New search
Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Drive through restaurants
17800 Vernier Rd, Harper Woods, MI 48225-1005
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1740723
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Total area
4,051 SF
Lot
1.35 ac (58,806 SF)
Zoning code
RS-1
APN
42 009 01 0002 301
UPID
US43-1740723
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
$597k
Blend (final)
Blend
$600k
Owner & transaction history
Lambert Properties LLC · 4 yrs held
Lambert Properties LLC
since 2022
7 recorded transactions
Zoning & alternative use
RS-1 · Harper Woods, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$370,000
+0.1%
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 Harper Woods submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Harper Woods 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
RESTAURANT
$370,000
Current use
COMMERCIAL (GENERAL)
$370,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$148 / 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
$35,171
Tax year 2023
Assessed value
$317,100
Assessed 2024
Previous assessed
$314,700
+0.8% YoY
Effective rate
11.09%
On assessed value
Total market value
$634,200
Applied tax rate
82,320.0000
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
4,051 SF
Lot
1.35 ac (58,806 SF)
Zoning code
RS-1
APN
42 009 01 0002 301
UPID
US43-1740723
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
RS-1 · Harper Woods, MI
Zoning RS-1 · permitted uses
RS-1 · Harper Woods, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Harper Woods. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$370,000
COMMERCIAL (GENERAL)
Est. value
$370,000
RESTAURANT Current
COMMERCIAL (GENERAL)
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
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
Lambert Properties LLC
Entity
Free & Clear · 4 yrs held
Mailing address
120 NEWPORT CTR DR STE #100, NEWPORT BEACH, CA 92660-6909
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2022
—
Lambert Properties LLC
Niki Properties II LP
Lease
—
Feb 24, 2022
—
Lambert Properties LLC
Niki Properties II LP
Deed
—
Feb 21, 2019
—
Niki Properties II LP
Eastland Ctr Mall Realty Holdi
Grant Deed
—
Jan 25, 2019
—
Eastland Ctr Mall Realty Holdi
18000 Vernier Road Hldgs LLC
Grant Deed
—
Apr 29, 2016
$40,000,000
18000 Vernier Road Holdings Ll
Deputy Sheriff Of Wayne County|new Eastland Mall D
Trustees Deed
related
—
Feb 22, 2006
—
New Eastland Mall Developer Ll
Eastland Mall 038 LLC
Quit Claim Deed
related
$29,000,000 · Ixis Real Estate Capital INC
—
—
Niki Properties II LLP
—
Deed Of Trust
related
$1,058,250 · Christian A Paul
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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