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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Strip malls
19354 Kelly Rd Harper Woods, MI 48225-1908
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0078868
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1948
Total area
8,142 SF
Lot
0.19 ac (8,276 SF)
Zoning code
C-2
APN
42 001 01 0702 000
UPID
US43-0078868
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
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$585k
Owner & transaction history
Kelly 8 LLC · 2 yrs held
Kelly 8 LLC
since 2024
Last sale
$585,000
6 recorded transactions
Zoning & alternative use
C-2 · Harper Woods, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$745,000
+20.5%
Restaurant
$745,000
+20.4%
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 Harper Woods submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Harper Woods 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
$585,000
ML approach
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$615,000
Current use
COMMERCIAL (GENERAL)
$745,000
Change: +21% · Conversion: Easy
RESTAURANT
$745,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$565,000
Change: -9% · Conversion: Easy
MEDICAL BUILDING
$515,000
Change: -17% · Conversion: Difficult
OFFICE BUILDING
$500,000
Change: -19% · Conversion: Moderate
AUTO REPAIR, GARAGE
$495,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $585k (May 6 2024)
Last sale anchor
$585k
May 6 2024
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
$72 / 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
$12,383
Tax year 2023
Assessed value
$117,600
Assessed 2024
Previous assessed
$110,800
+6.1% YoY
Effective rate
10.53%
On assessed value
Total market value
$235,200
Applied tax rate
82,320.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1948
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
8,142 SF
Lot
0.19 ac (8,276 SF)
Zoning code
C-2
APN
42 001 01 0702 000
UPID
US43-0078868
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Harper Woods, MIZoning C-2 · permitted uses
C-2 · Harper Woods, MI
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$615,000
COMMERCIAL (GENERAL)
Est. value
$745,000
RESTAURANT
Est. value
$745,000
RETAIL STORES
Est. value
$565,000
MEDICAL BUILDING
Est. value
$515,000
OFFICE BUILDING
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$495,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
OFFICE 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
1948
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Kelly 8 LLC
Entity
Mailing address
31313 NORTHWESTERN HWY, FARMINGTON HILLS, MI 48334-2559
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
$585,000
Kelly 8 LLC
Plaza LLC
Warranty Deed
$468,000 · Independent Bank
Jul 29, 2019
$150,000
A & A Plaza LLC
Select Commercial Assets LLC
Warranty Deed
—
Mar 4, 2015
—
Select Commercial Assets LLC
Di Stefano Family LLC
Quit Claim Deed
related
—
Oct 14, 2014
$303,834
Select Commercial Assets LLC
Deputy Sheriff Of Wayne County|di Stefano Family L
Trustees Deed
related
—
Feb 4, 2005
$450,000
Di Stefano Family LLC
Masi John U Trust
Warranty Deed
$337,500 · Warren Bank
—
—
Di Stefano Family LLC
—
Deed Of Trust
related
$30,000 · Warren 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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