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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Industrial properties
23730 Research Dr, Farmington Hills, MI 48335-2624
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0541295
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1978
Total area
7,936 SF
Lot
0.63 ac (27,617 SF)
Zoning code
II
APN
22-23-30-127-030
UPID
US43-0541295
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
$810k
CAP Approach
CAP
$605k
Comparable Approach
Comparable
$622k
Blend (final)
Blend
$725k
Owner & transaction history
Redbank Wholesale LLC · 3 yrs held
Redbank Wholesale LLC
since 2023
Last sale
$740,000
6 recorded transactions
Zoning & alternative use
II · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$975,000
+49.4%
Office building
$950,000
+45.7%
Neighborhood: shopping center
$740,000
+13.4%
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
Method
Estimation
Statistic approach
$850,000
ML approach
$810,000
CAP Approach
CAP Return
Estimation
6%
$655,000
6.5%
$605,000
7%
$560,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$650,000
Current use
AUTO REPAIR, GARAGE
$975,000
Change: +49% · Conversion: Easy
OFFICE BUILDING
$950,000
Change: +46% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$740,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $740k (Jan 30 2023)
Last sale anchor
$740k
Jan 30 2023
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
$91 / 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
$6,290
Tax year 2023
Assessed value
$273,400
Assessed 2024
Previous assessed
$208,990
+30.8% YoY
Effective rate
2.30%
On assessed value
Assessed land
$45,570
Assessed improvement
$227,830
Land market value
$91,140
Improvement market value
$455,660
Total market value
$546,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Stories
1
Total area
7,936 SF
Lot
0.63 ac (27,617 SF)
Zoning code
II
APN
22-23-30-127-030
UPID
US43-0541295
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$650,000
AUTO REPAIR, GARAGE
Est. value
$975,000
OFFICE BUILDING
Est. value
$950,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$740,000
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1978
Heating
FORCED AIR
Stories
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Redbank Wholesale LLC
Entity
Free & Clear · 3 yrs held
Mailing address
6226 GOLDEN LN, WEST BLOOMFIELD, MI 48322-3271
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Jan 30, 2023
$740,000
Redbank Wholesale LLC
Titan Capital Group LLC
Warranty Deed
—
Jul 23, 2010
—
Titan Capital Group LLC
Business Lenders LLC
Quit Claim Deed
related
—
Dec 17, 1998
$525,000
Jay H Schirmer
Ciaverilla,paul & Anna
Trustees Deed
$540,000 · Ge Capital Small Business Fin
—
—
Jay H Schirmer
—
Deed Of Trust
related
$540,000 · Ge Capital Small Business Fin
—
—
Jay H Schirmer
—
Deed Of Trust
related
—
—
—
Titan Capital Group LLC
—
Deed Of Trust
related
$184,000 · Huntington National Bank
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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