1845 Wayne Rd Westland, MI 48185-3772
Auto shops
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Entity Owned
Absentee Owner
~
Est. High Equity
For Sale
1 / 3
Contact for pricing
1845 Wayne Rd, Westland, MI 48185-3772
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Estimated value (blended)
$865k
Range $779k – $952k (±10%)
Property ID
US43-1631708
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1960
Total area
15,500 SF
Lot
1.18 ac (51,401 SF)
APN
56 045 99 0002 703
UPID
US43-1631708
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$865k
Owner & transaction history
since 2025
5 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$865k
Value range
$779k – $952k
±10% around blend
Estimated value / SF
$56 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
30
Income certainty
100
$779k
blend $865k
$952k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,500 SF
Lot area
1.18 ac
Year built
1960
Stories
1
APN
56 045 99 0002 703
Assessed value
$466,900
Annual tax
$29,116
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$29,116
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$485k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
19.5 mi away · 11,200 SF
19.5 mi away · 11,200 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$865k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 23 sales
$110
-49%
County 447 sales
$72
-22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $56/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
4.93%
Selected cap rate for this auto shops
Derived from the Westland market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.93%
9.0%
NOI (est.)
$112k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.27M
Move the market yield to see immediate price impact.
Value / SF
$147
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.43%4.93%5.43%
$101k
$2.28M
$2.05M
$1.86M
$112k
$2.53M
$2.27M
$2.06M
$123k
$2.78M
$2.50M
$2.27M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$500k
14.4 mi · Feb 2026 · $33/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$29,116
Tax year 2023
Assessed value
$466,900
Assessed 2024
Previous assessed
$429,300
+8.8% YoY
Effective rate
6.24%
On assessed value
Total market value
$933,800
Applied tax rate
82,160.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Sale
Year built
1960
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
15,500 SF
Lot
1.18 ac (51,401 SF)
APN
56 045 99 0002 703
UPID
US43-1631708
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
1.18 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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