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Property profile & analytics
OFF-MARKET
Estimated value
$13,165,000
Flex space
16445 23rd Mile Rd Macomb, MI 48042-4005
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-0705763
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1996
Total area
214,282 SF
Lot
22.26 ac (969,646 SF)
Zoning code
M1
APN
20-08-18-400-013
UPID
US43-0705763
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
-
Ascent Aerospace Corporate Office Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.78M
Comparable Approach
Comparable
$11.47M
Blend (final)
Blend
$13.17M
Owner & transaction history
Aurora 16445 23 Mile LLC · 5 yrs held
Aurora 16445 23 Mile LLC
since 2021
Last sale
$13.4M
7 recorded transactions
Zoning & alternative use
M1 · Macomb, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$20.3M
+45.4%
Auto repair, garage
$18.4M
+31.9%
Warehouse, storage
$14.5M
+3.5%
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
$16,095,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$19,255,000
6.5%
$17,775,000
7%
$16,505,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$13,970,000
Current use
OFFICE BUILDING
$20,315,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$18,430,000
Change: +32% · Conversion: Easy
WAREHOUSE, STORAGE
$14,450,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$13.17M
Range $11.85M – $14.48M · ±10% · vs last sale $13.39M (Jun 11 2021)
Last sale anchor
$13.39M
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
$61 / 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
$226,453
Tax year 2022
Assessed value
$4,610,900
Assessed 2023
Previous assessed
$4,467,000
+3.2% YoY
Effective rate
4.91%
On assessed value
Total market value
$9,221,800
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
1996
Heating
FORCED AIR
Stories
1
Total area
214,282 SF
Lot
22.26 ac (969,646 SF)
Zoning code
M1
APN
20-08-18-400-013
UPID
US43-0705763
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M1 · Macomb, MI
Zoning M1 · permitted uses
M1 · Macomb, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Macomb. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$14.0M
OFFICE BUILDING
Est. value
$20.3M
AUTO REPAIR, GARAGE
Est. value
$18.4M
WAREHOUSE, STORAGE
Est. value
$14.5M
INDUSTRIAL (GENERAL) Current
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
1996
Heating
FORCED AIR
Stories
1
Lot
22.26 ac
Current owner
From public records · entity-resolved
Aurora 16445 23 Mile LLC
Entity
Mailing address
301 E YAMATO RD STE #4160, BOCA RATON, FL 33431-4933
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2025
—
Aurora 16445 23 Mile LLC
—
Deed
related
$275,000,000 · Wells Fargo Bank NA
Jun 11, 2021
$13,394,500
Aurora 16445 23 Mile LLC
Mcm 16445 23 Mile LLC
Deed
$85,000,000 · Fs Creitoriginator LLC
Jun 25, 2019
—
Mcm 16445 23 Mile LLC
—
Loan Modification
related
$78,750,000 · Sg Cap Ptrs LLC
May 9, 2019
$12,943,609
Mcm 16445 23 Mile LLC
Macomb Gts LLC
Trustees Deed
$78,750,000 · Sg Cap Ptrs LLC
May 14, 2013
—
Macomb Gts LLC
Sss Holdings LLC
Grant Deed
$6,370,000 · American National Insurance Co
Oct 21, 2008
—
Sss Holdings LLC
Comau INC
Warranty Deed
—
May 4, 2007
—
Comau Pico INC
Societe Generale Finl Corp
Grant 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.
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