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Property profile & analytics
FOR SALE
Retail space
1250 Library St Detroit, MI 48226
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-1338593
For Sale
1 / 47
$5,900,000
1250 Library St, Detroit, MI 48226
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1907
Total area
32,100 SF
Lot
0.12 ac (5,227 SF)
Zoning code
B5
APN
01004000.
UPID
US43-1338593
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
-
Vicente’s Cuban Cuisine Restaurant
-
Vicente Cuban Cuisine Restaurant
-
Jerome H. Remick Health insurance agency Insurance Agency
-
Library Lofts Apartment Building
-
Fieldstone Properties Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$3.76M
Owner & transaction history
Fieldstone Properties INC · 6 yrs held
Fieldstone Properties INC
since 2019
3 recorded transactions
Zoning & alternative use
B5 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+32.1%
Restaurant
$2.9M
+32.1%
Neighborhood: shopping center
$2.4M
+9.7%
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
COMMERCIAL (GENERAL)
$2,930,000
Change: +32% · Conversion: Easy
RESTAURANT
$2,930,000
Change: +32% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,430,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$3.76M
Range $3.38M – $4.13M · ±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
$117 / 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
$17,145
Tax year 2020
Assessed value
$2,385,300
Assessed 2024
Previous assessed
$2,298,200
+3.8% YoY
Effective rate
0.72%
On assessed value
Total market value
$4,770,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1907
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
32,100 SF
Lot
0.12 ac (5,227 SF)
Zoning code
B5
APN
01004000.
UPID
US43-1338593
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B5 · Detroit, MI
Zoning B5 · permitted uses
B5 · 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
COMMERCIAL (GENERAL)
Est. value
$2.9M
RESTAURANT
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1907
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
Fieldstone Properties INC
Entity
Mailing address
1250 LIBRARY ST, DETROIT, MI 48226-2252
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2019
—
Fieldstone Properties INC
—
Deed
related
$2,400,000 · First State Bank
May 9, 2017
—
Fieldstone Properties INC
—
Deed
related
$600,000 · First St Bk
—
—
Fieldstone Properties INC
—
Loan Modification
related
$600,000 · First St 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.
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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