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Property profile & analytics
OFF-MARKET
Estimated value
$3,075,000
Warehouses
1525 Wanda St, Ferndale, MI 48220-2020
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1360346
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1970
Total area
59,534 SF
Lot
1.89 ac (82,328 SF)
Zoning code
II
APN
24-25-35-126-018
UPID
US43-1360346
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
$3.12M
Blend (final)
Blend
$3.08M
Owner & transaction history
Extra Space Properties Two LLC · 1 yrs held
Extra Space Properties Two LLC
since 2024
7 recorded transactions
Zoning & alternative use
II · Ferndale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.5M
+135.2%
Medical building
$3.8M
+95.6%
Office building
$3.7M
+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
$1,920,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,510,000
Change: +135% · Conversion: Moderate
MEDICAL BUILDING
$3,750,000
Change: +96% · Conversion: Difficult
OFFICE BUILDING
$3,670,000
Change: +91% · Conversion: Difficult
Blend value · Realmo final
$3.08M
Range $2.77M – $3.38M · ±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
$85,365
Tax year 2023
Assessed value
$1,505,740
Assessed 2024
Previous assessed
$1,397,050
+7.8% YoY
Effective rate
5.67%
On assessed value
Total market value
$3,011,480
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
1970
Heating
GAS
Cooling
YES
Stories
1
Units
1
Total area
59,534 SF
Lot
1.89 ac (82,328 SF)
Zoning code
II
APN
24-25-35-126-018
UPID
US43-1360346
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
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.7M
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
1970
Heating
GAS
Cooling
Yes
Stories
1
Units
1
Lot
1.89 ac
Current owner
From public records · entity-resolved
Extra Space Properties Two LLC
Entity
Mailing address
2795 E COTTONWOOD PKWY STE #200, SALT LAKE CITY, UT 84121-7032
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2024
—
Extra Space Properties Two LLC
Seh Ferndale LLC
Warranty Deed
—
Oct 13, 2021
—
Seh Ferndale LLC
—
Deed
related
$4,500,000 · Horizon Bank
Sep 24, 2021
—
Seh Femdale LLC
1231 Properties LLC
Warranty Deed
—
Feb 5, 2015
$1,150,000
1231 Properties LLC
Ejv Properties LLC
Warranty Deed
—
Apr 27, 2005
—
Ejv Properties LLC
Kar Nut Products
Warranty Deed
$2,425,000 · Comerica Bank
—
—
Ejv Properties LLC
—
Deed Of Trust
related
$1,173,500 · Comerica Bank
—
—
Kar Nut Products Co
—
Deed Of Trust
related
$15,000,000 · Comerica Bank
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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