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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Banks
20000 12th Mile Rd Southfield, MI 48076-2428
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US43-0583319
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1966
Total area
5,478 SF
Lot
0.69 ac (30,013 SF)
Zoning code
B-3
APN
76-24-11-351-040
UPID
US43-0583319
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
$885k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$920k
Owner & transaction history
20000 W 12 Mile LLC
20000 W 12 Mile LLC
since 2025
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
B-3 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$740,000
+28.5%
Restaurant
$610,000
+6.6%
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 Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield 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
$890,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$575,000
Current use
RETAIL STORES
$740,000
Change: +28% · Conversion: Difficult
RESTAURANT
$610,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10% · vs last sale $1.20M (May 27 2025)
Last sale anchor
$1.20M
May 27 2025
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
$168 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$20,556
Tax year 2022
Assessed value
$411,300
Assessed 2022
Previous assessed
$411,300
+0.0% YoY
Effective rate
5.00%
On assessed value
Assessed land
$127,550
Assessed improvement
$283,750
Land market value
$255,100
Improvement market value
$567,500
Total market value
$822,600
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Total area
5,478 SF
Lot
0.69 ac (30,013 SF)
Zoning code
B-3
APN
76-24-11-351-040
UPID
US43-0583319
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Southfield, MI
Zoning B-3 · permitted uses
B-3 · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$575,000
RETAIL STORES
Est. value
$740,000
RESTAURANT
Est. value
$610,000
FINANCIAL BUILDING Current
RETAIL STORES
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
1966
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
20000 W 12 Mile LLC
Entity
Mailing address
28454 WOODWARD AVE, ROYAL OAK, MI 48067-0937
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Aug 27, 2025
$1,200,000
20000 W 12 Mile LLC
Vdg Evergreen LLC
Warranty Deed
$900,000 · Fifth Third Bank NA
Jan 26, 2023
$775,000
Vdg Evergreen LLC
The Huntington National Bank
Deed
—
Aug 6, 2012
—
Huntington Natl Bk
Fidelity Bk
Grant Deed
—
Sep 21, 2005
—
Richard A Hall
Hall,richard A & Verna J
Quit Claim Deed
related
—
Sep 20, 2005
—
Fidelity Bank
Mahoney,guy F & Joan W
Warranty Deed
—
Jun 7, 2003
—
Richard A Hall
Hall,ricahrd A & Verna J
Quit Claim Deed
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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