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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Retail space
21834 Schoenherr Rd Warren, MI 48089-2836
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-0671904
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1990
Total area
9,560 SF
Lot
0.88 ac (38,376 SF)
Zoning code
MZ
APN
12-13-36-152-059
UPID
US43-0671904
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
-
Dollar General Discount Store
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.06M
Owner & transaction history
Bmg Yield Fund II LLC · 2 yrs held
Bmg Yield Fund II LLC
since 2023
Last sale
$1.0M
6 recorded transactions
Zoning & alternative use
MZ · Warren, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$905,000
+19.6%
Restaurant
$825,000
+9.0%
Medical building
$770,000
+1.8%
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 Warren submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Warren 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
$1,060,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$760,000
Current use
OFFICE BUILDING
$905,000
Change: +20% · Conversion: Easy
RESTAURANT
$825,000
Change: +9% · Conversion: Easy
MEDICAL BUILDING
$770,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$660,000
Change: -13% · Conversion: Difficult
WAREHOUSE, STORAGE
$645,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10% · vs last sale $1.02M (Jul 26 2023)
Last sale anchor
$1.02M
Jul 26 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
$111 / 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
$19,087
Tax year 2022
Assessed value
$347,850
Assessed 2023
Previous assessed
$347,850
+0.0% YoY
Effective rate
5.49%
On assessed value
Total market value
$695,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Stories
1
Total area
9,560 SF
Lot
0.88 ac (38,376 SF)
Zoning code
MZ
APN
12-13-36-152-059
UPID
US43-0671904
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
MZ · Warren, MI
Zoning MZ · permitted uses
MZ · Warren, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Warren. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$760,000
OFFICE BUILDING
Est. value
$905,000
RESTAURANT
Est. value
$825,000
MEDICAL BUILDING
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$660,000
WAREHOUSE, STORAGE
Est. value
$645,000
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1990
Heating
FORCED AIR
Stories
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Bmg Yield Fund II LLC
Entity
Mailing address
501 E MAIN ST #1000, RICHMOND, VA 23219-2407
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2024
—
Bmg Yield Fund II LLC
—
Deed
related
$55,000,000 · Wells Fargo Bank NA
Jul 26, 2023
—
Bmg Yield Fund II LLC
Blue Sea Management LLC
Assignment Of Lease (leasehold Sale)
—
Jul 26, 2023
$1,024,000
Bmg Yield Fund II LLC
Blue Sea Management LLC
Warranty Deed
—
Sep 17, 2021
—
Blue Sea Management LLC
—
Deed
related
$500,000 · Alliance Catholic Cu
Aug 16, 2011
$290,000
Blue Sea Management LLC
Kathawa,gorgis
Warranty Deed
—
Aug 16, 2011
—
Gorgis Kathawa
Kathawa,fadila
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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