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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Individual retail properties
134 Main St, Rochester, MI 48307-2028
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1493638
Property summary
AI-generated overview
This exceptional 3,240 square foot industrial building is ideally situated in the heart of downtown Rochester, Michigan. Its prime location offers unparalleled visibility, being the second building north of the Clinton River Bridge on South Main Street. Constructed of solid brick, this property boasts a substantial full basement, providing ample storage or additional workspace. The 0.21-acre lot offers convenient access and potential for expansion. The building's versatile layout presents endless possibilities for a variety of businesses. Its strong construction and desirable location make it an attractive investment opportunity. The asking price is $800,000. Note that land contract terms are available for qualified buyers, offering a flexible financing option. This is a rare opportunity to acquire a well-built, highly visible industrial property in a thriving downtown area. Don't miss out on this chance to establish your business in a prime location with significant potential for growth and success. Serious inquiries only.
Property profile
Verified
Property type
Individual retail properties
Use group
DRY CLEANER
Year built
1970
Total area
3,240 SF
Lot
0.21 ac (9,148 SF)
Zoning code
BI
APN
68-15-14-151-003
UPID
US43-1493638
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
$698k
Blend (final)
Blend
$655k
Owner & transaction history
134 S Main Street Holdings LLC
134 S Main Street Holdings LLC
since 2025
Last sale
$625,000
3 recorded transactions
Zoning & alternative use
BI · Rochester, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$965,000
+84.7%
Retail stores
$545,000
+4.8%
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 Rochester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester 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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$520,000
Current use
COMMERCIAL (GENERAL)
$965,000
Change: +85% · Conversion: Difficult
RETAIL STORES
$545,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$510,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $625k (Jun 8 2025)
Last sale anchor
$625k
Jun 8 2025
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
$202 / 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
$12,513
Tax year 2023
Assessed value
$404,810
Assessed 2024
Previous assessed
$379,860
+6.6% YoY
Effective rate
3.09%
On assessed value
Total market value
$809,620
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
Individual retail properties
Use group
DRY CLEANER
Status
Off-Market
Year built
1970
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
3,240 SF
Lot
0.21 ac (9,148 SF)
Zoning code
BI
APN
68-15-14-151-003
UPID
US43-1493638
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Rochester, MI
Zoning BI · permitted uses
BI · Rochester, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rochester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$520,000
COMMERCIAL (GENERAL)
Est. value
$965,000
RETAIL STORES
Est. value
$545,000
MEDICAL BUILDING
Est. value
$510,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1970
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
134 S Main Street Holdings LLC
Entity
Free & Clear · 0 yrs held
Mailing address
821 S ELISEO DR, GREENBRAE, CA 94904-2114
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Sep 8, 2025
$625,000
134 S Main Street Holdings LLC
Rhee Rhee Choiho
Warranty Deed
—
Aug 16, 2012
$415,000
Choiho Rhee
Rewold Reta M
Warranty Deed
—
Nov 4, 1998
—
Cholho Rhee
Rewold,walter L & Reta M
Grant 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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