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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Distribution centers
20881 Boening Dr, Southfield, MI 48075-5704
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-4048605
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1957
Total area
11,925 SF
Lot
2.78 ac (121,097 SF)
Zoning code
I-1
APN
76-24-35-353-011
UPID
US43-4048605
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
$993k
Blend (final)
Blend
$735k
Owner & transaction history
Rsb Estates LLC · 6 yrs held
Rsb Estates LLC
since 2020
4 recorded transactions
Zoning & alternative use
I-1 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+21.9%
Industrial (general)
$965,000
+6.0%
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
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
$910,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,110,000
Change: +22% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$965,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$735k
Range $662k – $809k · ±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 2022Property tax & assessments
Tax year 2022
Tax billed
$18,422
Tax year 2022
Assessed value
$284,530
Assessed 2022
Previous assessed
$284,530
+0.0% YoY
Effective rate
6.47%
On assessed value
Assessed land
$51,460
Assessed improvement
$233,070
Land market value
$102,920
Improvement market value
$466,140
Total market value
$569,060
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1957
Heating
FORCED AIR
Stories
1
Units
1
Total area
11,925 SF
Lot
2.78 ac (121,097 SF)
Zoning code
I-1
APN
76-24-35-353-011
UPID
US43-4048605
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Southfield, MI
Zoning I-1 · permitted uses
I-1 · 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
WAREHOUSE, STORAGE Current
Est. value
$910,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$965,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
1957
Heating
FORCED AIR
Stories
1
Units
1
Lot
2.78 ac
Current owner
From public records · entity-resolved
Rsb Estates LLC
Entity
Mailing address
20881 BOENING DR, SOUTHFIELD, MI 48075-5704
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2023
—
Rsb Estates LLC
—
Deed
related
$1,680,000 · Oxford Bank
Apr 13, 2020
—
Rsb Estates LLC
Enl Building LLC
Warranty Deed
$4,150,000 · Live Oak Bkng Co
Aug 25, 2016
—
Enl Building LLC
—
Deed
related
$322,600 · The Huntington National Bank
Mar 2, 2006
$395,000
Enl Building LLC
Patricia Shink
Warranty Deed
—
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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