New search
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
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, MI
Zoning 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
Dearborn Heights. Always verify with local authorities before improvements.
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.
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 23916 Frd Rd?
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.
