Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$12,810,000
Drug stores
23675 Greenfield Rd Southfield, MI 48075-3121
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1539061
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
183,723 SF
Lot
12.23 ac (532,739 SF)
Zoning code
B-2
APN
76-24-25-401-018
UPID
US43-1539061
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
Current use
Occupant on record · Public records
-
Kroger Deli Food Market Restaurant
-
Western Union Bank Credit Union
-
MoneyGram Bank Credit Union
-
Kroger Money Services Bank Credit Union
-
Ria Money Transfer - Kroger Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.05M
Blend (final)
Blend
$12.81M
Owner & transaction history
Ross Dress For Less INC · 1 yrs held
Ross Dress For Less INC
since 2024
3 recorded transactions
Zoning & alternative use
B-2 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Business District (B-2) is designed to service the needs of the convenience or comparison shopper. The district is generally characterized by an integrated or planned cluster of establishments served by a common parking area and generating large volumes of vehicular and pedestrian traffic
Zone name
Planned Business
General category
COMMERCIAL
Zone area
109.05 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
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
Blend value · Realmo final
$12.81M
Range $11.53M – $14.09M · ±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
$70 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$179,053
Tax year 2022
Assessed value
$2,655,820
Assessed 2022
Previous assessed
$2,655,820
+0.0% YoY
Effective rate
6.74%
On assessed value
Assessed land
$1,041,500
Assessed improvement
$1,614,320
Land market value
$2,083,000
Improvement market value
$3,228,640
Total market value
$5,311,640
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Stories
1
Total area
183,723 SF
Lot
12.23 ac (532,739 SF)
Zoning code
B-2
APN
76-24-25-401-018
UPID
US43-1539061
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Southfield, MIZoning B-2 · permitted uses
B-2 · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Business District (B-2) is designed to service the needs of the convenience or comparison shopper. The district is generally characterized by an integrated or planned cluster of establishments served by a common parking area and generating large volumes of vehicular and pedestrian traffic
Zone name
Planned Business
General category
COMMERCIAL
Zone area
109.05 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1999
Heating
FORCED AIR
Stories
1
Lot
12.23 ac
Current owner
From public records · entity-resolved
Ross Dress For Less INC
Entity
Mailing address
600 N OLD WOODWARD AVE STE #100, BIRMINGHAM, MI 48009-3835
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Nov 26, 2024
—
Ross Dress For Less INC
Solo Co LLC
Deed
—
Jun 22, 2022
—
Solo Co LLC
—
Deed
related
$10,990,000 · Bank Of Ann Arbor
—
—
Solo Co LLC
—
Deed Of Trust
related
$12,500,000 · Morgan Stanley Dean Witter Mtg
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?”
You own 23675 Greenfield Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
