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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Warehouses
1340 11th Mile Rd, Madison Heights, MI 48071-3806
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1131339
Property summary
AI-generated overview
This single-tenant industrial property, located at 1340 E Eleven Mile Rd, Madison Heights, MI 48071, offers 6,880 square feet of versatile space ideal for warehouse, distribution, or light industrial uses. The building, constructed in 1957, sits on a 0.8-acre lot (34,848 sq ft) and features a 22-foot ceiling height. The warehouse area exceeds 5,300 square feet, complemented by approximately 1,600 square feet of office space and an additional 1,400 square feet of mezzanine space. Access is convenient with one drive-in door and two 14' x 12' pass-through overhead doors, plus a 10' x 9' overhead door. The property boasts 8 total parking spaces and convenient entrances on both sides of the building. The 159-foot frontage provides ample visibility. The building is classified as Class D and has 400 AMP power. Zoning is designated as Lite Industrial (APN: 25-24-206-038). This property presents a unique opportunity for businesses seeking a functional and well-situated industrial space in Madison Heights. The single-story building offers a straightforward layout and ample space for various operational needs. Its location provides easy access to major transportation routes, enhancing logistical efficiency.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1957
Total area
6,880 SF
Lot
0.4 ac (17,424 SF)
Zoning code
M-1 LT
APN
44-25-24-206-038
UPID
US43-1131339
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
$635k
Comparable Approach
Comparable
$539k
Blend (final)
Blend
$530k
Owner & transaction history
Rgs Group LLC · 3 yrs held
Rgs Group LLC
since 2023
Last sale
$525,000
2 recorded transactions
Zoning & alternative use
M-1 LT · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$845,000
+50.3%
Office building
$805,000
+43.8%
Neighborhood: shopping center
$640,000
+14.1%
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
$600,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$635,000
7%
$590,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$560,000
Current use
AUTO REPAIR, GARAGE
$845,000
Change: +50% · Conversion: Easy
OFFICE BUILDING
$805,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$640,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $525k (Jul 7 2023)
Last sale anchor
$525k
Jul 7 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
$77 / 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
$7,250
Tax year 2023
Assessed value
$244,860
Assessed 2024
Previous assessed
$225,450
+8.6% YoY
Effective rate
2.96%
On assessed value
Total market value
$489,720
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1957
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
6,880 SF
Lot
0.4 ac (17,424 SF)
Zoning code
M-1 LT
APN
44-25-24-206-038
UPID
US43-1131339
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-1 LT · Madison Heights, MI
Zoning M-1 LT · permitted uses
M-1 LT · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$560,000
AUTO REPAIR, GARAGE
Est. value
$845,000
OFFICE BUILDING
Est. value
$805,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$640,000
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1957
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Rgs Group LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5238 BRETT CT, WEST BLOOMFIELD, MI 48322-2135
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2023
$525,000
Rgs Group LLC
Robert A Ternes Revocable Living Tr
Warranty Deed
—
May 13, 2010
—
Ternes Robert A Living Trust
Ternes,robert A & Sue
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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