Property profile

23303 Michigan Ave Dearborn, MI 48124

OFF-MARKET
Grocery and convenience stores
Property ID
US43-0987358
61,031 SF 5.14 ac lot Built 2000
Entity Owned 7-yr Hold ~ Est. High Equity
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Property profile

Verified
Property type Grocery and convenience stores
Use group GROCERY, SUPERMARKET
Year built 2000
Total area 61,031 SF
Lot 5.14 ac (223,898 SF)
Zoning code BC
APN 82 09 214 05 001
UPID US43-0987358

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Atm Currency Exchange Service
  • Cinema (Bike/Boat/Book/etc) Store
  • Food Market Restaurant
  • Department Of Motor Vehicles Kiosk
  • Pharmacy

Location

23303 Michigan Ave Dearborn, MI 48124-2029
Dearborn metro Census 574900 DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$7.24M
Blend (final) Blend
$7.24M

Owner & transaction history

since 2019
3 recorded transactions
2019
Price N/A
2018
Price N/A
1969
Price N/A

Zoning & alternative use

BC · Dearborn, MI
Zoning description

R-D, AND R-E MULTIPLE FAMILY RESIDENTIAL DISTRICTS[1] ARTICLE 13.00 - O-S, BUSINESS OFFICE DISTRICT[1] ARTICLE 14.00 - B-A, LOCAL BUSINESS DISTRICT[1] ARTICLE 15.00 - B-B, COMMUNITY BUSINESS DISTRICT[1] ARTICLE 16.00 - B…

General category COMMERCIAL
Top alternative use upside
Office building $9.0M +26.0%
Restaurant $8.7M +21.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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