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Property profile & analytics
FOR LEASE
Retail space
12745 23 Mile Rd, Shelby Township, MI 48315
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US43-1086283
For Lease
1 / 8
$22 SF/Yr
12745 23 Mile Rd, Shelby Township, MI 48315
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2005
Total area
12,532 SF
Lot
1.74 ac (75,794 SF)
Zoning code
LM
APN
23-07-14-400-054
UPID
US43-1086283
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
-
Adelson LASIK Physician Ophthalmologist
-
Kawai Music Lesson Studios Vocational School Training Center
-
Kawai Music Lesson Studios (formerly Evola Music) Music Conservatory Music School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.15M
Blend (final)
Blend
$2.16M
Owner & transaction history
Esem LLC · 21 yrs held
Esem LLC
since 2005
3 recorded transactions
Zoning & alternative use
LM · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+15.0%
Commercial (general)
$1.7M
+12.3%
Office building
$1.7M
+12.3%
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 Shelby Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby Township 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
RETAIL STORES
$1,545,000
Current use
RESTAURANT
$1,775,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,735,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$1,735,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$1,540,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.16M
Range $1.94M – $2.37M · ±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
$172 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$24,305
Tax year 2022
Assessed value
$998,400
Assessed 2023
Previous assessed
$991,500
+0.7% YoY
Effective rate
2.43%
On assessed value
Total market value
$1,996,800
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 Lease
Year built
2005
Heating
FORCED AIR
Stories
1
Total area
12,532 SF
Lot
1.74 ac (75,794 SF)
Zoning code
LM
APN
23-07-14-400-054
UPID
US43-1086283
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LM · Shelby Township, MI
Zoning LM · permitted uses
LM · Shelby Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
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
2005
Heating
FORCED AIR
Stories
1
Lot
1.74 ac
Current owner
From public records · entity-resolved
Esem LLC
Entity
Mailing address
12745 23RD MILE RD, SHELBY TOWNSHIP, MI 48315-2703
Ownership since
2005
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
Dec 16, 2019
—
E S E M LLC
—
Deed
related
$950,000 · The Huntington National Bank
May 25, 2005
$325,000
Esem LLC
C & D Building LLC
Warranty Deed
—
—
—
Esem LLC
—
Deed Of Trust
related
$1,200,000 · Equitrust Life Insurance Co
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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