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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Warehouses
1423 Franklin St, Detroit, MI 48207-4003
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0320828
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1916
Total area
21,166 SF
Lot
0.13 ac (5,663 SF)
Zoning code
SD4
APN
07000031.
UPID
US43-0320828
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
-
Ait Systems Inc (Bike/Boat/Book/etc) Store Corporate Office
-
Acrolab Limited Industrial Manufacturer Factory
-
Your Personal Vault Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$579k
Blend (final)
Blend
$565k
Owner & transaction history
Regency Mhc Holdings LLC · 1 yrs held
Regency Mhc Holdings LLC
since 2024
6 recorded transactions
Zoning & alternative use
SD4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$680,000
Current use
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$27 / 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
$5,732
Tax year 2023
Assessed value
$189,200
Assessed 2024
Previous assessed
$189,200
+0.0% YoY
Effective rate
3.03%
On assessed value
Total market value
$378,400
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1916
Heating
FORCED AIR
Buildings
1
Stories
4
Total area
21,166 SF
Lot
0.13 ac (5,663 SF)
Zoning code
SD4
APN
07000031.
UPID
US43-0320828
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
SD4 · Detroit, MI
Zoning SD4 · permitted uses
SD4 · 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
WAREHOUSE, STORAGE Current
Est. value
$680,000
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
1916
Heating
FORCED AIR
Stories
4
Buildings
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Regency Mhc Holdings LLC
Entity
Mailing address
40 N 4TH ST, CARBONDALE, CO 81623-2012
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
Aug 1, 2024
—
Regency Mhc Holdings LLC
Regency Of Michigan INC
Deed
$85,000,000 · Citi Real Estate Funding INC
Dec 3, 2014
—
Regency Of Michigan INC
—
Loan Modification
related
$63,000,000 · Jefferies Loancore
Aug 27, 2014
—
Regency Of Michigan INC
—
Grant Deed
related
$63,000,000 · Jefferies Loancore
Nov 5, 2010
—
Regency Of Michigan INC
—
Deed Of Trust
related
$68,069,613 · Sunamerica Life Insurance Co
Apr 1, 2009
$1,500,000
Regency Of Michigan INC
Corbett,john & Jacquelyn W
Warranty Deed
—
Feb 5, 2009
—
Regency Of Michigan INC
Your Personal Vault Self-stora
Quit Claim 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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