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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Medical Office Space
15023 21st Mile Rd, Shelby Township, MI 48315-5024
Entity Owned
9-yr Hold
Free & Clear
Property ID
US43-0817073
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Total area
4,685 SF
Lot
1.14 ac (49,658 SF)
Zoning code
O-2
APN
23-07-25-400-022
UPID
US43-0817073
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
-
Kevin Kinney Physician
-
Kyle Mayotte Physician Medical Clinic
-
Paul Friedlander Physician Medical Clinic
-
Malerie Davis Physician
-
Ami Rana Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$862k
Blend (final)
Blend
$860k
Owner & transaction history
Shelby 21 Holdings LLC · 9 yrs held
Shelby 21 Holdings LLC
since 2017
4 recorded transactions
Zoning & alternative use
O-2 · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$650,000
+12.7%
Office building
$650,000
+12.7%
Retail stores
$575,000
+0.4%
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 Shelby Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby Township 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
MEDICAL BUILDING
$575,000
Current use
COMMERCIAL (GENERAL)
$650,000
Change: +13% · Conversion: Easy
OFFICE BUILDING
$650,000
Change: +13% · Conversion: Easy
RETAIL STORES
$575,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$860k
Range $774k – $946k · ±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
$184 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$18,954
Tax year 2022
Assessed value
$425,900
Assessed 2023
Previous assessed
$415,000
+2.6% YoY
Effective rate
4.45%
On assessed value
Total market value
$851,800
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Stories
1
Total area
4,685 SF
Lot
1.14 ac (49,658 SF)
Zoning code
O-2
APN
23-07-25-400-022
UPID
US43-0817073
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
O-2 · Shelby Township, MI
Zoning O-2 · permitted uses
O-2 · Shelby Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$650,000
OFFICE BUILDING
Est. value
$650,000
RETAIL STORES
Est. value
$575,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
2003
Heating
FORCED AIR
Stories
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Shelby 21 Holdings LLC
Entity
Free & Clear · 9 yrs held
Mailing address
16931 19TH MILE RD STE #130, CLINTON TOWNSHIP, MI 48038-4841
Ownership since
2017
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
Dec 23, 2024
—
Shelby 21 Holdings LLC
—
Deed
related
$500,000 · First State Bank
Jun 12, 2017
$675,000
Shelby 21 Holdings LLC
The Huntington National Bank
Deed
—
Jun 28, 2004
—
Republic Bank
Shelby Hayes LLC
Warranty Deed
related
—
Feb 11, 2004
—
Shelby Hayes LLC
Shelby Real Estate Holding LLC
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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