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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Office buildings
1842 Michigan Ave, Detroit, MI 48216-1332
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US43-4917214
Property summary
AI-generated overview
This exceptional commercial property, located at 1842 Michigan Avenue, presents a unique opportunity in the vibrant Corktown neighborhood. Situated on a 0.3-acre lot at the northeast corner of Michigan and Rosa Parks Avenues, this two-story building offers a total of 7,395 square feet of space, currently entirely vacant and ready for immediate occupancy. The building boasts a flexible layout, with a minimum divisible space of 3,057 square feet and a maximum contiguous space of 4,338 square feet, making it ideal for a variety of retail uses. The property includes 18 parking spaces, a significant advantage in this high-demand area. The building's zoning is B4 & SD-2, allowing for diverse commercial applications. Its proximity to Ford's Michigan Central Station provides exceptional visibility and accessibility. Built in 1890, this property offers a blend of historic charm and modern potential, presenting a rare opportunity to establish a thriving business in a rapidly developing neighborhood. The sale includes the entire 0.3-acre lot, extending behind the building onto Kaline. This prime location and substantial space make this property an exceptional investment opportunity.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1895
Total area
6,981 SF
Lot
0.14 ac (6,098 SF)
Zoning code
B4
APN
08000556.
UPID
US43-4917214
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
-
Pivox Sports (Bike/Boat/Book/etc) Store
-
BSJZ Law Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$710k
Blend (final)
Blend
$710k
Owner & transaction history
1842 Michigan LLC · 8 yrs held
1842 Michigan LLC
since 2018
5 recorded transactions
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$635,000
+48.1%
Restaurant
$635,000
+48.0%
Neighborhood: shopping center
$530,000
+22.9%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
OFFICE BUILDING
$430,000
Current use
COMMERCIAL (GENERAL)
$635,000
Change: +48% · Conversion: Easy
RESTAURANT
$635,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$530,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$480,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$440,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$102 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$11,949
Tax year 2020
Assessed value
$302,600
Assessed 2024
Previous assessed
$247,800
+22.1% YoY
Effective rate
3.95%
On assessed value
Total market value
$605,200
Applied tax rate
82,010.0000
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
1895
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
6,981 SF
Lot
0.14 ac (6,098 SF)
Zoning code
B4
APN
08000556.
UPID
US43-4917214
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MI
Zoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$635,000
RESTAURANT
Est. value
$635,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$530,000
RETAIL STORES
Est. value
$480,000
MEDICAL BUILDING
Est. value
$440,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1895
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
1842 Michigan LLC
Entity
Mailing address
PO BOX 183432, UTICA, MI 48318-3432
Ownership since
2018
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
Dec 9, 2019
—
1842 Michigan LLC
—
Deed
related
$1,480,000 · The Huntington National Bank
Dec 11, 2018
—
1842 Michigan LLC
—
Grant Deed
related
$2,000,000 · Main Street Bk
Apr 25, 2018
—
1842 Michigan LLC
Bagley Properties LLC
Warranty Deed
$1,000,000 · Bagley Properties LLC
Sep 2, 2011
—
Bagley Properties LLC
Khalil Monier Living Trust
Quit Claim Deed
related
—
Jun 22, 2004
—
Evelyn Khalil
Khalil Brothers INC
Quit Claim Deed
related
—
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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