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Property profile & analytics
OFF-MARKET
Estimated value
$1,970,000
Warehouses
1843 8th Mile Rd, Hazel Park, MI 48030-2639
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-0840940
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2015
Total area
16,824 SF
APN
28-25-36-483-011
UPID
US43-0840940
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
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
-
Coinhub Bitcoin ATM Teller Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$1.97M
Owner & transaction history
HAZEL PARK DEVELOPMENT LLC
HAZEL PARK DEVELOPMENT LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+130.7%
Restaurant
$2.9M
+126.7%
Retail stores
$2.8M
+121.0%
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 Hazel Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hazel Park 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
WAREHOUSE, STORAGE
$1,285,000
Current use
COMMERCIAL (GENERAL)
$2,965,000
Change: +131% · Conversion: Difficult
RESTAURANT
$2,910,000
Change: +127% · Conversion: Difficult
RETAIL STORES
$2,840,000
Change: +121% · Conversion: Moderate
MEDICAL BUILDING
$2,655,000
Change: +107% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,060,000
Change: +60% · Conversion: Easy
OFFICE BUILDING
$1,975,000
Change: +54% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,565,000
Change: +22% · Conversion: Moderate
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±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
$117 / 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
$67,022
Tax year 2023
Assessed value
$774,120
Assessed 2024
Previous assessed
$726,370
+6.6% YoY
Effective rate
8.66%
On assessed value
Total market value
$1,548,240
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2015
Heating
YES
Stories
1
Units
1
Total area
16,824 SF
APN
28-25-36-483-011
UPID
US43-0840940
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$3.0M
RESTAURANT
Est. value
$2.9M
RETAIL STORES
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2015
Heating
YES
Stories
1
Units
1
Current owner
From public records · entity-resolved
HAZEL PARK DEVELOPMENT LLC
Entity
Free & Clear · 0 yrs held
Mailing address
23025 OLD ORCH TRL, BINGHAM FARMS, MI 48025-3432
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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