Property profile

21531 Michigan Ave Dearborn, MI 48124

OFF-MARKET
Automotive properties
Property ID
US43-1521705
7,400 SF 0.75 ac lot Built 1967
Entity Owned 4-yr Hold Absentee Owner ~ Est. High Equity
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Property profile

Verified
Property type Automotive properties
Use group VEHICLE SALES, RENTALS
Year built 1967
Total area 7,400 SF
Lot 0.75 ac (32,670 SF)
Zoning code BB
APN 82 09 222 04 009
UPID US43-1521705

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Car Dealership
  • Auto Parts Store
  • Auto Repair Shop
  • Auto Repair Shop

Location

21531 Michigan Ave Dearborn, MI 48124-2349
Dearborn metro Census 574900 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$869k
Blend (final) Blend
$460k

Owner & transaction history

since 2022
2 recorded transactions
2022
$5.1M
2022
Price N/A

Zoning & alternative use

BB · Dearborn, MI
Zoning description

SIDENTIAL PRESERVATION DISTRICT ARTICLE 12.00 - R-C, R-D, AND R-E MULTIPLE FAMILY RESIDENTIAL DISTRICTS[1] ARTICLE 13.00 - O-S, BUSINESS OFFICE DISTRICT[1] ARTICLE 14.00 - B-A, LOCAL BUSINESS DISTRICT[1] ARTICLE 15.00 -…

General category COMMERCIAL
Top alternative use upside
Office building $1.1M +106.0%
Restaurant $1.1M +99.3%
Retail stores $870,000 +63.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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