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Property profile & analytics
OFF-MARKET
Estimated value
$1,705,000
Drug stores
23111 Lahser Rd, Southfield, MI 48033-6027
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0252377
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2002
Total area
13,689 SF
Lot
1.61 ac (70,132 SF)
Zoning code
B-3
APN
76-24-28-477-034
UPID
US43-0252377
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Cosmetic Store
-
FedEx OnSite Postal Service Courier Service
-
Walgreens Pharmacy Pharmacy
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.27M
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.71M
Owner & transaction history
Exchangeright Net Leased Portfolio · 4 yrs held
Exchangeright Net Leased Portfolio
since 2021
2 recorded transactions
Zoning & alternative use
B-3 · Southfield, 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 Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield 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%
$2,455,000
6.5%
$2,265,000
7%
$2,105,000
Blend value · Realmo final
$1.71M
Range $1.53M – $1.88M · ±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
$125 / 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
$68,854
Tax year 2022
Assessed value
$1,052,410
Assessed 2022
Previous assessed
$1,052,410
+0.0% YoY
Effective rate
6.54%
On assessed value
Assessed land
$227,910
Assessed improvement
$824,500
Land market value
$455,820
Improvement market value
$1,649,000
Total market value
$2,104,820
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
2002
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
13,689 SF
Lot
1.61 ac (70,132 SF)
Zoning code
B-3
APN
76-24-28-477-034
UPID
US43-0252377
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Southfield, MI
Zoning B-3 · permitted uses
B-3 · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Southfield. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2002
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portfolio
Individual
Mailing address
1055 E COLORADO BLVD STE #310, PASADENA, CA 91106-2374
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 29, 2021
—
Exchangeright Net Leased Portfolio
Gni Of Lahser LLC
Assignment Of Lease (leasehold Sale)
$44,450,000 · Morgan Stanley Bank NA
—
—
Gni Of Lahser LLC
—
Deed Of Trust
related
$4,266,000 · Branch Banking & Trust Co
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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