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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Turn key restaurants
2383 14th Mile Rd, Sterling Heights, MI 48310-5958
Entity Owned
10-yr Hold
Free & Clear
Property ID
US43-0195401
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1976
Total area
5,489 SF
Lot
0.83 ac (35,981 SF)
Zoning code
C-1
APN
10-10-31-377-021
UPID
US43-0195401
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
$735k
Blend (final)
Blend
$735k
Owner & transaction history
Joe & Louie Properties LLC · 10 yrs held
Joe & Louie Properties LLC
since 2016
3 recorded transactions
Zoning & alternative use
C-1 · Sterling Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+32.8%
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 Sterling Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sterling Heights 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
Alternative Use
Use
Estimation
RESTAURANT
$780,000
Current use
COMMERCIAL (GENERAL)
$1,035,000
Change: +33% · Conversion: Easy
MEDICAL BUILDING
$675,000
Change: -13% · Conversion: Difficult
OFFICE BUILDING
$650,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$735k
Range $662k – $809k · ±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
$134 / 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
$18,220
Tax year 2022
Assessed value
$357,100
Assessed 2023
Previous assessed
$336,200
+6.2% YoY
Effective rate
5.10%
On assessed value
Total market value
$714,200
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1976
Heating
FORCED AIR
Stories
1
Total area
5,489 SF
Lot
0.83 ac (35,981 SF)
Zoning code
C-1
APN
10-10-31-377-021
UPID
US43-0195401
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C-1 · Sterling Heights, MI
Zoning C-1 · permitted uses
C-1 · Sterling Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sterling Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$780,000
COMMERCIAL (GENERAL)
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$675,000
OFFICE BUILDING
Est. value
$650,000
RESTAURANT Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
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
1976
Heating
FORCED AIR
Stories
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Joe & Louie Properties LLC
Entity
Free & Clear · 10 yrs held
Mailing address
2383 E 14TH MILE RD, STERLING HEIGHTS, MI 48310-5958
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Feb 16, 2016
—
Joe & Louie Properties LLC
2383 Fourteen Mile LLC
Quit Claim Deed
—
May 6, 2009
$500,000
2383 Fourteen Mile LLC
Spartan Holdings INC
Warranty Deed
—
May 6, 2009
$333,000
Spartan Holdings INC
Northwind Investment
Warranty Deed
—
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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