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Property profile & analytics
OFF-MARKET
Estimated value
$3,365,000
Office Spaces
209 6th St, Royal Oak, MI 48067-3832
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0135975
Property summary
AI-generated overview
This exceptional 6,100 square foot office space is available for sublease in the heart of downtown Royal Oak, Michigan. Located at 209 W 6th Street, this single-tenant suite occupies the entire second floor, offering unparalleled privacy and convenience. The space boasts a modern and spacious build-out, featuring high loft ceilings and abundant natural light from windows lining the exterior walls. Enjoy breathtaking views of the vibrant city. The property is ideally situated within walking distance of numerous restaurants and shops, providing employees with a wealth of lunchtime and after-work options. On-site visitor parking is available, supplemented by additional municipal parking lots nearby for added convenience. The sublease term is for 24 months. Furniture is available for inclusion in the lease. Immediate occupancy is possible, making this an exceptional opportunity for a business seeking a move-in ready, prestigious office location in a thriving downtown area. The property is a traditional office space, perfect for a variety of business needs.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
2001
Total area
12,000 SF
Lot
0.23 ac (10,106 SF)
Zoning code
CBD
APN
72-25-21-283-005
UPID
US43-0135975
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
-
Ascend Performance Materials Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.97M
Blend (final)
Blend
$3.37M
Owner & transaction history
Z On Sixth LLC · 4 yrs held
Z On Sixth LLC
since 2022
Last sale
$3.6M
7 recorded transactions
Zoning & alternative use
CBD · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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
$3,765,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,265,000
Current use
RESTAURANT
$2,075,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$2,025,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$3.37M
Range $3.03M – $3.70M · ±10% · vs last sale $3.55M (May 12 2022)
Last sale anchor
$3.55M
May 12 2022
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
$280 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$60,042
Tax year 2021
Assessed value
$1,677,100
Assessed 2024
Previous assessed
$947,110
+77.1% YoY
Effective rate
3.58%
On assessed value
Total market value
$3,354,200
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Total area
12,000 SF
Lot
0.23 ac (10,106 SF)
Zoning code
CBD
APN
72-25-21-283-005
UPID
US43-0135975
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
CBD · Royal Oak, MI
Zoning CBD · permitted uses
CBD · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.3M
RESTAURANT
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
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
2001
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Z On Sixth LLC
Entity
Mailing address
40020 W 12TH MILE RD, NOVI, MI 48377-3612
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
$3,550,000
Z On Sixth LLC
Chase Ivanhoe LLC
Deed
$2,662,500 · The State Bank
Mar 24, 2017
$1,800,000
Chase Invahoe LLC
Commercial Joint Development INC
Warranty Deed
—
Aug 31, 2016
—
Commercial Joint Dev INC
—
Deed
related
$350,000 · Pnc Bk
Jul 19, 2001
—
Commercial Joint Dev INC
—
Trustees Deed
related
$1,840,000 · Citizens Federal Bank Fsb
Nov 29, 1999
$800,000
Commercial Joint Dev INC
Cadillac Cafe Land Co Of Royal
Grant Deed
$800,000 · Comerica Bank
—
—
Commercial Joint Dev INC
—
Deed Of Trust
related
$2,600,000 · Pnc Bk/nj
—
—
Commercial Joint Dev INC
—
Loan Modification
related
$350,000 · Pnc Bk
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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