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Property profile & analytics
OFF-MARKET
Estimated value
$1,500,000
Outlet malls
17120 Kercheval Ave, Grosse Pointe, MI 48230-1661
Trust Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1730828
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1939
Total area
12,820 SF
Lot
0.3 ac (13,068 SF)
Zoning code
C-2
APN
37 002 04 0087 003
UPID
US43-1730828
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
$1.45M
Blend (final)
Blend
$1.50M
Owner & transaction history
Frohlich,edward P Trust · 13 yrs held
Frohlich,edward P Trust
since 2013
3 recorded transactions
Zoning & alternative use
C-2 · Grosse Pointe, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+32.1%
Restaurant
$1.2M
+32.1%
Neighborhood: shopping center
$970,000
+9.7%
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 Grosse Pointe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grosse Pointe 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
COMMERCIAL (GENERAL)
$1,170,000
Change: +32% · Conversion: Easy
RESTAURANT
$1,170,000
Change: +32% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$970,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$1.50M
Range $1.35M – $1.65M · ±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
$117 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$59,134
Tax year 2023
Assessed value
$1,118,100
Assessed 2024
Previous assessed
$1,074,200
+4.1% YoY
Effective rate
5.29%
On assessed value
Total market value
$2,236,200
Applied tax rate
82,055.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1939
Heating
FORCED AIR
Stories
1
Total area
12,820 SF
Lot
0.3 ac (13,068 SF)
Zoning code
C-2
APN
37 002 04 0087 003
UPID
US43-1730828
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Grosse Pointe, MI
Zoning C-2 · permitted uses
C-2 · Grosse Pointe, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grosse Pointe. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$970,000
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
1939
Heating
FORCED AIR
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Frohlich,edward P Trust
Trust
Mailing address
1 CVS DR DEPT DEPT DEPT, WOONSOCKET, RI 02895
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2013
—
Frohlich,edward P Trust
—
Deed Of Trust
related
$3,250,000 · Farm Bureau Life Ins Michigan
—
—
Kercheval Co
—
Deed Of Trust
related
$2,750,000 · J P Morgan Chase Bank
—
—
Kercheval Co
—
Deed Of Trust
related
$1,500,000 · Bank One NA
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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