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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Showrooms
21200 8th Mile Rd Southfield, MI 48075-5666
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1749261
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1958
Total area
66,587 SF
Lot
1.19 ac (52,011 SF)
Zoning code
I-1
APN
76-24-34-376-020
UPID
US43-1749261
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
by Request
Blend (final)
Blend
$765k
Owner & transaction history
Salt Mine Of Southfield LLC · 7 yrs held
Salt Mine Of Southfield LLC
since 2019
6 recorded transactions
Zoning & alternative use
I-1 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote industrial uses
Zone name
Industrial
General category
INDUSTRIAL
Zone area
364.77 ac
Source
Realmo
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
Blend value · Realmo final
$765k
Range $689k – $842k · ±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
$11 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$31,027
Tax year 2020
Assessed value
$646,930
Assessed 2022
Previous assessed
$646,930
+0.0% YoY
Effective rate
4.80%
On assessed value
Assessed land
$110,500
Assessed improvement
$536,430
Land market value
$221,000
Improvement market value
$1,072,860
Total market value
$1,293,860
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1958
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
66,587 SF
Lot
1.19 ac (52,011 SF)
Zoning code
I-1
APN
76-24-34-376-020
UPID
US43-1749261
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Southfield, MIZoning 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
Zoning description
The intent of this zone is to promote industrial uses
Zone name
Industrial
General category
INDUSTRIAL
Zone area
364.77 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1958
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
1.19 ac
Current owner
From public records · entity-resolved
Salt Mine Of Southfield LLC
Entity
Mailing address
21100 COOLIDGE HWY, OAK PARK, MI 48237-3231
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Sep 20, 2019
—
Salt Mine Of Southfield LLC
—
Grant Deed
related
$2,600,000 · Chemical Bk
Jul 9, 2019
—
Salt Mine Of Southfield LLC
Eight Mile Southfield LLC
Warranty Deed
—
Jan 4, 2019
—
Eight Mile Southfield LLC
Kby INC
Warranty Deed
—
Mar 28, 2013
—
Kby INC
—
Loan Modification
related
$3,500,000 · Fifth Third Bank
Nov 5, 1999
—
Kby INC
—
Deed Of Trust
related
$2,940,000 · Standard Federal Bank
—
—
Kby INC
—
Deed Of Trust
related
$1,000,000 · Fifth Third Bank
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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