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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Manufacturing properties
21721 Republic Ave, Oak Park, MI 48237-2365
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1353219
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1946
Total area
17,375 SF
Lot
2 ac (87,120 SF)
Zoning code
LI
APN
52-25-33-152-044
UPID
US43-1353219
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
$1.33M
CAP Approach
CAP
$1.30M
Comparable Approach
Comparable
$1.54M
Blend (final)
Blend
$1.30M
Owner & transaction history
Republic Oak Park LLC · 3 yrs held
Republic Oak Park LLC
since 2023
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
LI · Oak Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+10.6%
Restaurant
$1.6M
+10.5%
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
Method
Estimation
Statistic approach
$1,315,000
ML approach
$1,330,000
CAP Approach
CAP Return
Estimation
6%
$1,410,000
6.5%
$1,300,000
7%
$1,205,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,435,000
Current use
COMMERCIAL (GENERAL)
$1,585,000
Change: +11% · Conversion: Difficult
RESTAURANT
$1,585,000
Change: +11% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,315,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$1,200,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.15M (Apr 21 2023)
Last sale anchor
$1.15M
Apr 21 2023
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
$75 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$13,181
Tax year 2023
Assessed value
$312,600
Assessed 2024
Previous assessed
$262,900
+18.9% YoY
Effective rate
4.22%
On assessed value
Assessed land
$109,800
Assessed improvement
$202,800
Land market value
$219,600
Improvement market value
$405,600
Total market value
$625,200
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1946
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
17,375 SF
Lot
2 ac (87,120 SF)
Zoning code
LI
APN
52-25-33-152-044
UPID
US43-1353219
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LI · Oak Park, MI
Zoning 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
Oak Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1946
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
2 ac
Current owner
From public records · entity-resolved
Republic Oak Park LLC
Entity
Mailing address
640 N OLD WOODWARD AVE STE #301, BIRMINGHAM, MI 48009-3883
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2023
$1,150,000
Republic Oak Park LLC
Event Design Center LLC
Warranty Deed
$920,000 · First Merchants Bank
Jan 13, 2023
$630,000
Event Design Center LLC
Mabul Services LLC
Warranty Deed
$500,000 · B & W Real Property Associates LLC
May 4, 2018
—
Mabul Services LLC
—
Deed
related
$395,000 · Chemical Bank
Jan 12, 2018
$362,500
Mabul Services LLC
New Us North LLC
Warranty Deed
—
Dec 8, 2017
$2,442
New Us North LLC
Nimchonok,harold & Barbara
Quit Claim Deed
related
—
Dec 8, 2017
—
Barbara Nimchonok
Us North INC
Quit Claim Deed
related
—
Oct 20, 2016
—
New Us North LLC
Nimchonok,harold & Barbara
Quit Claim Deed
related
—
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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