New search
Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Office buildings
18451 12th Mile Rd, Lathrup Village, MI 48076-2644
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0264562
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1966
Total area
7,488 SF
Lot
0.5 ac (21,780 SF)
Zoning code
BI
APN
40-24-14-226-052
UPID
US43-0264562
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
$818k
Blend (final)
Blend
$780k
Owner & transaction history
Lajari Properties LLC · 4 yrs held
Lajari Properties LLC
since 2021
Last sale
$770,000
7 recorded transactions
Zoning & alternative use
BI · Lathrup Village, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+62.3%
Auto repair, garage
$920,000
+14.9%
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 Lathrup Village submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lathrup Village 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
$755,000
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
$800,000
Current use
RESTAURANT
$1,295,000
Change: +62% · Conversion: Moderate
AUTO REPAIR, GARAGE
$920,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$695,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$780k
Range $702k – $858k · ±10% · vs last sale $770k (Dec 7 2021)
Last sale anchor
$770k
Dec 7 2021
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
$104 / 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
$16,781
Tax year 2023
Assessed value
$276,440
Assessed 2024
Previous assessed
$259,730
+6.4% YoY
Effective rate
6.07%
On assessed value
Total market value
$552,880
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
1966
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
7,488 SF
Lot
0.5 ac (21,780 SF)
Zoning code
BI
APN
40-24-14-226-052
UPID
US43-0264562
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Lathrup Village, MI
Zoning BI · permitted uses
BI · Lathrup Village, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lathrup Village. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$800,000
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$920,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$695,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1966
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Lajari Properties LLC
Entity
Free & Clear · 4 yrs held
Mailing address
5151 NORKO DR, FLINT, MI 48507-3021
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2023
—
Lajari Properties LLC
—
Deed
related
$394,523 · The Huntington National Bank
Apr 1, 2022
—
Lajari Properties LLC
—
Deed
related
$1,394,000 · The Huntington National Bank
Dec 7, 2021
$770,000
Lajari Properties LLC
Arb Properties LLC
Warranty Deed
—
Apr 15, 2010
$155,000
Arb Properties LLC
Findling,david
Grant Deed
—
Feb 10, 2005
—
Tara Real Estate LLC
B & P Center Investments LLC
Quit Claim Deed
related
$600,000 · Flagstar Bank Fsb
Apr 24, 2002
$505,000
B & P Center Investment LLC
Carmen Southfield LLC
Grant Deed
—
Jun 27, 2001
—
B & P Center Investment LLC
Carmen Southfield LLC
Grant Deed
related
—
Apr 24, 2000
—
Carmen Southfield LLC
Meram,anne M
Grant Deed
$400,000 · Bank Of Bloomfield Hills
—
—
Salwan Yaldo
—
Deed Of Trust
related
$500,000 · Detroit Commerce 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 18451 12th Mile Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
