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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Drug stores
22060 Outer Dr Dearborn, MI 48124-3932
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1169670
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1954
Total area
17,907 SF
Lot
1.47 ac (64,033 SF)
Zoning code
BA
APN
82 09 274 18 001
UPID
US43-1169670
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
CVS Pharmacy Pharmacy
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
UPS Access Point location Courier Service Postal Service
-
CVS Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$710k
Owner & transaction history
Lawrence H Kohlenberg · 3 yrs held
Lawrence H Kohlenberg
since 2022
4 recorded transactions
Zoning & alternative use
BA · Dearborn, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
RESIDENTIAL DISTRICTS[1] ARTICLE 11.00 - R-P, RESIDENTIAL 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 - B-B, COMMUNITY BUSINESS DISTRICT[1] ARTICLE 16.00 - B-C, GENERAL BUSINESS DISTRICT[1] ARTICL…
Zone name
Local Business District
General category
COMMERCIAL
Zone area
185.10 ac
Source
Sec. 1.01. - Short title.
Top alternative use upside
Office building
$2.6M
+26.0%
Restaurant
$2.6M
+21.9%
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 Dearborn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dearborn 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
RETAIL STORES
$2,100,000
Current use
OFFICE BUILDING
$2,645,000
Change: +26% · Conversion: Easy
RESTAURANT
$2,560,000
Change: +22% · Conversion: Easy
MEDICAL BUILDING
$1,885,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,820,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$40 / 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
$62,409
Tax year 2023
Assessed value
$954,200
Assessed 2024
Previous assessed
$954,200
+0.0% YoY
Effective rate
6.54%
On assessed value
Total market value
$1,908,400
Applied tax rate
82,030.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1954
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
17,907 SF
Lot
1.47 ac (64,033 SF)
Zoning code
BA
APN
82 09 274 18 001
UPID
US43-1169670
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
BA · Dearborn, MIZoning BA · permitted uses
BA · Dearborn, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
RESIDENTIAL DISTRICTS[1] ARTICLE 11.00 - R-P, RESIDENTIAL 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 - B-B, COMMUNITY BUSINESS DISTRICT[1] ARTICLE 16.00 - B-C, GENERAL BUSINESS DISTRICT[1] ARTICLE 17.00 - B-D, DOWNTOWN BUSINESS DISTRICT ARTICLE 18.00 - I-A, LIGHT INDUSTRIAL DIS
Zone name
Local Business District
General category
COMMERCIAL
Zone area
185.10 ac
Source
Sec. 1.01. - Short title.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.6M
RESTAURANT
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES Current
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1954
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.47 ac
Current owner
From public records · entity-resolved
Lawrence H Kohlenberg
Individual
Free & Clear · 3 yrs held
Mailing address
211 W FT ST FL 15TH, DETROIT, MI 48226-3235
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 30, 2022
—
Lawrence H Kohlenberg
Lawrence H Kohlenberg
Intrafamily Transfer
related
—
Apr 18, 2022
—
David B Kasle
Harry Suit Co
Quit Claim Deed
related
—
Feb 16, 2016
—
David Moss
Moss,robert W & Susan G
Quit Claim Deed
related
—
Jun 27, 2013
—
Daniel E Levenson
Hudson Karen P
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.
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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