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Property profile & analytics
OFF-MARKET
Estimated value
$2,845,000
Schools
11224 Kercheval St, Detroit, MI 48214-3323
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US43-0926045
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1959
Total area
49,497 SF
Lot
1.12 ac (48,787 SF)
Zoning code
R2
APN
21000687.
UPID
US43-0926045
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
$2.84M
Blend (final)
Blend
$2.85M
Owner & transaction history
Charter Dev Co LLC · 17 yrs held
Charter Dev Co LLC
since 2009
1 recorded transaction
Zoning & alternative use
R2 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.5M
+58.9%
Restaurant
$4.5M
+58.8%
Neighborhood: shopping center
$3.8M
+31.9%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$2,845,000
Current use
COMMERCIAL (GENERAL)
$4,520,000
Change: +59% · Conversion: Difficult
RESTAURANT
$4,515,000
Change: +59% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,750,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$3,420,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$3,120,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$3,050,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$2.85M
Range $2.56M – $3.13M · ±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
$57 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$100
Tax year 2020
Applied tax rate
82,010.0000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1959
Heating
FORCED AIR
Buildings
4
Stories
3
Total area
49,497 SF
Lot
1.12 ac (48,787 SF)
Zoning code
R2
APN
21000687.
UPID
US43-0926045
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
R2 · Detroit, MI
Zoning R2 · permitted uses
R2 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$4.5M
RESTAURANT
Est. value
$4.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.8M
RETAIL STORES
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.1M
OFFICE BUILDING
Est. value
$3.1M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
OFFICE 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
1959
Heating
FORCED AIR
Stories
3
Buildings
4
Lot
1.12 ac
Current owner
From public records · entity-resolved
Charter Dev Co LLC
Entity
Mailing address
3850 BROADMOOR AVE SE STE #201, GRAND RAPIDS, MI 49512-3975
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2009
—
Charter Dev Co LLC
—
Deed Of Trust
related
$215,000,000 · National City 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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