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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
23640 8th Mile Rd Southfield, MI 48033-4201
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0265211
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1958
Total area
1,276 SF
Lot
0.45 ac (19,515 SF)
Zoning code
B-3
APN
76-24-33-301-036
UPID
US43-0265211
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
by Request
Owner & transaction history
Mcorp 23640 W 8 Mile Rd LLC · 1 yrs held
Mcorp 23640 W 8 Mile Rd LLC
since 2025
Last sale
$500,000
3 recorded transactions
Zoning & alternative use
B-3 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The General Business District (B-3) is designed to provide sites for diversified business types and is often located so as to serve passerby traffic
Zone name
General Business
General category
COMMERCIAL
Zone area
439.03 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$10,841
Tax year 2022
Assessed value
$183,310
Assessed 2022
Previous assessed
$183,310
+0.0% YoY
Effective rate
5.91%
On assessed value
Assessed land
$58,010
Assessed improvement
$125,300
Land market value
$116,020
Improvement market value
$250,600
Total market value
$366,620
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1958
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
1,276 SF
Lot
0.45 ac (19,515 SF)
Zoning code
B-3
APN
76-24-33-301-036
UPID
US43-0265211
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Southfield, MIZoning 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
Zoning description
The General Business District (B-3) is designed to provide sites for diversified business types and is often located so as to serve passerby traffic
Zone name
General Business
General category
COMMERCIAL
Zone area
439.03 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1958
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Mcorp 23640 W 8 Mile Rd LLC
Entity
Mailing address
40600 GRAND RIV AVE, NOVI, MI 48375-2810
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Apr 8, 2025
$500,000
Mcorp 23640 W 8 Mile Rd LLC
Detroit Petroleum Properties IV LLC
Deed
$10,000 · Royal Oak Fuel Services LLC
Sep 11, 2018
—
Detroit Petroleum Properties IV LLC
Knight Enterprises INC
Deed
$40,000,000 · Woodforest National Bank
Nov 16, 1999
—
Knight Enterprises INC
A & K Petro INC
Quit Claim Deed
related
—
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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