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Property profile & analytics
OFF-MARKET
Estimated value
$13,390,000
Flex space
17500 23rd Mile Rd Macomb, MI 48044-1165
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US43-1454358
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1981
Total area
312,087 SF
Lot
25.65 ac (1,117,314 SF)
Zoning code
M1
APN
20-08-20-100-017
UPID
US43-1454358
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
-
G Designs Architect
-
Harding Performance Industrial Manufacturer Production Facility
-
UTEC Industrial Manufacturer Production Facility
-
Foam Factory, Inc. Big Box & Wholesale Store
-
Coast 2 Coast Truck Driving School Training Center Vocational School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.39M
Blend (final)
Blend
$13.39M
Owner & transaction history
Salvino & Sons LLC · 14 yrs held
Salvino & Sons LLC
since 2012
1 recorded transaction
Zoning & alternative use
M1 · Macomb, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$21.0M
+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
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)
$20,345,000
Current use
WAREHOUSE, STORAGE
$21,045,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$13.39M
Range $12.05M – $14.73M · ±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
$43 / 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
$120,366
Tax year 2022
Assessed value
$4,046,100
Assessed 2023
Previous assessed
$3,814,900
+6.1% YoY
Effective rate
2.97%
On assessed value
Total market value
$8,092,200
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
1981
Heating
FORCED AIR
Stories
1
Total area
312,087 SF
Lot
25.65 ac (1,117,314 SF)
Zoning code
M1
APN
20-08-20-100-017
UPID
US43-1454358
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
$20.3M
WAREHOUSE, STORAGE
Est. value
$21.0M
INDUSTRIAL (GENERAL) Current
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
1981
Heating
FORCED AIR
Stories
1
Lot
25.65 ac
Current owner
From public records · entity-resolved
Salvino & Sons LLC
Entity
Mailing address
17500 23RD MILE RD, MACOMB, MI 48044-1165
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2012
$2,200,000
Salvino & Sons LLC
Nachi Machining Technology Co
Warranty Deed
$1,955,000 · First State Bank Of East Detroit
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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