Entity Owned Owner of record is a legal entity (LLC / corporation).
11-yr Hold Held for 11 years.
Absentee Owner Owner mailing address differs from the property address.
Free & Clear No active or open recorded mortgage detected.
Entity Owned 
For Lease
1 / 3
$8 SF/Yr
124 Merriman Rd, Westland, MI 48186
View Listing
Ownership intelligence
Who controls the opportunity?
Resolved identity, portfolio, hold profile and investor signals. Included in the full report.
Owner contacts
Can we reach the decision maker?
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
What is owed, to whom, and when it comes due
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
What does the county charge?
$87k
Tax billed · 2023
Assessed value · 2024$1.86M
Effective rate4.69%
Value estimate
· Sep 2026$4.32M
$3.89M – $4.75M
Sales comparison$4.32M
NOI build-up
Gross scheduled income$437k
Vacancy & credit loss−$26k
Operating expenses−$123k
NOI · 3,597,137.50% cap applied$288k
Realmo valuation models over county records.
Recently sold
What actually traded nearby?
$80/SF
County average, outlier-cleaned · 116 recorded sales of this use type
Observed band · Q1–Q3$48 – $108
Cap rate analysis
How does the asset earn?
3,597,137.50%
$288k estimated NOI · market benchmarks for this use type
Price anchors at 6 / 6.5 / 7% — in the full report.
Zoning insight
No data for this sectionWhat can be built here?
No zoning code is on file for this parcel. Coverage grows with every catalog release.
JurisdictionWAYNE
Location intelligence
Which uses thrive at this corner?
Best fit: Law Firm
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Law Firm35.2
Realty agency30.8
Restaurant22.9
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
✓ County assessor
✓ Recorded deeds · 3 transfers
– Qualifying comp sales · not on file
– Zoning catalog · not on file
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 17 properties nearbyRecent sales nearby
6 recorded sales in this ZIP, last 8 years
Address
Sale price
Sold
Size
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
Comparable nearby
Similar in This City for Sale
Similar in This City for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.32M
Value range
$3.89M – $4.75M
±10% around blend
Estimated value / SF
$87 / SF
Confidence
Property data
88
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$3.89M
blend $4.32M
$4.75M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
49,454 SF
Lot area
5.58 ac
Year built
1977
Stories
1
APN
56 065 99 0001 722
Assessed value · 2024
$1,859,100
Annual tax · 2023
$87,114
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax · 2023
$87,114
Selected cap rate
4
Comparable sales
Partial preview
Comparables picked and weighted for this valuation. The Overview tab lists recorded sales nearby as our records hold them, unweighted and unselected, so the two do not have to agree.
Sales approach indication
$4.32M
Range $2.38M – $5.35M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)
Average
Subject delta
County 116 sales
$80
+10%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $87/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+67%
vs current use, $3.94M
Auto Repair, Garage
Retail Stores
Medical Building
Neighborhood: Shopping Center · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.11M
Move the market yield to see immediate price impact.
Value / SF
$83
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$259k
$5.18M
$3.70M
$2.88M
$288k
$5.76M
$4.11M
$3.20M
$317k
$6.33M
$4.52M
$3.52M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Building & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1977
Heating
FORCED AIR
Stories
1
Total area
49,454 SF
Lot
5.58 ac (243,065 SF)
APN
56 065 99 0001 722
UPID
US43-1105668
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Property tax & assessments
Tax year 2023
Tax billed
$87,114
Assessed value
$1,859,100
Assessed 2024
Previous assessed
$1,681,100
+10.6% YoY
Effective rate
4.69%
On assessed value
Total market value
$3,718,200
Applied tax rate
82,160.0000
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Owner Contacts
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Mortgages · part of Ownership Intelligence
See what the owner owes, and when it comes due.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
What opens after registration
Ownership report
Recorded loansLender, amount and origination for every instrument
Estimated maturityWhen the debt comes due and the refi window opens
Rates & liensRecorded or estimated rate, junior liens flagged
CollateralWhich holding secures each loan - this property marked
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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