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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Manufacturing properties
23290 Commerce Dr, Farmington Hills, MI 48335-2724
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1365851
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1980
Total area
42,906 SF
Lot
2.56 ac (111,601 SF)
Zoning code
II
APN
22-23-30-327-016
UPID
US43-1365851
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
by Request
Blend (final)
Blend
$1.94M
Owner & transaction history
Doris Road Partners LLC · 11 yrs held
Doris Road Partners LLC
since 2014
6 recorded transactions
Zoning & alternative use
II · Farmington Hills, 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 Farmington Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington Hills 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$45 / 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
$33,273
Tax year 2023
Assessed value
$1,298,230
Assessed 2024
Previous assessed
$1,042,610
+24.5% YoY
Effective rate
2.56%
On assessed value
Assessed land
$180,110
Assessed improvement
$1,118,120
Land market value
$360,220
Improvement market value
$2,236,240
Total market value
$2,596,460
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1980
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
42,906 SF
Lot
2.56 ac (111,601 SF)
Zoning code
II
APN
22-23-30-327-016
UPID
US43-1365851
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Farmington Hills, MI
Zoning II · permitted uses
II · Farmington Hills, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington Hills. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1980
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.56 ac
Current owner
From public records · entity-resolved
Doris Road Partners LLC
Entity
Mailing address
912 CENTENNIAL WAY STE #340, LANSING, MI 48917-8246
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2014
—
Doris Road Partners LLC
Gccfc 2005-gg5 Middlebelt Indu
Grant Deed
—
Jun 21, 2012
$2,500,000
Middlebelt Industrial LLC
Sheriff Of Oakland County
Trustees Deed
related
—
Oct 5, 2004
—
Michigan Ni Industrial LLC
Frf 43 LLC
Grant Deed
$222,000,000 · Mortgage Electronic Reg Sys
Jan 21, 2004
—
Frf 43 LLC
First Industrial LP
Grant Deed
$125,000 · Deutsche Bank Ag
Mar 2, 1998
—
Industrial LP First
First Industrial Financing LP
Quit Claim Deed
related
—
—
—
Doris Road Partners LLC
—
Deed Of Trust
related
$1,200,000 · Innovative Capital Advisors LLC Innovative Capital Advisors LLC
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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