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Property profile & analytics
OFF-MARKET
Office buildings
21631 Meyers Rd Oak Park, MI 48237-3105
Entity Owned
16-yr Hold
Free & Clear
Property ID
US43-0260661
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1961
Total area
5,913 SF
Lot
3.09 ac (134,600 SF)
Zoning code
LI
APN
52-25-32-177-038
UPID
US43-0260661
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
by Request
Owner & transaction history
Prairie Farms Dairy INC · 16 yrs held
Prairie Farms Dairy INC
since 2009
4 recorded transactions
Zoning & alternative use
LI · Oak Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
LI light industrial. The light industrial district regulations are established to provide sites for manufacturing plants, warehousing, research laboratories and similar uses. Development is limited to uses that can be carried out in an unobtrusive manner and maintain a compatibility with surrounding residential or commercial areas. B. IF industrial flex. The…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
274.04 ac
Source
code of ordinances
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 Oak Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Park 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$13,518
Tax year 2023
Assessed value
$279,400
Assessed 2023
Previous assessed
$279,400
+0.0% YoY
Effective rate
4.84%
On assessed value
Assessed land
$151,100
Assessed improvement
$128,300
Land market value
$302,200
Improvement market value
$256,600
Total market value
$558,800
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Stories
1
Total area
5,913 SF
Lot
3.09 ac (134,600 SF)
Zoning code
LI
APN
52-25-32-177-038
UPID
US43-0260661
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LI · Oak Park, MIZoning LI · permitted uses
LI · Oak Park, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
LI light industrial. The light industrial district regulations are established to provide sites for manufacturing plants, warehousing, research laboratories and similar uses. Development is limited to uses that can be carried out in an unobtrusive manner and maintain a compatibility with surrounding residential or commercial areas. B. IF industrial flex. The intent of the industrial flex district is to foster a mixture of live/work and maker space that complements and transitions to nearby commercial, residential, and industrial districts. Industrial flex areas are generally transitioning from industrial uses to a higher density, adaptive reuse or modern infill to accommodate an eclectic live/work mixture of uses.
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
274.04 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1961
Heating
FORCED AIR
Stories
1
Lot
3.09 ac
Current owner
From public records · entity-resolved
Prairie Farms Dairy INC
Entity
Free & Clear · 16 yrs held
Mailing address
PO BOX 25, HOOKSETT, NH 03106-0025
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 16, 2009
$100,000
Prairie Farms Dairy INC
Hlt Properties LLC
Warranty Deed
—
Feb 6, 2004
$69,500
Prairie Farms Dairy INC
Tom Davis & Sons Dairy Co
Grant Deed
$440,000 · Comerica Bank
Feb 6, 2004
$494,300
Prairie Farms Dairy INC
Tom Davis & Sons Dairy Co
Grant Deed
—
Dec 27, 2002
$32,500
Tom Davis & Sons Dairy Co
T M Leasing & Storage Co
Grant 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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