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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Strip malls
23916 Frd Rd Dearborn Heights, MI 48127-3246
Entity Owned
8-yr Hold
Free & Clear
Property ID
US43-1329334
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1971
Total area
14,083 SF
Lot
2.25 ac (98,010 SF)
Zoning code
C-2
APN
33 020 03 0088 302
UPID
US43-1329334
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
$1.52M
Blend (final)
Blend
$1.53M
Owner & transaction history
Crr Properties LLC · 8 yrs held
Crr Properties LLC
since 2018
1 recorded transaction
Zoning & alternative use
C-2 · Dearborn Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Sec. 36-57. - C2, General business district. Intent. The general business district, designated C2, is hereby established to provide for a wider range of business and entertainment activities than is permitted in the neighborhood business district or commercial-residential mixed use district. Uses in the C2 district would include those types of businesses and…
Zone name
General Business
General category
MIXED_USE
Zone area
260.94 ac
Source
code of ordinances
Top alternative use upside
Retail stores
$2.0M
+77.1%
Commercial (general)
$1.5M
+38.0%
Restaurant
$1.5M
+30.1%
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 Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dearborn 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
NEIGHBORHOOD: SHOPPING CENTER
$1,120,000
Current use
RETAIL STORES
$1,985,000
Change: +77% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,545,000
Change: +38% · Conversion: Easy
RESTAURANT
$1,460,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$1,370,000
Change: +22% · Conversion: Moderate
MEDICAL BUILDING
$1,325,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,010,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±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
$108 / 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
$26,818
Tax year 2023
Assessed value
$983,500
Assessed 2024
Previous assessed
$938,000
+4.9% YoY
Effective rate
2.73%
On assessed value
Total market value
$1,967,000
Applied tax rate
82,230.0000
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
1971
Heating
FORCED AIR
Stories
1
Total area
14,083 SF
Lot
2.25 ac (98,010 SF)
Zoning code
C-2
APN
33 020 03 0088 302
UPID
US43-1329334
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-2 · Dearborn Heights, MIZoning C-2 · permitted uses
C-2 · Dearborn Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Sec. 36-57. - C2, General business district. Intent. The general business district, designated C2, is hereby established to provide for a wider range of business and entertainment activities than is permitted in the neighborhood business district or commercial-residential mixed use district. Uses in the C2 district would include those types of businesses and services typically found in shopping centers and at the junction of principal streets. Such uses generate larger volumes of vehicular traffic and typically require greater off-street parking and loading areas. Careful planning is required to integrate general business districts with adjacent areas of less-intensive uses. (Ord. No. H-07-01, § 3.107, 7-24-07)
Zone name
General Business
General category
MIXED_USE
Zone area
260.94 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
RETAIL STORES
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
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
1971
Heating
FORCED AIR
Stories
1
Lot
2.25 ac
Current owner
From public records · entity-resolved
Crr Properties LLC
Entity
Free & Clear · 8 yrs held
Mailing address
PO BOX 701700, PLYMOUTH, MI 48170-0969
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2018
—
Crr Properties LLC
Powers Ellen C Trust
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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