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Property profile & analytics
OFF-MARKET
Estimated value
$2,335,000
Drug stores
15121 24th Mile Rd, Shelby Township, MI 48315-2109
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-1131637
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Total area
13,041 SF
Lot
1.93 ac (84,071 SF)
Zoning code
CK MAP
APN
23-07-12-400-048
UPID
US43-1131637
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
-
CVS Pharmacy Pharmacy
-
UPS Access Point location Courier Service Postal Service
-
MoneyGram Bank Credit Union
-
Coinhub Bitcoin ATM Teller Atm
-
Citizens ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$2.34M
Owner & transaction history
24 Mile Road LLC · 3 yrs held
24 Mile Road LLC
since 2022
2 recorded transactions
Zoning & alternative use
CK MAP · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+15.0%
Commercial (general)
$1.8M
+12.3%
Office building
$1.8M
+12.3%
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
RETAIL STORES
$1,605,000
Current use
RESTAURANT
$1,850,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,805,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$1,805,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$1,600,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.34M
Range $2.10M – $2.57M · ±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
$179 / 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
$45,639
Tax year 2022
Assessed value
$1,083,300
Assessed 2023
Previous assessed
$1,083,300
+0.0% YoY
Effective rate
4.21%
On assessed value
Total market value
$2,166,600
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
Off-Market
Year built
2008
Heating
FORCED AIR
Stories
1
Total area
13,041 SF
Lot
1.93 ac (84,071 SF)
Zoning code
CK MAP
APN
23-07-12-400-048
UPID
US43-1131637
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
CK MAP · Shelby Township, MI
Zoning CK MAP · permitted uses
CK MAP · 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
RETAIL STORES Current
Est. value
$1.6M
RESTAURANT
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2008
Heating
FORCED AIR
Stories
1
Lot
1.93 ac
Current owner
From public records · entity-resolved
24 Mile Road LLC
Entity
Mailing address
1109 NE LAVENDER CIR, WESTON, FL 33327-2437
Ownership since
2022
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
Dec 5, 2022
—
24 Mile Road LLC
Notting Hill Village LLC
Deed
$3,975,000 · Bank Of America NA
Jun 10, 2015
—
Notting Hill LLC
Nottinghill Village LLC
Intrafamily Transfer
related
$4,000,000 · Exception - Lender Not On Table
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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