New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,340,000
Flex space
15325 Chets Way St, Armada, MI 48005
Entity Owned
~
Est. High Equity
Property ID
US43-2688759
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1997
Total area
35,931 SF
Lot
2.07 ac (90,300 SF)
Zoning code
MI
APN
13-02-31-356-002
UPID
US43-2688759
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
$2.34M
Blend (final)
Blend
$2.34M
Owner & transaction history
Chets Properties 5 LLC
Chets Properties 5 LLC
1 recorded transaction
Zoning & alternative use
MI · Armada, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.8M
+60.0%
Commercial (general)
$3.7M
+57.7%
Office building
$3.4M
+45.4%
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 Armada submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Armada 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
INDUSTRIAL (GENERAL)
$2,340,000
Current use
RETAIL STORES
$3,750,000
Change: +60% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,695,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$3,405,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,090,000
Change: +32% · Conversion: Easy
WAREHOUSE, STORAGE
$2,425,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.34M
Range $2.11M – $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
$65 / 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
$16,100
Tax year 2022
Previous assessed
$401,900
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Stories
1
Total area
35,931 SF
Lot
2.07 ac (90,300 SF)
Zoning code
MI
APN
13-02-31-356-002
UPID
US43-2688759
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
MI · Armada, MI
Zoning MI · permitted uses
MI · Armada, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Armada. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.3M
RETAIL STORES
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.1M
WAREHOUSE, STORAGE
Est. value
$2.4M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1997
Heating
FORCED AIR
Stories
1
Lot
2.07 ac
Current owner
From public records · entity-resolved
Chets Properties 5 LLC
Entity
Mailing address
PO BOX 454, ROMEO, MI 48065-0454
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Chets Properties 5 LLC
—
Loan Modification
related
$4,689,442 · Comerica Bk
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 15325 Chets Way 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.
