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Property profile & analytics
FOR LEASE
Office buildings
23842 Joy Rd, Redford Twp, MI 48239
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-2196714
For Lease
1 / 15
$42 SF/Yr
23842 Joy Rd, Redford Twp, MI 48239
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1961
Total area
1,000 SF
Lot
0.24 ac (10,454 SF)
APN
79 050 03 0104 301
UPID
US43-2196714
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Rami Akl · 3 yrs held
Rami Akl
since 2023
Last sale
$140,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Redford Twp submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redford Twp 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2019Property tax & assessments
Tax year 2019
Tax billed
$3,211
Tax year 2019
Assessed value
$46,200
Assessed 2024
Previous assessed
$44,800
+3.1% YoY
Effective rate
6.95%
On assessed value
Total market value
$92,400
Applied tax rate
82,140.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1961
Heating
FORCED AIR
Stories
1
Total area
1,000 SF
Lot
0.24 ac (10,454 SF)
APN
79 050 03 0104 301
UPID
US43-2196714
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1961
Heating
FORCED AIR
Stories
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
Rami Akl
Individual
Mailing address
6306 VAUGHAN ST, DETROIT, MI 48228-3978
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
Feb 6, 2023
$140,000
Rami Akl
Raffi Muschegian
Warranty Deed
—
Jun 23, 2022
—
Joy & Telegraph Properties LLC
—
Deed
related
$160,089 · Allen Shemami
Aug 24, 2021
—
Joy & Telegraph Properties LLC
—
Deed
related
$150,000 · Tascs2 LLC
Oct 16, 2008
—
Joy & Telegraph Properties LLC
Hider,hussein J
Warranty Deed
$70,000 · Ray Georges
Sep 11, 2007
—
Joy & Telegraph Properties LLC
Hider,hussein J
Grant Deed
related
—
Sep 16, 2004
—
Hider,hussein J
Hider,allie A
Quit Claim Deed
related
$50,000 · Land Contracts Unlimited INC
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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