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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Manufacturing properties
21151 Meyers Rd, Oak Park, MI 48237-3209
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-5165720
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1955
Total area
13,164 SF
Lot
1.84 ac (80,150 SF)
Zoning code
LI
APN
52-25-32-376-008
UPID
US43-5165720
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
$985k
Comparable Approach
Comparable
$471k
Blend (final)
Blend
$740k
Owner & transaction history
Ltar Properties LLC · 7 yrs held
Ltar Properties LLC
since 2018
7 recorded transactions
Zoning & alternative use
LI · Oak Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+10.6%
Restaurant
$1.2M
+10.5%
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 Oak Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Park 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%
$1,065,000
6.5%
$985,000
7%
$915,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,085,000
Current use
COMMERCIAL (GENERAL)
$1,200,000
Change: +11% · Conversion: Difficult
RESTAURANT
$1,200,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$995,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$910,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$740k
Range $666k – $814k · ±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
$56 / 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
$106
Tax year 2023
Assessed value
$234,800
Assessed 2024
Previous assessed
$212,900
+10.3% YoY
Effective rate
0.05%
On assessed value
Assessed land
$101,000
Assessed improvement
$133,800
Land market value
$202,000
Improvement market value
$267,600
Total market value
$469,600
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1955
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
13,164 SF
Lot
1.84 ac (80,150 SF)
Zoning code
LI
APN
52-25-32-376-008
UPID
US43-5165720
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LI · Oak Park, MI
Zoning LI · permitted uses
LI · Oak Park, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oak Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$995,000
RETAIL STORES
Est. value
$910,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1955
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.84 ac
Current owner
From public records · entity-resolved
Ltar Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
21151 MEYERS RD, OAK PARK, MI 48237-3209
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2018
—
Ltar Properties LLC
Kids Investments INC
Warranty Deed
—
Jun 21, 2012
$1,220,243
Ltar Properties LLC
Kids Invesments INC
Grant Deed
—
Jan 5, 2009
—
Ltar Properties LLC
Kids Investments INC
Grant Deed
—
Sep 19, 2007
$13,528
Kids Investments INC
Oakland County Treasurer
Grant Deed
—
Jul 26, 2005
—
Kids Investments INC
Kids Investment
Quit Claim Deed
related
$247,000 · Fifth Third Bank
Nov 27, 2000
$160,000
Kids Investment Co
Manuel S Yatooma Estate
Grant Deed
—
—
—
Kids Investments INC
—
Deed Of Trust
related
$224,975 · Fifth Third Bank
—
—
Kids Investments INC
—
Deed Of Trust
related
$250,000 · Citizens Federal Bank Fsb
—
—
Kids Investments Co
—
Deed Of Trust
related
$550,000 · Citizens Federal Bank Fsb
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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