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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Drive through restaurants
1835 12th Mile Rd, Madison Heights, MI 48071-2658
Individually Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0226629
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1977
Total area
3,317 SF
Lot
0.7 ac (30,492 SF)
Zoning code
B-2 PLA
APN
44-25-12-478-196
UPID
US43-0226629
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
$768k
Blend (final)
Blend
$685k
Owner & transaction history
Madison Heights Shopping Ctr L · 18 yrs held
Madison Heights Shopping Ctr L
since 2007
5 recorded transactions
Zoning & alternative use
B-2 PLA · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$585,000
+1.8%
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
$575,000
Current use
COMMERCIAL (GENERAL)
$585,000
Change: +2% · Conversion: Easy
RETAIL STORES
$560,000
Change: -2% · Conversion: Easy
MEDICAL BUILDING
$525,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$207 / 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
$17,221
Tax year 2023
Assessed value
$428,370
Assessed 2024
Previous assessed
$417,250
+2.7% YoY
Effective rate
4.02%
On assessed value
Total market value
$856,740
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1977
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
3,317 SF
Lot
0.7 ac (30,492 SF)
Zoning code
B-2 PLA
APN
44-25-12-478-196
UPID
US43-0226629
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-2 PLA · Madison Heights, MI
Zoning B-2 PLA · permitted uses
B-2 PLA · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$585,000
RETAIL STORES
Est. value
$560,000
MEDICAL BUILDING
Est. value
$525,000
RESTAURANT Current
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL 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
1977
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
Madison Heights Shopping Ctr L
Individual
Free & Clear · 18 yrs held
Mailing address
3 GLENLAKE PKWY, ATLANTA, GA 30328-3447
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2007
—
Madison Heights Shopping Ctr L
Canvasser,marla
Quit Claim Deed
related
—
Jul 26, 2007
—
James L Canvasser
Canvasser Marvin A Trust
Quit Claim Deed
related
—
Mar 22, 2007
—
Levitt Elaine B S Trust
Levitt Elaine B S Trust
Quit Claim Deed
related
—
Aug 9, 2002
$150,000
Robert Canvasser
Garry Shacket Estate
Grant Deed
—
—
—
Sybra INC
—
Deed Of Trust
related
$10,595,793 · Cit Lending Services Corp
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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