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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Flex space
171 Shafer Dr, Romeo, MI 48065-4913
Trust Owned
16-yr Hold
~
Est. High Equity
Property ID
US43-0503566
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1996
Total area
13,924 SF
Lot
0.88 ac (38,115 SF)
Zoning code
VERIFY
APN
27-01-36-427-002
UPID
US43-0503566
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
$830k
Blend (final)
Blend
$830k
Owner & transaction history
Shafer Raymond E Trust · 16 yrs held
Shafer Raymond E Trust
since 2010
7 recorded transactions
Zoning & alternative use
VERIFY · Romeo, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+45.4%
Auto repair, garage
$1.2M
+31.9%
Warehouse, storage
$940,000
+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 Romeo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Romeo 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)
$910,000
Current use
OFFICE BUILDING
$1,320,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,200,000
Change: +32% · Conversion: Easy
WAREHOUSE, STORAGE
$940,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$60 / 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
$10,657
Tax year 2022
Assessed value
$333,700
Assessed 2023
Previous assessed
$328,000
+1.7% YoY
Effective rate
3.19%
On assessed value
Total market value
$667,400
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
13,924 SF
Lot
0.88 ac (38,115 SF)
Zoning code
VERIFY
APN
27-01-36-427-002
UPID
US43-0503566
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
VERIFY · Romeo, MI
Zoning VERIFY · permitted uses
VERIFY · Romeo, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Romeo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$910,000
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$940,000
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
0.88 ac
Current owner
From public records · entity-resolved
Shafer Raymond E Trust
Trust
Mailing address
130 SHAFER DR, ROMEO, MI 48065-4907
Ownership since
2010
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
Sep 6, 2018
—
Shafer,raymond E Trust
—
Deed
related
$420,000 · North Star Bk
Jul 28, 2017
—
Raymond E Shafer
—
Deed
related
$350,000 · Northstar Bank
Mar 12, 2010
—
Shafer Raymond E Trust
Shafer,raymond E & Jennifer S
Quit Claim Deed
related
—
Dec 15, 2009
—
Shafer Raymond E Trust
Shafer,raymond E & Jennifer S
Quit Claim Deed
related
—
—
—
Raymond E Shafer
—
Deed Of Trust
related
$110,113 · Fifth Third Bank
—
—
Shafer Raymond E Trust
—
Deed Of Trust
related
$105,000 · Seaway Community Bank
—
—
Shafer,raymond E Trust
—
Loan Modification
related
$420,000 · North Star 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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