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Property profile & analytics
FOR LEASE
Office Spaces
215 S Center St, Royal Oak, MI 48067
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0105890
For Lease
1 / 2
$15 SF/Yr
215 S Center St, Royal Oak, MI 48067
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1956
Total area
5,257 SF
Lot
0.3 ac (13,112 SF)
Zoning code
CBD
APN
72-25-21-233-003
UPID
US43-0105890
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
-
Fred A. and Barbara M. Erb Family Foundation Charitable Organization
-
Factory Detroit, Inc. Marketing & Advertising Advertising Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.31M
Owner & transaction history
Csv Property Company LLC · 10 yrs held
Csv Property Company LLC
since 2015
3 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
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
COMMERCIAL (GENERAL)
$990,000
Current use
RESTAURANT
$910,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$885,000
Change: -11% · Conversion: Easy
MEDICAL BUILDING
$830,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.31M
Range $1.17M – $1.44M · ±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
$248 / 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
$44,457
Tax year 2021
Assessed value
$997,720
Assessed 2024
Previous assessed
$743,770
+34.1% YoY
Effective rate
4.46%
On assessed value
Total market value
$1,995,440
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
For Lease
Year built
1956
Heating
FORCED AIR
Stories
1
Total area
5,257 SF
Lot
0.3 ac (13,112 SF)
Zoning code
CBD
APN
72-25-21-233-003
UPID
US43-0105890
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
$990,000
RESTAURANT
Est. value
$910,000
RETAIL STORES
Est. value
$885,000
MEDICAL BUILDING
Est. value
$830,000
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
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
1956
Heating
FORCED AIR
Stories
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Csv Property Company LLC
Entity
Mailing address
210 E 3RD ST, ROYAL OAK, MI 48067-2638
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2015
—
Csv Property Company LLC
Center Street Ventures LLC
Warranty Deed
—
Apr 7, 2009
$2,040,624
Citizens Bk
Sheriff Of Oakland County
Trustees Deed
related
—
Dec 29, 2004
$4,000,000
Center Street Ventures LLC
Citizens Bank
Warranty Deed
$3,000,000 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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