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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Retail space
1850 12th Mile Rd, Madison Heights, MI 48071-2659
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0288525
Property summary
AI-generated overview
This exceptional retail property presents a unique ground lease opportunity in the thriving city of Madison Heights, Michigan. Situated on a 0.46-acre lot at the highly visible southwest corner of East 12 Mile Road and Dequindre Road, this property boasts an existing 3,038 square foot building, currently vacant and ready for immediate occupancy. The B-1 zoning allows for a variety of commercial uses, making it an ideal location for a wide range of businesses seeking high traffic exposure. The property's strategic location ensures excellent visibility and accessibility for customers, benefiting from the significant daily traffic flow along these major thoroughfares. The substantial lot size offers ample space for potential expansion or outdoor amenities, further enhancing the property's appeal. Located in Oakland County, this property offers a strong foundation for business growth within a vibrant and established community. The entire 3,038 square feet is available, providing a blank canvas for your business vision. This is a rare opportunity to secure a prime retail space in a high-demand area. Don't miss out on this chance to establish your business in a location primed for success. The property is located at 1850 E 12 Mile Rd, Madison Heights, MI 48071.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Total area
2,995 SF
Lot
0.46 ac (20,038 SF)
Zoning code
B-1 LOC
APN
44-25-13-226-011
UPID
US43-0288525
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
$635k
Blend (final)
Blend
$575k
Owner & transaction history
1850 Madison Heights LLC · 7 yrs held
1850 Madison Heights LLC
since 2019
5 recorded transactions
Zoning & alternative use
B-1 LOC · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$530,000
+4.4%
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
RETAIL STORES
$505,000
Current use
COMMERCIAL (GENERAL)
$530,000
Change: +4% · Conversion: Easy
MEDICAL BUILDING
$475,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$192 / 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
$12,547
Tax year 2023
Assessed value
$213,240
Assessed 2024
Previous assessed
$208,820
+2.1% YoY
Effective rate
5.88%
On assessed value
Total market value
$426,480
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1964
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
2,995 SF
Lot
0.46 ac (20,038 SF)
Zoning code
B-1 LOC
APN
44-25-13-226-011
UPID
US43-0288525
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-1 LOC · Madison Heights, MI
Zoning B-1 LOC · permitted uses
B-1 LOC · 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
RETAIL STORES Current
Est. value
$505,000
COMMERCIAL (GENERAL)
Est. value
$530,000
MEDICAL BUILDING
Est. value
$475,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1964
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
1850 Madison Heights LLC
Entity
Mailing address
43348 TUSCANY DR, STERLING HEIGHTS, MI 48314-1948
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Feb 15, 2019
—
1850 Madison Heights LLC
H & S Universal Property LLC
Warranty Deed
$505,000 · Community Choice Cu
Jun 28, 2000
—
H & S Universal Property LLC
Rite Aid Of Michigan
Grant Deed
related
—
Mar 15, 1999
—
Rite Aid Of Michigan INC
Pat Stephenson INC
Grant Deed
related
—
Oct 15, 1998
$530,000
Pat Stephenson INC
Bgp Investment Co
Grant Deed
—
—
—
H & S Universal Property LLC
—
Deed Of Trust
related
$432,000 · Huntington National 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.
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