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Property profile & analytics
FOR LEASE
Drug stores
140 Milford Rd Milford, MI 48381-2741
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1215454
For Lease
1 / 6
$3,525,000
140 Milford Rd, Milford, MI 48381-2741
View Listing →
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2007
Total area
14,689 SF
Lot
2.05 ac (89,298 SF)
Zoning code
BI
APN
LM-16-10-376-023
UPID
US43-1215454
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
Current use
Occupant on record · Public records
-
FedEx OnSite Postal Service Courier Service
-
Rashna Chinoy, RPH Pharmacy
-
Deborah Kopinsky, RPH Pharmacy
-
Western Union Bank Credit Union
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.86M
Blend (final)
Blend
$3.53M
Owner & transaction history
Huron Valley State Bank · 2 yrs held
Huron Valley State Bank
since 2024
6 recorded transactions
Zoning & alternative use
BI · Milford, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.6M
+4.4%
Restaurant
$2.5M
+2.6%
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 Milford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milford 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
$2,480,000
Current use
COMMERCIAL (GENERAL)
$2,585,000
Change: +4% · Conversion: Easy
RESTAURANT
$2,545,000
Change: +3% · Conversion: Easy
MEDICAL BUILDING
$2,320,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$3.53M
Range $3.17M – $3.88M · ±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
$240 / 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
$59,499
Tax year 2023
Assessed value
$1,490,510
Assessed 2024
Previous assessed
$1,430,880
+4.2% YoY
Effective rate
3.99%
On assessed value
Total market value
$2,981,020
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
For Lease
Year built
2007
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
14,689 SF
Lot
2.05 ac (89,298 SF)
Zoning code
BI
APN
LM-16-10-376-023
UPID
US43-1215454
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Milford, MIZoning BI · permitted uses
BI · Milford, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.5M
COMMERCIAL (GENERAL)
Est. value
$2.6M
RESTAURANT
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2007
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
2.05 ac
Current owner
From public records · entity-resolved
Huron Valley State Bank
Entity
Free & Clear · 2 yrs held
Mailing address
130 S MILFORD RD, MILFORD, MI 48381-2741
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2024
—
Huron Valley State Bank
Re Services No 32 LLC
Warranty Deed
—
Aug 10, 2007
—
R E Services 32 LLC
Southside Partners I LLC
Warranty Deed
$3,310,000 · Huntington National Bank
Oct 19, 2006
—
Southside Partners I LLC
Village Commons Group LLC
Warranty Deed
related
—
Jan 23, 2003
—
Village Commons Group LLC
Village Commons Group LLC
Quit Claim Deed
related
—
Sep 4, 2001
—
Heyn Trust
Pettibone Properties LLC
Quit Claim Deed
related
$1,000,000 · Old Kent Bank
Mar 31, 2000
—
Pettibone Properties LLC
K Square Realty Corp
Grant Deed
$1,300,000 · Old Kent Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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