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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Grocery and convenience stores
23785 Michigan Ave Dearborn, MI 48124-1822
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0093014
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1967
Total area
1,711 SF
Lot
0.38 ac (16,553 SF)
Zoning code
BC
APN
82 09 213 04 002
UPID
US43-0093014
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
-
sunoco Gas Station
-
Sunoco Gas Station Grocery & Convenience Store
-
Food Mart Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$360k
Comparable Approach
Comparable
$638k
Blend (final)
Blend
$565k
Owner & transaction history
Bazco Holdings LLC · 4 yrs held
Bazco Holdings LLC
since 2021
Last sale
$500,000
5 recorded transactions
Zoning & alternative use
BC · Dearborn, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
R-D, AND R-E MULTIPLE FAMILY RESIDENTIAL DISTRICTS[1] ARTICLE 13.00 - O-S, BUSINESS OFFICE DISTRICT[1] ARTICLE 14.00 - B-A, LOCAL BUSINESS DISTRICT[1] ARTICLE 15.00 - B-B, COMMUNITY BUSINESS DISTRICT[1] ARTICLE 16.00 - B-C, GENERAL BUSINESS DISTRICT[1] ARTICLE 17.00 - B-D, DOWNTOWN BUSINESS DISTRICT ARTICLE 18.00 - I-A, LIGHT INDUSTRIAL DISTRICT[1] ARTICLE 1…
Zone name
General Business District
General category
COMMERCIAL
Zone area
1,463.14 ac
Source
Sec. 1.01. - Short title.
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 Dearborn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dearborn 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
$545,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$390,000
6.5%
$360,000
7%
$335,000
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $500k (Aug 31 2021)
Last sale anchor
$500k
Aug 31 2021
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
$330 / 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
$19,530
Tax year 2023
Assessed value
$310,900
Assessed 2024
Previous assessed
$297,900
+4.4% YoY
Effective rate
6.28%
On assessed value
Total market value
$621,800
Applied tax rate
82,030.0000
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
CONVENIENCE STORE
Status
Off-Market
Year built
1967
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
1,711 SF
Lot
0.38 ac (16,553 SF)
Zoning code
BC
APN
82 09 213 04 002
UPID
US43-0093014
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
BC · Dearborn, MIZoning BC · permitted uses
BC · Dearborn, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
R-D, AND R-E MULTIPLE FAMILY RESIDENTIAL DISTRICTS[1] ARTICLE 13.00 - O-S, BUSINESS OFFICE DISTRICT[1] ARTICLE 14.00 - B-A, LOCAL BUSINESS DISTRICT[1] ARTICLE 15.00 - B-B, COMMUNITY BUSINESS DISTRICT[1] ARTICLE 16.00 - B-C, GENERAL BUSINESS DISTRICT[1] ARTICLE 17.00 - B-D, DOWNTOWN BUSINESS DISTRICT ARTICLE 18.00 - I-A, LIGHT INDUSTRIAL DISTRICT[1] ARTICLE 19.00 - I-B, MEDIUM INDUSTRIAL DISTRICT[1] ARTICLE 20.00 - I-C, INTENSIVE INDUSTRIA
Zone name
General Business District
General category
COMMERCIAL
Zone area
1,463.14 ac
Source
Sec. 1.01. - Short title.
Building & site characteristics
From public records
Year built
1967
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Bazco Holdings LLC
Entity
Free & Clear · 4 yrs held
Mailing address
30825 26TH MILE RD, NEW HAVEN, MI 48048-2671
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2022
—
Bazco Holdings LLC
—
Deed
related
$47,800,000 · Citizens Bank NA
Aug 31, 2021
$500,000
Bazco Holdings LLC
Myz Gas LLC
Warranty Deed
—
Aug 27, 2021
$580,000
Myz Gas LLC
Riverbank Investments INC
Warranty Deed
—
Jun 13, 2018
$580,000
Myz Gas LLC
Riverbank Investment INC
Land Contract
—
Jan 12, 2004
—
Mich Tel Oil LLC
Nana Property LLC
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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