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Property profile & analytics
FOR LEASE
Strip malls
23001 Coolidge Hwy, Oak Park, MI 48237
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1858019
For Lease
1 / 2
$11 SF/Yr
23001 Coolidge Hwy, Oak Park, MI 48237
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1953
Total area
85,429 SF
Lot
7.07 ac (307,969 SF)
Zoning code
B-2
APN
52-25-30-477-007
UPID
US43-1858019
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.13M
Blend (final)
Blend
$7.28M
Owner & transaction history
Sterling Holdings LLC · 5 yrs held
Sterling Holdings LLC
since 2021
7 recorded transactions
Zoning & alternative use
B-2 · Oak Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.8M
+20.5%
Restaurant
$7.8M
+20.4%
Industrial (general)
$7.1M
+9.0%
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
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
NEIGHBORHOOD: SHOPPING CENTER
$6,470,000
Current use
COMMERCIAL (GENERAL)
$7,800,000
Change: +21% · Conversion: Easy
RESTAURANT
$7,795,000
Change: +20% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$7,050,000
Change: +9% · Conversion: Difficult
RETAIL STORES
$5,900,000
Change: -9% · Conversion: Easy
MEDICAL BUILDING
$5,385,000
Change: -17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,180,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$7.28M
Range $6.55M – $8.01M · ±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
$85 / 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
$179,695
Tax year 2023
Assessed value
$2,707,800
Assessed 2023
Previous assessed
$2,707,800
+0.0% YoY
Effective rate
6.64%
On assessed value
Assessed land
$659,300
Assessed improvement
$2,048,500
Land market value
$1,318,600
Improvement market value
$4,097,000
Total market value
$5,415,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1953
Heating
FORCED AIR
Stories
1
Total area
85,429 SF
Lot
7.07 ac (307,969 SF)
Zoning code
B-2
APN
52-25-30-477-007
UPID
US43-1858019
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Oak Park, MI
Zoning B-2 · permitted uses
B-2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.5M
COMMERCIAL (GENERAL)
Est. value
$7.8M
RESTAURANT
Est. value
$7.8M
INDUSTRIAL (GENERAL)
Est. value
$7.1M
RETAIL STORES
Est. value
$5.9M
MEDICAL BUILDING
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1953
Heating
FORCED AIR
Stories
1
Lot
7.07 ac
Current owner
From public records · entity-resolved
Sterling Holdings LLC
Entity
Mailing address
31000 NORTHWESTERN HWY STE #200, FARMINGTON HILLS, MI 48334-2586
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2021
—
Sterling Holdings LLC
Cadence Oak Park Mi LP
Deed
—
Dec 11, 2017
—
Cadence Oak Park Mi LP
Oak Park Plaza LLC
Warranty Deed
$6,470,600 · A10 Capital LLC
Aug 24, 2016
—
Oak Park Plaza LLC
—
Deed
related
$6,960,000 · One Bk&tr
Feb 21, 2007
—
City Of Oak Park
Oak Park Plaza LLC
Quit Claim Deed
related
—
Jan 9, 2007
—
Oak Park Plaza LLC
Berger Of Lewiston Assocs
Warranty Deed
related
—
—
—
Fdg C39gl Mi Oak Park LLC
—
Deed Of Trust
related
$1,897,319 · Wells Fargo Bk Nw NA (ce)
—
—
Oak Park Plaza LLC
—
Deed Of Trust
related
$6,750,000 · Lasalle National Bank
—
—
Oak Park Plaza LLC
—
Deed Of Trust
related
$6,960,000 · One Bk&tr
—
—
Berger/lewiston Associates LP
—
Deed Of Trust
related
$2,000,000 · Union Central Life Insurance
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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