New search
Property profile & analytics
OFF-MARKET
Estimated value
$1,790,000
Drug stores
13500 19th Mile Rd, Sterling Heights, MI 48313-1980
Entity Owned
Free & Clear
Property ID
US43-1074410
Property summary
AI-generated overview
This 10,686 square foot former Rite Aid building, situated on a 1.56-acre lot in Macomb County, Michigan, presents a unique opportunity for retail businesses. The property boasts ample parking, easily accommodating the high volume of traffic at the intersection of 19 Mile and Schoenherr Roads, which sees over 55,000 vehicles daily. The building is currently entirely vacant, offering a blank canvas for a new tenant. Its convenient location, just 1.6 miles west of the 361-bed Henry Ford Macomb Hospital and south of Hall Road's vibrant shopping and entertainment district, ensures high visibility and accessibility. Nearby national retailers include Kroger, Kohl's, Hobby Lobby, Total Wine & More, Target, Shake Shack, and Portillo's, creating a strong retail environment. The property features a drive-thru, adding further convenience and appeal. The traffic-controlled intersection provides easy ingress and egress to both 19 Mile and Schoenherr Roads. This prime retail location offers significant potential for a variety of businesses seeking high visibility and a strong customer base. The entire 10,686 square feet is available for lease.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1998
Total area
10,686 SF
Lot
1.56 ac (67,954 SF)
Zoning code
C-1
APN
10-10-11-226-022
UPID
US43-1074410
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
$1.79M
Blend (final)
Blend
$1.79M
Owner & transaction history
SCHOENHERR & 19 ASSOCIATES INC
SCHOENHERR & 19 ASSOCIATES INC
Zoning & alternative use
C-1 · Sterling Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+80.5%
Restaurant
$1.5M
+35.9%
Medical building
$1.3M
+17.7%
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 Sterling Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sterling 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
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
$1,115,000
Current use
COMMERCIAL (GENERAL)
$2,010,000
Change: +81% · Conversion: Easy
RESTAURANT
$1,515,000
Change: +36% · Conversion: Easy
MEDICAL BUILDING
$1,310,000
Change: +18% · Conversion: Difficult
OFFICE BUILDING
$1,265,000
Change: +13% · Conversion: Easy
Blend value · Realmo final
$1.79M
Range $1.61M – $1.97M · ±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
$168 / 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
$28,833
Tax year 2022
Assessed value
$711,300
Assessed 2023
Previous assessed
$666,000
+6.8% YoY
Effective rate
4.05%
On assessed value
Total market value
$1,422,600
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Stories
1
Total area
10,686 SF
Lot
1.56 ac (67,954 SF)
Zoning code
C-1
APN
10-10-11-226-022
UPID
US43-1074410
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C-1 · Sterling Heights, MI
Zoning C-1 · permitted uses
C-1 · Sterling Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sterling Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RESTAURANT
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
OFFICE 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
1998
Heating
FORCED AIR
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
SCHOENHERR & 19 ASSOCIATES INC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 8431, HARRISBURG, PA 17105-8431
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
You own 13500 19th Mile Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
