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Property profile & analytics
OFF-MARKET
Estimated value
$2,010,000
Flex space
16280 23rd Mile Rd Macomb, MI 48044-1004
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-2369411
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1998
Total area
28,200 SF
Lot
1.96 ac (85,290 SF)
Zoning code
M1
APN
20-08-19-200-016
UPID
US43-2369411
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
Current use
Occupant on record · Public records
-
Granite Countertops St Clair Shores Kitchen & Bath Showroom Hardware & Home Improvement
-
Baker Industries Industrial Manufacturer Production Facility
-
Baker Industries, a Lincoln Electric Company - Plant 5 Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$2.01M
Owner & transaction history
The Lincoln Electric Company · 2 yrs held
The Lincoln Electric Company
since 2024
5 recorded transactions
Zoning & alternative use
M1 · Macomb, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.9M
+60.0%
Commercial (general)
$2.9M
+57.7%
Office building
$2.7M
+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 Macomb submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Macomb 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)
$1,840,000
Current use
RETAIL STORES
$2,940,000
Change: +60% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,900,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$2,675,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,425,000
Change: +32% · Conversion: Easy
WAREHOUSE, STORAGE
$1,900,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.01M
Range $1.81M – $2.21M · ±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
$71 / 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
$37,742
Tax year 2022
Assessed value
$807,000
Assessed 2023
Previous assessed
$807,000
+0.0% YoY
Effective rate
4.68%
On assessed value
Total market value
$1,614,000
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
1998
Heating
FORCED AIR
Stories
1
Total area
28,200 SF
Lot
1.96 ac (85,290 SF)
Zoning code
M1
APN
20-08-19-200-016
UPID
US43-2369411
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M1 · Macomb, MIZoning M1 · permitted uses
M1 · Macomb, MI
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.8M
RETAIL STORES
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$1.9M
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
1998
Heating
FORCED AIR
Stories
1
Lot
1.96 ac
Current owner
From public records · entity-resolved
The Lincoln Electric Company
Entity
Mailing address
22801 SAINT CLAIR AVE, CLEVELAND, OH 44117-2524
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
Jan 3, 2024
—
The Lincoln Electric Company
Performance Investment Group LLC
Quit Claim Deed
related
—
Mar 27, 2019
—
16280 23 Mile LLC
Performance Invs Grp LLC
Warranty Deed
—
Jan 24, 2019
—
Performance Investment Group LLC
16280 23 Mile LLC
Warranty Deed
—
Nov 16, 2018
—
16280 23 Mile LLC
Sal-mar Industrial 16280 LLC
Quit Claim Deed
—
—
—
Sal-mar Industrial 16280 LLC
—
Loan Modification
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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