMS, MI 48025-4346
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2026
—
Michigan Income Fund 1 LLC
—
Deed
related
$9,300,000 · Wells Fargo Bank NA
Jul 3, 2024
—
Michigan Income Fund I LLC
—
Deed
related
$8,600,000 · First Merchants Bank
Aug 20, 2015
—
Michigan Income Fund 1 LLC
—
Deed Of Trust
related
$6,800,000 · Wells Fargo Bk
Apr 6, 2015
—
Michigan Income Fund 1 LLC
First Street Lofts
Warranty Deed
—
Aug 6, 2009
—
First St Lofts Of Rochester LLC
Bartolotta,carl
Quit Claim Deed
related
—
Dec 17, 2008
$275,000
Carl Bartolotta
Lochirco,joseph M & Rosalia
Warranty Deed
—
Jan 22, 2004
—
Joseph M Lochirco
Vancleve,mary L
Grant Deed
related
—
Oct 28, 2003
—
Betty Terrill
Terrill,betty
Quit Claim Deed
related
—
—
—
Joseph M Lochirco
—
Deed Of Trust
related
$300,000 · Private Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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