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Property profile & analytics
FOR SALE
Industrial properties
2319 Bishop Cir E, Dexter, MI 48130
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-1235677
For Sale
1 / 26
$5,895,000
2319 Bishop Cir E, Dexter, MI 48130
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
68,000 SF
Lot
11.61 ac (505,732 SF)
Zoning code
RD
APN
08-08-07-125-025
UPID
US43-1235677
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
$5.89M
Blend (final)
Blend
$5.90M
Owner & transaction history
Michigan Certifed Development Corp · 3 yrs held
Michigan Certifed Development Corp
since 2023
7 recorded transactions
Zoning & alternative use
RD · Dexter, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.7M
+119.7%
Retail stores
$7.8M
+76.5%
Warehouse, storage
$5.8M
+30.6%
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 Dexter submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dexter 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
INDUSTRIAL (GENERAL)
$4,430,000
Current use
COMMERCIAL (GENERAL)
$9,730,000
Change: +120% · Conversion: Difficult
RETAIL STORES
$7,820,000
Change: +77% · Conversion: Moderate
WAREHOUSE, STORAGE
$5,785,000
Change: +31% · Conversion: Easy
Blend value · Realmo final
$5.90M
Range $5.31M – $6.48M · ±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
$87 / 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
$134,422
Tax year 2023
Assessed value
$2,585,200
Assessed 2024
Previous assessed
$2,396,400
+7.9% YoY
Effective rate
5.20%
On assessed value
Total market value
$5,170,400
Applied tax rate
8.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Heating
FORCED AIR
Total area
68,000 SF
Lot
11.61 ac (505,732 SF)
Zoning code
RD
APN
08-08-07-125-025
UPID
US43-1235677
Jurisdiction
WASHTENAW
Zoning & alternative use
RD · Dexter, MI
Zoning RD · permitted uses
RD · Dexter, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dexter. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$9.7M
RETAIL STORES
Est. value
$7.8M
WAREHOUSE, STORAGE
Est. value
$5.8M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
Heating
FORCED AIR
Lot
11.61 ac
Current owner
From public records · entity-resolved
Michigan Certifed Development Corp
Entity
Mailing address
2319 BISHOP CIR E, DEXTER, MI 48130-1567
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Mar 9, 2023
—
Michigan Certifed Development Corp
Northern United Brewing Company LLC
Assignment Of Lease (leasehold Sale)
$2,013,000 · Michigan Certified Dev Corp
Nov 29, 2022
—
Northern United Holdings LLC
—
Deed
related
$1,967,122 · Oxford Bank
Jan 7, 2021
—
Northern United Holdings LLC
—
Deed
related
$1,558,698 · Pnc Bk
Jul 8, 2013
—
Northern United Holdings LLC
Northern United Holdings LLC
Quit Claim Deed
related
$1,638,000 · Community Dev Commission
Aug 6, 2012
—
Northern United Real Estate Ll
Martinrea Industries INC
Warranty Deed
$3,746,147 · Comerica Bk
Feb 11, 2002
—
Cerberus Pilot Acquisition III
Pilot Industries INC
Quit Claim Deed
related
—
—
—
Northern United Holdings LLC
—
Deed Of Trust
related
$1,558,698 · Pnc Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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