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Property profile & analytics
OFF-MARKET
Estimated value
$1,345,000
Industrial properties
23761 Research Dr, Farmington Hills, MI 48335-2626
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-5252893
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1978
Total area
11,871 SF
Lot
2.04 ac (88,645 SF)
Zoning code
II
APN
22-23-30-126-007
UPID
US43-5252893
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
$1.39M
CAP Approach
CAP
$905k
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.35M
Owner & transaction history
United States Small Business Admin · 3 yrs held
United States Small Business Admin
since 2023
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
II · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+114.7%
Restaurant
$2.1M
+110.9%
Medical building
$1.9M
+92.4%
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
$1,405,000
ML approach
$1,385,000
CAP Approach
CAP Return
Estimation
6%
$980,000
6.5%
$905,000
7%
$840,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$975,000
Current use
COMMERCIAL (GENERAL)
$2,090,000
Change: +115% · Conversion: Difficult
RESTAURANT
$2,055,000
Change: +111% · Conversion: Difficult
MEDICAL BUILDING
$1,875,000
Change: +92% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,455,000
Change: +49% · Conversion: Easy
OFFICE BUILDING
$1,420,000
Change: +46% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,105,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.21M – $1.48M · ±10% · vs last sale $1.33M (Feb 17 2022)
Last sale anchor
$1.33M
Feb 17 2022
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
$113 / 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
$32,593
Tax year 2023
Assessed value
$598,110
Assessed 2024
Previous assessed
$473,200
+26.4% YoY
Effective rate
5.45%
On assessed value
Assessed land
$146,020
Assessed improvement
$452,090
Land market value
$292,040
Improvement market value
$904,180
Total market value
$1,196,220
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
11,871 SF
Lot
2.04 ac (88,645 SF)
Zoning code
II
APN
22-23-30-126-007
UPID
US43-5252893
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
$975,000
COMMERCIAL (GENERAL)
Est. value
$2.1M
RESTAURANT
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
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
2.04 ac
Current owner
From public records · entity-resolved
United States Small Business Admin
Individual
Mailing address
23761 RESEARCH DR #111, FARMINGTON HILLS, MI 48335-2626
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2023
—
United States Small Business Admin
Michigan Certified Development Corp
Assignment Of Lease (leasehold Sale)
—
Nov 3, 2022
—
Michigan Certified Development Corp
Multi Drywall & Parition LLC
Assignment Of Lease (leasehold Sale)
$533,000 · Michigan Certified Development Corporati
Feb 17, 2022
$1,325,000
Sandefjord Haggerty Mgt LLC
Raycorp Properties LLC
Warranty Deed
$662,500 · Northstar Bank
Jun 25, 2004
$815,000
Raycorp Properties
Borgeson,donald R
Warranty Deed
$733,500 · Community Bank Of Dearborn
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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