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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Commercial real estate
23111 21st Mile Rd, Macomb, MI 48042-5182
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1393914
Property summary
AI-generated overview
Park Lane Plaza, located at 23111 21 Mile Rd in Macomb, Michigan, 48042, offers a fantastic 1,000 square foot office space for lease. This is the last available suite in a vibrant retail center experiencing high traffic volume and excellent visibility on 21 Mile Road. The property is a 5,100 square foot building with multiple tenants, including established businesses such as Little Caesars, Create A Cut Salon, and Premier Senior Home Care, creating a strong and diverse tenant mix. The suite is suitable for a variety of office uses, including traditional, executive, and creative office spaces. The space is immediately available and boasts a prominent pylon sign facing 21 Mile Road, ensuring maximum exposure for your business. The minimum divisible space is 1,000 square feet, and the maximum contiguous space available is also 1,000 square feet. This presents a unique opportunity to establish a presence in a thriving commercial center with high foot traffic and strong neighboring businesses. Don't miss out on this last remaining space!
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2007
Total area
4,896 SF
Lot
0.99 ac (43,212 SF)
Zoning code
C2
APN
20-08-25-351-025
UPID
US43-1393914
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
-
Bitcoin ATM Macomb - Coinhub Atm Currency Exchange Service
-
smokers avenue (Bike/Boat/Book/etc) Store
-
Fabio Cleaners (Bike/Boat/Book/etc) Store
-
3 Brothers Smoke Shop (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$895k
Comparable Approach
Comparable
$829k
Blend (final)
Blend
$950k
Owner & transaction history
Park Place Plaza LLC · 1 yrs held
Park Place Plaza LLC
since 2025
Last sale
$1.1M
2 recorded transactions
Zoning & alternative use
C2 · Macomb, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$600,000
+19.5%
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 Macomb submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Macomb 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
$945,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$970,000
6.5%
$895,000
7%
$830,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$600,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $1.10M (May 13 2025)
Last sale anchor
$1.10M
May 13 2025
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
$194 / 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
$13,657
Tax year 2022
Assessed value
$371,100
Assessed 2023
Previous assessed
$368,500
+0.7% YoY
Effective rate
3.68%
On assessed value
Total market value
$742,200
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Stories
1
Total area
4,896 SF
Lot
0.99 ac (43,212 SF)
Zoning code
C2
APN
20-08-25-351-025
UPID
US43-1393914
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C2 · Macomb, MI
Zoning C2 · permitted uses
C2 · Macomb, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Macomb. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$600,000
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
2007
Heating
FORCED AIR
Stories
1
Lot
0.99 ac
Current owner
From public records · entity-resolved
Park Place Plaza LLC
Entity
Free & Clear · 1 yrs held
Mailing address
5365 N ADAMS RD, BLOOMFIELD HILLS, MI 48304-2000
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2025
—
Park Lane Plaza LLC
—
Deed
related
$550,000 · Community Choice Cu
May 13, 2025
$1,100,000
Park Place Plaza LLC
Nicholas Lubnik
Warranty Deed
—
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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