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Property profile & analytics
OFF-MARKET
Estimated value
$5,535,000
Office buildings
138 Pallister St Detroit, MI 48202-2357
Individually Owned
12-yr Hold
Free & Clear
Property ID
US43-1089968
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1958
Total area
89,916 SF
Lot
0.67 ac (29,185 SF)
Zoning code
B2
APN
02001153-5
UPID
US43-1089968
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
$5.54M
Blend (final)
Blend
$5.54M
Owner & transaction history
Wellness Plan Medical Centers · 12 yrs held
Wellness Plan Medical Centers
since 2014
3 recorded transactions
Zoning & alternative use
B2 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.2M
+48.1%
Restaurant
$8.2M
+48.0%
Neighborhood: shopping center
$6.8M
+22.9%
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
OFFICE BUILDING
$5,540,000
Current use
COMMERCIAL (GENERAL)
$8,210,000
Change: +48% · Conversion: Easy
RESTAURANT
$8,205,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$6,810,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$6,210,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$5,665,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,450,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$5.54M
Range $4.98M – $6.09M · ±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
$62 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$100
Tax year 2020
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1958
Heating
FORCED AIR
Buildings
1
Stories
6
Total area
89,916 SF
Lot
0.67 ac (29,185 SF)
Zoning code
B2
APN
02001153-5
UPID
US43-1089968
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B2 · Detroit, MI
Zoning B2 · permitted uses
B2 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.5M
COMMERCIAL (GENERAL)
Est. value
$8.2M
RESTAURANT
Est. value
$8.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.8M
RETAIL STORES
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$5.7M
AUTO REPAIR, GARAGE
Est. value
$5.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1958
Heating
FORCED AIR
Stories
6
Buildings
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
Wellness Plan Medical Centers
Individual
Free & Clear · 12 yrs held
Mailing address
7700 2ND AVE, DETROIT, MI 48202-2477
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
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
Jun 4, 2020
—
Wellness Plan Medical Centers
—
Deed
related
$2,400,000 · Pnc Bk
Mar 28, 2014
—
Wellness Plan Medical Centers
Wellness Plan
Quit Claim Deed
related
—
—
—
Wellness Plan Medical Centers
—
Deed Of Trust
related
$2,400,000 · Pnc Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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