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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Warehouses
1350 Michigan Ave Detroit, MI 48226-1019
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1195527
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1900
Total area
20,045 SF
Lot
0.25 ac (10,890 SF)
Zoning code
B4
APN
06000414.
UPID
US43-1195527
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
$535k
Blend (final)
Blend
$525k
Owner & transaction history
Corktown Dev LLC · 10 yrs held
Corktown Dev LLC
since 2016
7 recorded transactions
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61…
Zone name
General Business District
General category
COMMERCIAL
Zone area
3,533.46 ac
Source
code of ordinances
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
WAREHOUSE, STORAGE
$645,000
Current use
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$26 / 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
$7,289
Tax year 2023
Assessed value
$174,700
Assessed 2024
Previous assessed
$174,700
+0.0% YoY
Effective rate
4.17%
On assessed value
Total market value
$349,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1900
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
20,045 SF
Lot
0.25 ac (10,890 SF)
Zoning code
B4
APN
06000414.
UPID
US43-1195527
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MIZoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are as follows: (1) B1 Restricted Business District. (2) B2 Local Business and Residential District. (3) B3 Shopping District. (4) B4 General Business District. (5) B5 Major Business District. (6) B6 General Services District. (Code 1984, § 61-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts w
Zone name
General Business District
General category
COMMERCIAL
Zone area
3,533.46 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$645,000
WAREHOUSE, STORAGE Current
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
1900
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Corktown Dev LLC
Entity
Free & Clear · 10 yrs held
Mailing address
1300 BROADWAY ST #600, DETROIT, MI 48226-2202
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2016
—
Corktown Dev LLC
1350/1364 Michigan Avenue LLC
Warranty Deed
—
Nov 5, 2015
$1,111,278
1350/1364 Michigan Avenue LLC
Deputy Sheriff Of Wayne County|spaulding Electric
Trustees Deed
related
—
May 13, 2015
—
Gerald Selman
Tax Code Revenue Recovery Agcy
Quit Claim Deed
related
—
May 12, 2015
—
Spaulding Electric Co LLC
Seco-one INC
Quit Claim Deed
related
—
Jun 26, 2014
—
Gerald Selman
Selman,gerald
Quit Claim Deed
related
—
May 1, 2014
—
Tax Code Revenue Recovery Agcy
Selman,gerald
Quit Claim Deed
related
—
Feb 25, 2014
—
Gerald Selman
Tax Code Revenue Recovery Agcy
Warranty Deed
—
Sep 18, 2013
$25,000
Tax Code Revenue Recovery Agcy
Planning & Dev Authority Of Detro
Grant Deed
—
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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