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Property profile & analytics
OFF-MARKET
Estimated value
$3,400,000
Specialty properties
221 Main St Royal Oak, MI 48067-4136
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1079852
Property profile
Verified
Property type
Specialty properties
Use group
COMMERCIAL MISC
Year built
1968
Total area
18,398 SF
Lot
0.76 ac (33,106 SF)
Zoning code
PUD
APN
72-25-16-487-071
UPID
US43-1079852
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
-
Michelle Kazmierski Foster Care Service Social Service Agency
-
Seniors Wellness Group Medical Clinic
-
Rachel Ortega Physician
-
Lisa Caffee Physician
-
Morgan Michael J Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.47M
Blend (final)
Blend
$3.40M
Owner & transaction history
Rj Aj Investments LLC · 8 yrs held
Rj Aj Investments LLC
since 2018
7 recorded transactions
Zoning & alternative use
PUD · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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
COMMERCIAL (GENERAL)
$3,470,000
Current use
RESTAURANT
$3,185,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$3,105,000
Change: -11% · Conversion: Easy
MEDICAL BUILDING
$2,905,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$3.40M
Range $3.06M – $3.74M · ±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
$185 / 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
$162,517
Tax year 2023
Previous assessed
$514,080
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
Specialty properties
Use group
COMMERCIAL MISC
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Stories
2
Total area
18,398 SF
Lot
0.76 ac (33,106 SF)
Zoning code
PUD
APN
72-25-16-487-071
UPID
US43-1079852
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
PUD · Royal Oak, MI
Zoning PUD · permitted uses
PUD · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.5M
RESTAURANT
Est. value
$3.2M
RETAIL STORES
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$2.9M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
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
1968
Heating
FORCED AIR
Stories
2
Lot
0.76 ac
Current owner
From public records · entity-resolved
Rj Aj Investments LLC
Entity
Free & Clear · 8 yrs held
Mailing address
5000 E GRAND RIV AVE, HOWELL, MI 48843-9101
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Sep 6, 2022
—
Ll Real Estate LLC
—
Deed
related
$16,500,000 · The Huntington National Bank
Oct 20, 2021
—
Ll Real Estate LLC
—
Deed
related
—
Feb 28, 2019
—
Ll Real Estate LLC
—
Grant Deed
related
$14,200,000 · Huntington Nat'l Bk
Jul 17, 2018
$1,200,000
Rj Aj Investments LLC
Diamond Investments LLC
Warranty Deed
—
Jul 17, 2018
—
Ll Real Estate LLC
Rj Aj Investments LLC
Warranty Deed
—
Oct 25, 2002
—
Rj Aj Investments LLC
Diamond Investments LLC
Grant Deed
related
—
Mar 27, 2001
—
Diamond Investments LLC
Ford Leasing Development Co
Grant 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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