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Property profile & analytics
OFF-MARKET
Estimated value
$12,335,000
Outlet malls
22801 Harper Ave, Saint Clair Shores, MI 48080-1848
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-0204390
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1967
Construction
CONCRETE
Total area
127,371 SF
Lot
11.41 ac (497,020 SF)
Zoning code
B-3
APN
09-14-33-226-021
UPID
US43-0204390
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
-
Moneygram Bank Credit Union
-
Kroger Grocery & Convenience Store Food Market
-
Coinstar Kiosk - Bitcoin ATM Atm Currency Exchange Service
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Starbucks Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.49M
Comparable Approach
Comparable
$13.92M
Blend (final)
Blend
$12.34M
Owner & transaction history
Kroger Co Of Michigan A Michigan · 6 yrs held
Kroger Co Of Michigan A Michigan
since 2020
Last sale
$10.2M
4 recorded transactions
Zoning & alternative use
B-3 · Saint Clair Shores, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.1M
+48.9%
Medical building
$15.6M
+29.0%
Commercial (general)
$13.1M
+7.9%
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 Saint Clair Shores submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Saint Clair Shores 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
$11,285,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$15,690,000
6.5%
$14,485,000
7%
$13,450,000
Alternative Use
Use
Estimation
RETAIL STORES
$12,130,000
Current use
RESTAURANT
$18,055,000
Change: +49% · Conversion: Easy
MEDICAL BUILDING
$15,645,000
Change: +29% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,095,000
Change: +8% · Conversion: Easy
AUTO REPAIR, GARAGE
$10,955,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$10,740,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$12.34M
Range $11.10M – $13.57M · ±10% · vs last sale $10.20M (Jun 23 2020)
Last sale anchor
$10.20M
Jun 23 2020
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
$97 / 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
$283,250
Tax year 2022
Assessed value
$4,303,000
Assessed 2023
Previous assessed
$4,968,000
-13.4% YoY
Effective rate
6.58%
On assessed value
Total market value
$8,606,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1967
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Total area
127,371 SF
Lot
11.41 ac (497,020 SF)
Zoning code
B-3
APN
09-14-33-226-021
UPID
US43-0204390
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Saint Clair Shores, MI
Zoning B-3 · permitted uses
B-3 · Saint Clair Shores, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Saint Clair Shores. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$12.1M
RESTAURANT
Est. value
$18.1M
MEDICAL BUILDING
Est. value
$15.6M
COMMERCIAL (GENERAL)
Est. value
$13.1M
AUTO REPAIR, GARAGE
Est. value
$11.0M
OFFICE BUILDING
Est. value
$10.7M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE 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
1967
Construction
CONCRETE
Heating
FORCED AIR
Stories
1
Lot
11.41 ac
Current owner
From public records · entity-resolved
Kroger Co Of Michigan A Michigan
Entity
Free & Clear · 6 yrs held
Mailing address
1014 VINE ST, CINCINNATI, OH 45202-1141
Ownership since
2020
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
Jun 23, 2020
$10,200,000
Kroger Co Of Michigan A Michigan
Seritage Kmt Finance LLC
Grant Deed
—
Dec 11, 2019
—
Seriage Kmt Finance LLC
—
Grant Deed
related
$2,000,000,000 · Berkshire Hathaway Life Ins Co
Jul 29, 2015
—
Seritage Kmt Finance LLC
Kmart Corp
Grant Deed
related
—
Sep 22, 2004
—
St Clair Rev III LLC
St Clair Associates LLC
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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