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Property profile & analytics
OFF-MARKET
Estimated value
$41,070,000
Super regional malls
18900 Michigan Ave, Dearborn, MI 48126-3929
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1979290
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1975
Total area
854,358 SF
Lot
12.49 ac (544,064 SF)
Zoning code
BC
APN
82 09 144 01 031
UPID
US43-1979290
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
-
Metro by T-Mobile Mobile Phone Store Electronics & Wireless Store
-
Chauhan Bharat J DDS Dental Office
-
Auntie Anne's Bakery Specialty Food Shop
-
Spencer's (Bike/Boat/Book/etc) Store
-
Victoria's Secret & PINK by Victoria's Secret (Bike/Boat/Book/etc) Store Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.07M
Blend (final)
Blend
$41.07M
Owner & transaction history
Fairlane Town Center Realty Holding · 3 yrs held
Fairlane Town Center Realty Holding
since 2023
5 recorded transactions
Zoning & alternative use
BC · Dearborn, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Dearborn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dearborn 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
NEIGHBORHOOD: SHOPPING CENTER
$67,980,000
Current use
AUTO REPAIR, GARAGE
$61,290,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$41.07M
Range $36.96M – $45.18M · ±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
$48 / 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
$1,046,092
Tax year 2023
Assessed value
$17,164,700
Assessed 2024
Previous assessed
$16,214,700
+5.9% YoY
Effective rate
6.09%
On assessed value
Total market value
$34,329,400
Applied tax rate
82,030.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1975
Heating
FORCED AIR
Stories
2
Total area
854,358 SF
Lot
12.49 ac (544,064 SF)
Zoning code
BC
APN
82 09 144 01 031
UPID
US43-1979290
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
BC · Dearborn, MI
Zoning BC · permitted uses
BC · Dearborn, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dearborn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$68.0M
AUTO REPAIR, GARAGE
Est. value
$61.3M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
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
1975
Heating
FORCED AIR
Stories
2
Lot
12.49 ac
Current owner
From public records · entity-resolved
Fairlane Town Center Realty Holding
Entity
Mailing address
1010 NORTHERN BLVD STE #212, GREAT NECK, NY 11021-5320
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
May 3, 2023
—
Fairlane Town Center Realty Holding
Centennial Waterfall Fairlane LLC
Deed
$28,000,000 · Psof Wa Holding LLC
Jul 26, 2022
—
Centennial Waterfall Fairlane LLC
Chris Neilson
Deed
$68,000,000 · Aff IV Willow LLC
Oct 21, 2014
—
Tm Fairlane Center LP
Fairlane Town Center LLC
Deed
—
—
—
Bally Total Fitness Of Midwest In
—
Deed Of Trust
related
—
—
—
Bally Total Fitness Of Midwest In
—
Deed Of Trust
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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