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Property profile & analytics
OFF-MARKET
Estimated value
$3,665,000
Warehouses
1928 London Ave, Lincoln Park, MI 48146-3402
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1105884
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1987
Total area
61,200 SF
Lot
7.17 ac (312,325 SF)
APN
45 014 99 0006 001
UPID
US43-1105884
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
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.67M
Blend (final)
Blend
$3.67M
Owner & transaction history
Ess Vrs Owner LLC · 14 yrs held
Ess Vrs Owner LLC
since 2012
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.0M
+139.1%
Office building
$5.9M
+138.0%
Medical building
$5.8M
+130.8%
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 Lincoln Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lincoln Park 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
WAREHOUSE, STORAGE
$2,500,000
Current use
RETAIL STORES
$5,970,000
Change: +139% · Conversion: Moderate
OFFICE BUILDING
$5,945,000
Change: +138% · Conversion: Difficult
MEDICAL BUILDING
$5,765,000
Change: +131% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,870,000
Change: +95% · Conversion: Moderate
Blend value · Realmo final
$3.67M
Range $3.30M – $4.03M · ±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
$60 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$77,499
Tax year 2019
Assessed value
$1,330,500
Assessed 2024
Previous assessed
$1,308,000
+1.7% YoY
Effective rate
5.82%
On assessed value
Total market value
$2,661,000
Applied tax rate
82,090.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Stories
1
Total area
61,200 SF
Lot
7.17 ac (312,325 SF)
APN
45 014 99 0006 001
UPID
US43-1105884
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
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.5M
RETAIL STORES
Est. value
$6.0M
OFFICE BUILDING
Est. value
$5.9M
MEDICAL BUILDING
Est. value
$5.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
WAREHOUSE, STORAGE Current
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
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
1987
Heating
FORCED AIR
Stories
1
Lot
7.17 ac
Current owner
From public records · entity-resolved
Ess Vrs Owner LLC
Entity
Mailing address
6890 S 2300TH E, SALT LAKE CITY, UT 84171-6001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2012
—
Ess Vrs Owner LLC
Minibrook Partnership
Correction Deed
related
$52,100,000 · Compass Bank
Aug 19, 2005
—
Ess Vrs Owner LLC
Susa Partnership LP
Deed
$52,100,000 · Wachovia Bank NA
—
—
Ess Vrs Owner LLC
—
Loan Modification
related
$52,100,000 · Bbva USA
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
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