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Property profile & analytics
OFF-MARKET
Estimated value
$2,630,000
Drug stores
17755 8th Mile Rd Eastpointe, MI 48021-3131
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-1484628
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
13,855 SF
Lot
1.18 ac (51,270 SF)
Zoning code
B-3
APN
02-14-32-379-009
UPID
US43-1484628
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
-
Foot Locker Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Brent D. Forman, RPh Pharmacy
-
Tahira Sanaullah Pharmacy
-
Julius C. Krawciw, RPH Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.58M
Comparable Approach
Comparable
$1.46M
Blend (final)
Blend
$2.63M
Owner & transaction history
Gratiot Baldwin LLC · 3 yrs held
Gratiot Baldwin LLC
since 2022
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
B-3 · Eastpointe, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Restaurant
$2.0M
+89.7%
Medical building
$1.7M
+64.4%
Commercial (general)
$1.4M
+37.6%
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 Eastpointe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eastpointe 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
$2,630,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,705,000
6.5%
$1,575,000
7%
$1,465,000
Alternative Use
Use
Estimation
RESTAURANT
$1,965,000
Change: +90% · Conversion: Easy
MEDICAL BUILDING
$1,700,000
Change: +64% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,425,000
Change: +38% · Conversion: Easy
OFFICE BUILDING
$1,315,000
Change: +27% · Conversion: Easy
Blend value · Realmo final
$2.63M
Range $2.37M – $2.89M · ±10% · vs last sale $2.63M (Nov 29 2022)
Last sale anchor
$2.63M
Nov 29 2022
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
$190 / 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
$34,909
Tax year 2022
Assessed value
$607,200
Assessed 2023
Previous assessed
$551,000
+10.2% YoY
Effective rate
5.75%
On assessed value
Total market value
$1,214,400
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Stories
1
Total area
13,855 SF
Lot
1.18 ac (51,270 SF)
Zoning code
B-3
APN
02-14-32-379-009
UPID
US43-1484628
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Eastpointe, MIZoning B-3 · permitted uses
B-3 · Eastpointe, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1999
Heating
FORCED AIR
Stories
1
Lot
1.18 ac
Current owner
From public records · entity-resolved
Gratiot Baldwin LLC
Entity
Mailing address
2207 ORCH LK RD STE #185, SYLVAN LAKE, MI 48320-1786
Ownership since
2022
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
Nov 29, 2022
$2,626,500
Gratiot Baldwin LLC
Lbcmt 2007 C3 East 8 Mile Road LLC
Deed
$1,825,000 · The Farmers & Merchants State Bank
Jun 10, 2016
$4,305,113
Lbcmt 2007-c3 East 8 Mile Road
Deputy Sheriff Of Macomb County|jgmm Realty LLC
Trustees Deed
related
—
Jul 2, 2007
—
Jgmm Realty LLC
Mred 8 Mile/kelly Associates
Corporation 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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