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Property profile & analytics
OFF-MARKET
Estimated value
$2,380,000
Office buildings
1255 State Fair, Highland Park, MI 48203-1237
Entity Owned
10-yr Hold
Free & Clear
Property ID
US43-1668262
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1928
Total area
38,658 SF
Lot
2.71 ac (118,048 SF)
Zoning code
R2
APN
09008111-2
UPID
US43-1668262
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
$2.38M
Blend (final)
Blend
$2.38M
Owner & transaction history
City Of Detroit · 10 yrs held
City Of Detroit
since 2015
1 recorded transaction
Zoning & alternative use
R2 · Highland Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.5M
+48.1%
Restaurant
$3.5M
+48.0%
Neighborhood: shopping center
$2.9M
+22.9%
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 Highland Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland Park 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
OFFICE BUILDING
$2,385,000
Current use
COMMERCIAL (GENERAL)
$3,530,000
Change: +48% · Conversion: Easy
RESTAURANT
$3,525,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,930,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$2,670,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$2,435,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,345,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$2.38M
Range $2.14M – $2.62M · ±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
$62 / 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 2023Property tax & assessments
Tax year 2023
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1928
Heating
FORCED AIR
Buildings
6
Stories
1
Total area
38,658 SF
Lot
2.71 ac (118,048 SF)
Zoning code
R2
APN
09008111-2
UPID
US43-1668262
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
R2 · Highland Park, MI
Zoning R2 · permitted uses
R2 · Highland Park, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Highland Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$3.5M
RESTAURANT
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
RETAIL STORES
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1928
Heating
FORCED AIR
Stories
1
Buildings
6
Lot
2.71 ac
Current owner
From public records · entity-resolved
City Of Detroit
Entity
Free & Clear · 10 yrs held
Mailing address
2 WOODWARD AVE RM #808, DETROIT, MI 48226-3460
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2015
—
City Of Detroit
Detroit Public Schools
Quit Claim Deed
related
—
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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