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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Drug stores
21211 Harper Ave Saint Clair Shores, MI 48080-2208
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-0043767
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2005
Total area
14,762 SF
Lot
1.46 ac (63,467 SF)
Zoning code
B-3
APN
09-14-33-453-019
UPID
US43-0043767
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy
-
Christopher Witting, RPH Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
COVID-19 Drive-Thru Testing at Walgreens Medical Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$545k
Owner & transaction history
Exchangeright Net Leased Portfolio · 5 yrs held
Exchangeright Net Leased Portfolio
since 2020
5 recorded transactions
Zoning & alternative use
B-3 · Saint Clair Shores, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Family Residential District (Low-Rise). RM-2 Multiple-Family Residential District (High-Rise). O-1 Office-Service District. CR Commercial Recreation. B-1 Local Business District. B-2 Planned Community Business District. B-3 General Business District. CLD Central Lakefront Development District. LI Light Industrial District. P-1 Vehicular Parking District. R-F…
Zone name
General Business District
General category
COMMERCIAL
Zone area
112.45 ac
Top alternative use upside
Restaurant
$2.1M
+48.9%
Medical building
$1.8M
+29.0%
Commercial (general)
$1.5M
+7.9%
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 Saint Clair Shores submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Clair Shores 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
RETAIL STORES
$1,405,000
Current use
RESTAURANT
$2,095,000
Change: +49% · Conversion: Easy
MEDICAL BUILDING
$1,815,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,520,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$37 / 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
$54,194
Tax year 2022
Assessed value
$1,011,900
Assessed 2023
Previous assessed
$898,100
+12.7% YoY
Effective rate
5.36%
On assessed value
Total market value
$2,023,800
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Stories
1
Total area
14,762 SF
Lot
1.46 ac (63,467 SF)
Zoning code
B-3
APN
09-14-33-453-019
UPID
US43-0043767
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Saint Clair Shores, MIZoning B-3 · permitted uses
B-3 · Saint Clair Shores, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Family Residential District (Low-Rise). RM-2 Multiple-Family Residential District (High-Rise). O-1 Office-Service District. CR Commercial Recreation. B-1 Local Business District. B-2 Planned Community Business District. B-3 General Business District. CLD Central Lakefront Development District. LI Light Industrial District. P-1 Vehicular Parking District. R-F Residential Facilities District. (Comp. Ords. 1988, § 15.031(35.4); chap. 35 eff.
Zone name
General Business District
General category
COMMERCIAL
Zone area
112.45 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
RESTAURANT
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (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
2005
Heating
FORCED AIR
Stories
1
Lot
1.46 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2020
—
Exchangeright Net Leased Portfolio
Erh Nnn 1 LLC
Deed
—
Jan 16, 2020
—
Erh Nnn 1 LLC
—
Deed
related
$45,000,000 · Wells Fargo Bank NA
Dec 7, 2015
—
Erh Walgreens LLC
Dcwi Six LLC
Deed
$20,000,000 · Wells Fargo Bank NA
Feb 2, 2006
—
Dcwi Six LLC
—
Deed Of Trust
related
$21,160,000 · Gmac Commercial Mortgage Bank
Jan 9, 2006
$5,887,000
Dcwi Six LLC
J & N Realty Investment LLC
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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