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Property profile & analytics
OFF-MARKET
Estimated value
$1,445,000
Day care centers
1401 Malcolm Dr, Waterford, MI 48327-4186
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US43-0551761
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
2004
Total area
12,302 SF
Lot
1.2 ac (52,272 SF)
Zoning code
BI
APN
W -13-31-376-093
UPID
US43-0551761
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
$1.70M
Blend (final)
Blend
$1.45M
Owner & transaction history
Andrikides Land Co LLC · 16 yrs held
Andrikides Land Co LLC
since 2009
4 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+40.5%
Restaurant
$2.1M
+26.6%
Medical building
$1.9M
+15.4%
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 Waterford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterford 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$1,680,000
Current use
COMMERCIAL (GENERAL)
$2,365,000
Change: +40% · Conversion: Difficult
RESTAURANT
$2,130,000
Change: +27% · Conversion: Difficult
MEDICAL BUILDING
$1,940,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.30M – $1.59M · ±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
$117 / 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
$28,053
Tax year 2023
Assessed value
$683,570
Assessed 2024
Previous assessed
$670,600
+1.9% YoY
Effective rate
4.10%
On assessed value
Total market value
$1,367,140
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
2004
Heating
YES
Stories
1
Units
1
Total area
12,302 SF
Lot
1.2 ac (52,272 SF)
Zoning code
BI
APN
W -13-31-376-093
UPID
US43-0551761
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Waterford, MI
Zoning BI · permitted uses
BI · Waterford, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waterford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RESTAURANT
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE 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
2004
Heating
YES
Stories
1
Units
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
Andrikides Land Co LLC
Entity
Mailing address
1401 MALCOLM DR, WATERFORD, MI 48327-4186
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2009
$1,750,000
Andrikides Land Co LLC
Kamion Dev LLC
Warranty Deed
$1,575,000 · Clarkston State Bank
Apr 14, 2004
$150,000
Walter Pytiak & Co
Richards,jack M & Margie L
Grant Deed
—
Apr 9, 2004
—
Kamion Development LLC
Walter Pytiak & Co
Quit Claim Deed
related
$1,648,000 · Clarkston State Bank
Apr 11, 2003
—
Walter Pytiak & Co
Obrien,tr
Grant 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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