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Property profile & analytics
OFF-MARKET
Estimated value
$145,000
Office buildings
17864 Mack Ave Grosse Pointe, MI 48230-6234
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0335627
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1955
Total area
978 SF
Lot
0.04 ac (1,742 SF)
Zoning code
C-1
APN
37 001 06 0125 000
UPID
US43-0335627
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
by Request
Blend (final)
Blend
$145k
Owner & transaction history
Kevin R Schroeder · 5 yrs held
Kevin R Schroeder
since 2020
Last sale
$142,500
3 recorded transactions
Zoning & alternative use
C-1 · Grosse Pointe, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
DIVISION 7. - C-1 LOCAL BUSINESS DISTRICT Sec. 90-281. - Statement of purpose. The local business district (C-1) intends to encourage a vibrant mix of office, commercial, and residential uses within easy walking or biking distance of residential neighborhoods. Pedestrian-oriented development standards and flexible parking strategies are provided to decrease…
Zone name
Local Business
General category
COMMERCIAL
Zone area
1.45 ac
Source
code of ordinances
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
$145,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$145k
Range $131k – $160k · ±10% · vs last sale $143k (Sep 11 2020)
Last sale anchor
$143k
Sep 11 2020
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
$4,472
Tax year 2023
Assessed value
$76,900
Assessed 2024
Previous assessed
$70,800
+8.6% YoY
Effective rate
5.82%
On assessed value
Total market value
$153,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1955
Heating
FORCED AIR
Stories
1
Total area
978 SF
Lot
0.04 ac (1,742 SF)
Zoning code
C-1
APN
37 001 06 0125 000
UPID
US43-0335627
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-1 · Grosse Pointe, MIZoning C-1 · permitted uses
C-1 · Grosse Pointe, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
DIVISION 7. - C-1 LOCAL BUSINESS DISTRICT Sec. 90-281. - Statement of purpose. The local business district (C-1) intends to encourage a vibrant mix of office, commercial, and residential uses within easy walking or biking distance of residential neighborhoods. Pedestrian-oriented development standards and flexible parking strategies are provided to decrease parking demand in the district and provide for easy access to sites through other modes of transportation. (Code 1980, § 5.139; Ord. No. 445, § VI, 5-17-21)
Zone name
Local Business
General category
COMMERCIAL
Zone area
1.45 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1955
Heating
FORCED AIR
Stories
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
Kevin R Schroeder
Individual
Free & Clear · 5 yrs held
Mailing address
1428 BALFOUR ST, GROSSE POINTE PARK, MI 48230-1024
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Sep 11, 2020
$142,500
Kevin R Schroeder
James W Morris
Warranty Deed
—
—
—
James W Morris
—
Deed Of Trust
related
$96,610 · Fifth Third Bank
—
—
James W Morris
—
Deed Of Trust
related
$120,000 · Standard Federal Bank
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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