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Property profile & analytics
OFF-MARKET
Estimated value
$1,585,000
Strip malls
1529 Wayne Rd, Westland, MI 48186-5436
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1754320
Property summary
AI-generated overview
Ace Plaza, located at 1529 S Wayne Rd, Westland, MI 48186, presents a compelling value-add opportunity for investors. This single-story, 21,819 square foot retail center, built in 1958, sits on a 1.76-acre lot and boasts 320 feet of frontage on Wayne Road. The property features 10,275 square feet of net rentable space, currently generating income, with significant upside potential through renovations and lease-up. The asking price is $1,650,000, translating to $75.62 per square foot. The property is zoned CB1 and includes 111 parking spaces, catering to both tenants and customers. Its location within a densely populated neighborhood, alongside a mix of national and regional tenants, ensures a strong retail trade area. The property's APN is 56-063-02-0007-000. This is an exceptional chance to acquire a well-situated retail center with substantial growth potential in a thriving Michigan market.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1958
Total area
21,868 SF
Lot
1.76 ac (76,666 SF)
APN
56 063 02 0007 000
UPID
US43-1754320
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
$1.59M
Blend (final)
Blend
$1.59M
Owner & transaction history
Westland Shopping Center LLC
Westland Shopping Center LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.4M
+38.0%
Retail stores
$2.4M
+34.9%
Medical building
$2.1M
+22.3%
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 Westland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westland 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
NEIGHBORHOOD: SHOPPING CENTER
$1,740,000
Current use
AUTO REPAIR, GARAGE
$2,400,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$2,350,000
Change: +35% · Conversion: Easy
MEDICAL BUILDING
$2,125,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±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
$72 / 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
$42,740
Tax year 2023
Assessed value
$683,000
Assessed 2024
Previous assessed
$625,800
+9.1% YoY
Effective rate
6.26%
On assessed value
Total market value
$1,366,000
Applied tax rate
82,160.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1958
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
21,868 SF
Lot
1.76 ac (76,666 SF)
APN
56 063 02 0007 000
UPID
US43-1754320
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1958
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
1.76 ac
Current owner
From public records · entity-resolved
Westland Shopping Center LLC
Entity
Free & Clear · 0 yrs held
Mailing address
8880 HUBBELL ST, DETROIT, MI 48228-2331
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 20, 2025
$1,115,000
Westland Shopping Center LLC
G A D Properties III LLC
Warranty Deed
—
Jan 16, 2018
—
Gad Properties III LLC
Daiza Rosetta Living Trust
Quit Claim Deed
related
—
Apr 7, 2016
—
Daiza,rosetta Living Trust
Daiza,rosetta
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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