New search
Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Warehouses
1515 Bonner St, Ferndale, MI 48220-1973
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1477547
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2016
Total area
13,891 SF
Lot
0.39 ac (16,988 SF)
Zoning code
II
APN
24-25-35-103-017
UPID
US43-1477547
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
$727k
Blend (final)
Blend
$720k
Owner & transaction history
Garden Fresh Gourmet R & E LLC · 7 yrs held
Garden Fresh Gourmet R & E LLC
since 2019
7 recorded transactions
Zoning & alternative use
II · Ferndale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+135.2%
Medical building
$875,000
+95.6%
Office building
$855,000
+91.4%
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 Ferndale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ferndale 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
$445,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,050,000
Change: +135% · Conversion: Moderate
MEDICAL BUILDING
$875,000
Change: +96% · Conversion: Difficult
OFFICE BUILDING
$855,000
Change: +91% · Conversion: Difficult
Blend value · Realmo final
$720k
Range $648k – $792k · ±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
$52 / 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
$26,587
Tax year 2023
Assessed value
$430,940
Assessed 2024
Previous assessed
$402,900
+7.0% YoY
Effective rate
6.17%
On assessed value
Total market value
$861,880
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2016
Heating
SPACE
Stories
1
Units
1
Total area
13,891 SF
Lot
0.39 ac (16,988 SF)
Zoning code
II
APN
24-25-35-103-017
UPID
US43-1477547
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Ferndale, MI
Zoning II · permitted uses
II · Ferndale, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ferndale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$445,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$875,000
OFFICE BUILDING
Est. value
$855,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE 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
2016
Heating
SPACE
Stories
1
Units
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Garden Fresh Gourmet R & E LLC
Entity
Free & Clear · 7 yrs held
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2019
—
Garden Fresh Gourmet R & E LLC
Garden Fresh Gourmet LLC
Quit Claim Deed
—
Jul 16, 2015
—
Garden Fresh Gourmet LLC
Aronson Props LLC
Warranty Deed
—
Jan 8, 2014
—
Aronson Properties LLC
Seeger C J Living Trust
Grant Deed
—
Mar 8, 2013
$55,000
Taylor,grace E Trust
Nu Engineering INC
Warranty Deed
—
Mar 8, 2013
—
Seeger,clifford J Living Trust
Seeger,clifford H & Grace E
Quit Claim Deed
related
—
Feb 13, 2013
—
Aronson Properties LLC
Seeger Clifford J Trust
Grant Deed
related
—
Mar 24, 2005
—
Seeger Clifford J Trust
Seeger,clifford J & Beverly J
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1515 Bonner St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
