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Property profile & analytics
OFF-MARKET
Estimated value
$14,695,000
Outlet malls
14900 Dix Toledo Rd Southgate, MI 48195-2580
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US43-0815055
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2010
Total area
187,000 SF
Lot
16.81 ac (732,244 SF)
Zoning code
C-3 THOROFARE
APN
53 016 99 0050 002
UPID
US43-0815055
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
-
Minute Key Locksmith (Bike/Boat/Book/etc) Store
-
Subway Take-out & Catering
-
Walmart Home Theater Installation Electrical Service General Contractor
-
Walmart Patio & Garden Services Landscaping General Contractor
-
Walmart House Cleaning Services Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.69M
Blend (final)
Blend
$14.70M
Owner & transaction history
Wachovia Bank NA · 20 yrs held
Wachovia Bank NA
since 2005
2 recorded transactions
Zoning & alternative use
C-3 THOROFARE · Southgate, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$20.5M
+44.2%
Restaurant
$19.4M
+36.0%
Office building
$18.2M
+27.5%
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 Southgate submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southgate 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
$14,240,000
Current use
COMMERCIAL (GENERAL)
$20,540,000
Change: +44% · Conversion: Easy
RESTAURANT
$19,365,000
Change: +36% · Conversion: Easy
OFFICE BUILDING
$18,160,000
Change: +28% · Conversion: Easy
MEDICAL BUILDING
$17,610,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$14,880,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$13,415,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$14.70M
Range $13.23M – $16.16M · ±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
$79 / 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
$340,452
Tax year 2023
Assessed value
$4,634,700
Assessed 2024
Previous assessed
$4,336,300
+6.9% YoY
Effective rate
7.35%
On assessed value
Total market value
$9,269,400
Applied tax rate
82,405.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2010
Heating
FORCED AIR
Stories
1
Total area
187,000 SF
Lot
16.81 ac (732,244 SF)
Zoning code
C-3 THOROFARE
APN
53 016 99 0050 002
UPID
US43-0815055
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-3 THOROFARE · Southgate, MIZoning C-3 THOROFARE · permitted uses
C-3 THOROFARE · Southgate, 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
$14.2M
COMMERCIAL (GENERAL)
Est. value
$20.5M
RESTAURANT
Est. value
$19.4M
OFFICE BUILDING
Est. value
$18.2M
MEDICAL BUILDING
Est. value
$17.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.9M
AUTO REPAIR, GARAGE
Est. value
$13.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2010
Heating
FORCED AIR
Stories
1
Lot
16.81 ac
Current owner
From public records · entity-resolved
Wachovia Bank NA
Entity
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 14, 2005
—
Wachovia Bank NA
Jp Morgan Trust Company N
Grant Deed
—
—
—
Jp Morgan Trust Company NA
—
Deed Of Trust
related
$6,947,623 · Pseg Resources LLC
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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