New search
Property profile & analytics
OFF-MARKET
Estimated value
$7,870,000
Office buildings
1903 Wilkins St Detroit, MI 48207-2112
Individually Owned
10-yr Hold
Free & Clear
Property ID
US43-1130512
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
127,924 SF
Lot
3.76 ac (163,786 SF)
Zoning code
SD2
APN
09001454.
UPID
US43-1130512
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
-
Corewell Health School Based Clinic - DEPSA Medical Clinic
-
Detroit Edison Public School Academy High School Vocational School
-
Road Ready Driving School, INC. Training Center Vocational School
-
Charles J Barone, MD Pediatrician Medical Clinic
-
Tina Almanza Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.89M
Blend (final)
Blend
$7.87M
Owner & transaction history
Detroit Edison Public Sch Acad · 10 yrs held
Detroit Edison Public Sch Acad
since 2015
2 recorded transactions
Zoning & alternative use
SD2 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$11.7M
+48.1%
Restaurant
$11.7M
+48.0%
Neighborhood: shopping center
$9.7M
+22.9%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
OFFICE BUILDING
$7,885,000
Current use
COMMERCIAL (GENERAL)
$11,680,000
Change: +48% · Conversion: Easy
RESTAURANT
$11,670,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$9,690,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$8,840,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$8,060,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,755,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$7.87M
Range $7.08M – $8.66M · ±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
$62 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$100
Tax year 2020
Applied tax rate
82,010.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Buildings
5
Stories
2
Total area
127,924 SF
Lot
3.76 ac (163,786 SF)
Zoning code
SD2
APN
09001454.
UPID
US43-1130512
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
SD2 · Detroit, MI
Zoning SD2 · permitted uses
SD2 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$7.9M
COMMERCIAL (GENERAL)
Est. value
$11.7M
RESTAURANT
Est. value
$11.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.7M
RETAIL STORES
Est. value
$8.8M
MEDICAL BUILDING
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.8M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
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
1987
Heating
FORCED AIR
Stories
2
Buildings
5
Lot
3.76 ac
Current owner
From public records · entity-resolved
Detroit Edison Public Sch Acad
Individual
Free & Clear · 10 yrs held
Mailing address
1903 WILKINS ST, DETROIT, MI 48207-2112
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2015
—
Detroit Edison Public Sch Acad
1903 Wilkins LLC
Quit Claim Deed
related
—
—
—
1903 Wilkins LLC
—
Deed Of Trust
related
$19,531,591 · Talmer Bank & Trust
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 1903 Wilkins St?
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.
