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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Grocery and convenience stores
19500 Kelly Rd, Harper Woods, MI 48225-1912
Entity Owned
14-yr Hold
Free & Clear
Property ID
US43-0408023
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1948
Total area
6,914 SF
Lot
0.4 ac (17,424 SF)
Zoning code
C-2
APN
42 001 04 0001 006
UPID
US43-0408023
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
$828k
Blend (final)
Blend
$830k
Owner & transaction history
R Gang Harper Properties LLC · 14 yrs held
R Gang Harper Properties LLC
since 2011
5 recorded transactions
Zoning & alternative use
C-2 · Harper Woods, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$630,000
+20.5%
Restaurant
$630,000
+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
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
$525,000
Current use
COMMERCIAL (GENERAL)
$630,000
Change: +21% · Conversion: Easy
RESTAURANT
$630,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$120 / 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
$20,340
Tax year 2023
Assessed value
$188,100
Assessed 2024
Previous assessed
$182,000
+3.4% YoY
Effective rate
10.81%
On assessed value
Total market value
$376,200
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1948
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Bathrooms
2
Total area
6,914 SF
Lot
0.4 ac (17,424 SF)
Zoning code
C-2
APN
42 001 04 0001 006
UPID
US43-0408023
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Harper Woods, MI
Zoning 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
Harper Woods. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$525,000
COMMERCIAL (GENERAL)
Est. value
$630,000
RESTAURANT
Est. value
$630,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
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
Cooling
Yes
Stories
1
Buildings
1
Bathrooms
2
Lot
0.4 ac
Current owner
From public records · entity-resolved
R Gang Harper Properties LLC
Entity
Free & Clear · 14 yrs held
Mailing address
19500 KELLY RD, HARPER WOODS, MI 48225-1912
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
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
Sep 9, 2011
$600,000
R Gang Harper Properties LLC
Rrrg INC
Warranty Deed
—
Jun 30, 2004
$300,000
Sleewa INC
Berglund,timothy P
Warranty Deed
—
Jun 30, 2004
$600,000
Rrrg INC
Sleewa
Grant Deed
—
—
—
R Gang Harper Properties LLC
—
Deed Of Trust
related
$600,000 · Rrrg INC
—
—
R Gang Harper Properties LLC
—
Deed Of Trust
related
$460,000 · Bank Of Mi
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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