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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Bars & Pubs
1600 Ft St, Detroit, MI 48216-1915
Entity Owned
2-yr Hold
Free & Clear
Property ID
US43-0813522
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1912
Total area
11,870 SF
Lot
0.16 ac (6,970 SF)
Zoning code
M4
APN
08000054.
UPID
US43-0813522
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
$702k
Blend (final)
Blend
$700k
Owner & transaction history
Two Work Horses LLC · 2 yrs held
Two Work Horses LLC
since 2024
5 recorded transactions
Zoning & alternative use
M4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+3.6%
Restaurant
$1.1M
+3.6%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
NIGHTCLUB (COCKTAIL LOUNGE)
$1,045,000
Current use
COMMERCIAL (GENERAL)
$1,085,000
Change: +4% · Conversion: Difficult
RESTAURANT
$1,085,000
Change: +4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$900,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±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
$59 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$5,926
Tax year 2020
Assessed value
$268,200
Assessed 2024
Previous assessed
$240,000
+11.8% YoY
Effective rate
2.21%
On assessed value
Total market value
$536,400
Applied tax rate
82,010.0000
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
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1912
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
11,870 SF
Lot
0.16 ac (6,970 SF)
Zoning code
M4
APN
08000054.
UPID
US43-0813522
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
M4 · Detroit, MI
Zoning M4 · permitted uses
M4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NIGHTCLUB (COCKTAIL LOUNGE) Current
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$900,000
NIGHTCLUB (COCKTAIL LOUNGE) Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1912
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
Two Work Horses LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1600 W FT ST, DETROIT, MI 48216-1915
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2024
—
Two Work Horses LLC
Deone Larkins
Quit Claim Deed
related
—
Mar 28, 2023
—
Deone Larkins
Paul Katikos
Quit Claim Deed
related
—
Dec 4, 2019
—
Fort Street Group LLC
Paul Katikos
Quit Claim Deed
related
—
Aug 22, 2013
—
Deon Larkins
Katikos,paul & Margaret
Quit Claim Deed
—
May 24, 2012
$7,500
Paul Katikos
Security Natl Fndg Trust
Warranty Deed
—
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
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