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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Grocery and convenience stores
1621 11th Mile Rd, Royal Oak, MI 48067-2029
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-5234908
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1964
Total area
1,732 SF
Lot
0.36 ac (15,594 SF)
Zoning code
NBHD BUS
APN
72-25-15-483-027
UPID
US43-5234908
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
$455k
Blend (final)
Blend
$540k
Owner & transaction history
Royal Oak Marathon LLC · 5 yrs held
Royal Oak Marathon LLC
since 2021
Last sale
$700,000
7 recorded transactions
Zoning & alternative use
NBHD BUS · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$325,000
+11.8%
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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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
$735,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$325,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $700k (Jun 11 2021)
Last sale anchor
$700k
Jun 11 2021
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
$312 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$17,296
Tax year 2021
Assessed value
$371,340
Assessed 2024
Previous assessed
$301,370
+23.2% YoY
Effective rate
4.66%
On assessed value
Total market value
$742,680
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1964
Heating
FORCED AIR
Stories
1
Total area
1,732 SF
Lot
0.36 ac (15,594 SF)
Zoning code
NBHD BUS
APN
72-25-15-483-027
UPID
US43-5234908
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
NBHD BUS · Royal Oak, MI
Zoning NBHD BUS · permitted uses
NBHD BUS · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$325,000
COMMERCIAL (GENERAL)
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
1964
Heating
FORCED AIR
Stories
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Royal Oak Marathon LLC
Entity
Mailing address
5777 W MAPLE RD STE #176, WEST BLOOMFIELD, MI 48322-4448
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2023
—
Royal Oak Marathn LLC
—
Deed
related
$258,000 · The Farmers & Merchants State Bank
Jun 11, 2021
$700,000
Royal Oak Marathon LLC
Royal Oak Gas & Go INC
Warranty Deed
$591,000 · The Farmers & Merchants State Bank
Jun 11, 2018
—
Royal Oak Gas & Go INC
—
Deed
related
$455,500 · First St Bk
Jul 16, 2013
—
Royal Oaks Gas & Go INC
Fast Tract Ventures LLC
Warranty Deed
related
—
Jun 28, 2013
—
Fast Track Ventures LLC
C & H Land Co LLC
Grant Deed
related
—
Mar 10, 2009
—
C & H Land Co LLC
—
Deed Of Trust
related
$14,780,000 · Wells Fargo Bank
Mar 21, 2006
$1,000,000
C & H Land Co LLC
Cc & K Petroleum Ents INC
Warranty Deed
related
$1,000,000 · Comerica Bank
—
—
Cc & K Petroleum Enterprises
—
Deed Of Trust
related
$840,000 · Bank One NA
—
—
Royal Oak Gas & Co INC
—
Deed Of Trust
related
$455,500 · First State Bank
—
—
Royal Oak Gas & Go INC
—
Deed Of Trust
related
$669,500 · First State Bank
—
—
Royal Oak Gas & Go INC
—
Loan Modification
related
$455,500 · First St 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.
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