Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
23350 Greenfield Rd Oak Park, MI 48237
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-0292112
For Lease
1 / 5
$21,000 SF/Yr
23350 Greenfield Rd, Oak Park, MI 48237
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Total area
12,000 SF
Lot
0.91 ac (39,640 SF)
Zoning code
O
APN
52-25-30-351-040
UPID
US43-0292112
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
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$630k
Blend (final)
Blend
$515k
Owner & transaction history
Oak Park Land Dev LLC · 6 yrs held
Oak Park Land Dev LLC
since 2020
Last sale
$450,000
3 recorded transactions
Zoning & alternative use
O · Oak Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$830,000
+9.7%
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 Oak Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Park 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
$555,000
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$755,000
Current use
RETAIL STORES
$830,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$725,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±10% · vs last sale $450k (Feb 18 2020)
Last sale anchor
$450k
Feb 18 2020
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
$43 / 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
$30,412
Tax year 2023
Assessed value
$434,500
Assessed 2023
Previous assessed
$434,500
+0.0% YoY
Effective rate
7.00%
On assessed value
Assessed land
$44,500
Assessed improvement
$390,000
Land market value
$89,000
Improvement market value
$780,000
Total market value
$869,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2001
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Total area
12,000 SF
Lot
0.91 ac (39,640 SF)
Zoning code
O
APN
52-25-30-351-040
UPID
US43-0292112
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
O · Oak Park, MI
Zoning O · permitted uses
O · Oak Park, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oak Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$755,000
RETAIL STORES
Est. value
$830,000
AUTO REPAIR, GARAGE
Est. value
$725,000
MEDICAL BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
2001
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
Oak Park Land Dev LLC
Entity
Free & Clear · 6 yrs held
Mailing address
23350 GREENFIELD RD, OAK PARK, MI 48237-2496
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 18, 2020
$450,000
Oak Park Land Dev LLC
Wafid Kizy
Warranty Deed
—
Aug 30, 2000
—
Wafid Kizy
National City Bank Michigan/il
Grant Deed
$275,000 · First Alliance Mortgage Co
—
—
Wafid Kizy
—
Deed Of Trust
related
$1,200,000 · Unizan Bank NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
