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Property profile & analytics
FOR LEASE
Grocery and convenience stores
12421 Hayes St Detroit, MI 48205
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1491092
For Lease
1 / 9
Contact for pricing
12421 Hayes St, Detroit, MI 48205
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1950
Total area
13,600 SF
Lot
0.42 ac (18,295 SF)
Zoning code
B3
APN
21056671-81
UPID
US43-1491092
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
-
Dollar General Grocery & Convenience Store
-
Western Union Bank Credit Union
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
Hayes Property Holdings LLC · 7 yrs held
Hayes Property Holdings LLC
since 2018
6 recorded transactions
Zoning & alternative use
B3 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7…
Zone name
Shopping District
General category
COMMERCIAL
Zone area
200.46 ac
Source
code of ordinances
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
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 2020Property tax & assessments
Tax year 2020
Tax billed
$8,711
Tax year 2020
Assessed value
$143,300
Assessed 2024
Previous assessed
$123,900
+15.7% YoY
Effective rate
6.08%
On assessed value
Total market value
$286,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1950
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
13,600 SF
Lot
0.42 ac (18,295 SF)
Zoning code
B3
APN
21056671-81
UPID
US43-1491092
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B3 · Detroit, MIZoning B3 · permitted uses
B3 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Distric
Zone name
Shopping District
General category
COMMERCIAL
Zone area
200.46 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1950
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Hayes Property Holdings LLC
Entity
Free & Clear · 7 yrs held
Mailing address
24500 NORTHWESTERN HWY STE #100, SOUTHFIELD, MI 48075-2402
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Jul 6, 2021
—
Hayes Property Holdings LLC
—
Deed
related
—
Oct 31, 2018
—
Hayes Property Holdings LLC
Detroit Dg LLC
Grant Deed
—
Jun 27, 2016
—
Detroit Dg LLC
—
Deed
related
$1,925,000 · Sterling Bk
Jun 26, 2013
—
Attisha Land Investments LLC
Kallabat,sabah
Warranty Deed
—
Jun 26, 2013
$841,500
Detroit Dg LLC
Attisha Land Investments LLC
Warranty Deed
$673,200 · Sterling Bank
—
—
Detroit Dg LLC
—
Deed Of Trust
related
$1,925,000 · Sterling Bk
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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