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Property profile & analytics
OFF-MARKET
Estimated value
$1,950,000
Super regional malls
1270 Commerce Rd, Walled Lake, MI 48390-3008
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-1827317
Property summary
AI-generated overview
Jonna's Pennylake Plaza, located at 1270 S Commerce Rd, Walled Lake, MI 48390, offers a prime opportunity to lease 1,300 square feet of traditional office space. This single-tenant space is part of a larger 77,131 square foot building situated on 1.77 acres of land. The property enjoys a convenient location at the intersection of Pontiac Trail and Commerce Road, within the Commerce submarket cluster of Walled Lake. The building is zoned for General Commercial use. This retail and office space is ideal for businesses seeking a well-located presence in a thriving community. Exterior upgrades are planned for Summer 2024, enhancing the property's curb appeal and overall value. The property's location in the Walled Lake submarket provides excellent access to local amenities and a strong customer base. This is a rare opportunity to secure office space in a well-maintained building with planned improvements. Contact us today to learn more about leasing this exceptional space.
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1982
Total area
16,465 SF
Lot
1.77 ac (77,101 SF)
Zoning code
BI
APN
92-17-26-307-048
UPID
US43-1827317
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
-
Jonna’s PennyLake Market Grocery & Convenience Store Food Market
-
Penny Lake Marketplace Grocery & Convenience Store Food Market
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.51M
Blend (final)
Blend
$1.95M
Owner & transaction history
Ejb Realty Investments LLC · 2 yrs held
Ejb Realty Investments LLC
since 2023
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
BI · Walled Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.9M
+89.3%
Restaurant
$2.9M
+86.0%
Retail stores
$2.8M
+81.4%
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 Walled Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Walled Lake 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
$2,290,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,530,000
Current use
COMMERCIAL (GENERAL)
$2,900,000
Change: +89% · Conversion: Easy
RESTAURANT
$2,850,000
Change: +86% · Conversion: Difficult
RETAIL STORES
$2,780,000
Change: +81% · Conversion: Easy
MEDICAL BUILDING
$2,600,000
Change: +70% · Conversion: Difficult
OFFICE BUILDING
$2,560,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,020,000
Change: +32% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,335,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.76M – $2.15M · ±10% · vs last sale $2.00M (Sep 26 2023)
Last sale anchor
$2.00M
Sep 26 2023
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
$118 / 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
Tax billed
$35,341
Tax year 2023
Assessed value
$719,940
Assessed 2024
Previous assessed
$681,430
+5.7% YoY
Effective rate
4.91%
On assessed value
Total market value
$1,439,880
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1982
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
16,465 SF
Lot
1.77 ac (77,101 SF)
Zoning code
BI
APN
92-17-26-307-048
UPID
US43-1827317
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Walled Lake, MI
Zoning BI · permitted uses
BI · Walled Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Walled Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.9M
RESTAURANT
Est. value
$2.9M
RETAIL STORES
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1982
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.77 ac
Current owner
From public records · entity-resolved
Ejb Realty Investments LLC
Entity
Mailing address
1270 S COMMERCE RD, WALLED LAKE, MI 48390-3008
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2026
—
Ejb Realty Investments LLC
—
Deed
related
$2,728,000 · Dfcu Financial
Dec 10, 2025
—
Ejb Realty Investments LLC
—
Deed
related
$922,000 · Dfcu Financial
Sep 26, 2023
$2,000,000
Ejb Realty Investments LLC
Penny Lake Properties LLC
Warranty Deed
$3,744,000 · First Internet Bank Of Indiana
Feb 22, 2022
—
Penny Lake Properties LLC
—
Deed
related
$1,599,000 · Financial Plus Cu
Jun 26, 2018
$1,500,000
Penny Lake Properties LLC
Comm-trail K Properties LLC
Warranty Deed
$1,500,000 · 313 Fund LLC
Jun 22, 2018
—
Comm-trail K LLC
Comm-trail Properties LLC
Quit Claim Deed
related
—
Jul 29, 2014
—
Comm-trail Properties LLC
Comm-trail Properties
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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