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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Industrial properties
21440 Melrose Ave, Southfield, MI 48075-5631
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1121557
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1987
Total area
24,900 SF
Lot
1.81 ac (78,713 SF)
Zoning code
I-L
APN
76-24-34-327-034
UPID
US43-1121557
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
-
Tee Shirt Palace Custom T-Shirt Store T-Shirt Company
-
Teeshirtpalace Textile Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.82M
CAP Approach
CAP
$1.90M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.70M
Owner & transaction history
Katty 5 LLC · 5 yrs held
Katty 5 LLC
since 2020
Last sale
$1.5M
6 recorded transactions
Zoning & alternative use
I-L · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.3M
+14.9%
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 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
$1,820,000
ML approach
$1,820,000
CAP Approach
CAP Return
Estimation
6%
$2,055,000
6.5%
$1,900,000
7%
$1,760,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,015,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,315,000
Change: +15% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,900,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10% · vs last sale $1.48M (Dec 1 2020)
Last sale anchor
$1.48M
Dec 1 2020
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
$68 / 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
$49,677
Tax year 2022
Assessed value
$813,130
Assessed 2022
Previous assessed
$813,130
+0.0% YoY
Effective rate
6.11%
On assessed value
Assessed land
$79,510
Assessed improvement
$733,620
Land market value
$159,020
Improvement market value
$1,467,240
Total market value
$1,626,260
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
24,900 SF
Lot
1.81 ac (78,713 SF)
Zoning code
I-L
APN
76-24-34-327-034
UPID
US43-1121557
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-L · Southfield, MI
Zoning I-L · permitted uses
I-L · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$1.9M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
1987
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.81 ac
Current owner
From public records · entity-resolved
Katty 5 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
7301 OAK TREE DR, WEST BLOOMFIELD, MI 48322-3126
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2020
$1,475,000
Katty 5 LLC
Meirose Data Center 2 LLC
Warranty Deed
—
Nov 23, 2020
$862,500
Melrose Data Center 2 LLC
Manchester-southfield LLC
Warranty Deed
—
Jan 24, 2005
—
Technecenter Re I Southfield
Southfield Technecenter Ep LLC
Quit Claim Deed
related
$11,850,000 · Key Bank NA
Dec 23, 2003
—
Southfield Technecenter Ep LLC
—
Deed Of Trust
related
$33,000,000 · Bank Of America
Aug 2, 1999
—
Southfield Technecenter LLC
Southfield Technecenter Proper
Quit Claim Deed
related
$900,000 · Bank Of America
—
—
Southfield Technecenter Ep LLC
—
Deed Of Trust
related
$33,000 · Bank Of America
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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