New search
Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Strip malls
23900 Cherry Hl St, Dearborn, MI 48124-1422
Entity Owned
16-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-5230959
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1950
Total area
10,007 SF
Lot
0.41 ac (17,860 SF)
Zoning code
BA
APN
82 09 163 30 012
UPID
US43-5230959
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
-
House of Beverage (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Bitbox Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$835k
Blend (final)
Blend
$835k
Owner & transaction history
ED CO PLAZA LLC
ED CO PLAZA LLC
Zoning & alternative use
BA · Dearborn, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.2M
+47.4%
Medical building
$1.1M
+32.2%
Commercial (general)
$1.0M
+27.8%
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 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
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
NEIGHBORHOOD: SHOPPING CENTER
$795,000
Current use
RETAIL STORES
$1,175,000
Change: +47% · Conversion: Easy
MEDICAL BUILDING
$1,055,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,020,000
Change: +28% · Conversion: Easy
AUTO REPAIR, GARAGE
$720,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$83 / 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
$22,277
Tax year 2023
Assessed value
$359,300
Assessed 2024
Previous assessed
$348,900
+3.0% YoY
Effective rate
6.20%
On assessed value
Total market value
$718,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1950
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
10,007 SF
Lot
0.41 ac (17,860 SF)
Zoning code
BA
APN
82 09 163 30 012
UPID
US43-5230959
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
BA · Dearborn, MI
Zoning BA · permitted uses
BA · Dearborn, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dearborn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$795,000
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$720,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1950
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
ED CO PLAZA LLC
Entity
Free & Clear · 0 yrs held
Mailing address
6729 RIVERSIDE DR, DEARBORN HEIGHTS, MI 48127-2342
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 23900 Cherry Hl St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
