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Property profile & analytics
OFF-MARKET
Estimated value
$2,820,000
Industrial properties
23930 Sherwood, Center Line, MI 48015-2010
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-1399642
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1952
Construction
CONCRETE BLOCKS
Total area
65,767 SF
Lot
3.19 ac (138,782 SF)
Zoning code
IND 20K SF+
APN
01-13-28-251-015
UPID
US43-1399642
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
$2.82M
Blend (final)
Blend
$2.82M
Owner & transaction history
Wico Metal Products Holding Co · 5 yrs held
Wico Metal Products Holding Co
since 2020
7 recorded transactions
Zoning & alternative use
IND 20K SF+ · Center Line, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$4.4M
+3.5%
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 Center Line submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Center Line 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
INDUSTRIAL (GENERAL)
$4,285,000
Current use
WAREHOUSE, STORAGE
$4,435,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.82M
Range $2.54M – $3.10M · ±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
$43 / 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
$35,655
Tax year 2022
Assessed value
$690,900
Assessed 2023
Previous assessed
$658,400
+4.9% YoY
Effective rate
5.16%
On assessed value
Total market value
$1,381,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1952
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Bathrooms
4
Total area
65,767 SF
Lot
3.19 ac (138,782 SF)
Zoning code
IND 20K SF+
APN
01-13-28-251-015
UPID
US43-1399642
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
IND 20K SF+ · Center Line, MI
Zoning IND 20K SF+ · permitted uses
IND 20K SF+ · Center Line, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Center Line. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$4.4M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
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
1952
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Bathrooms
4
Lot
3.19 ac
Current owner
From public records · entity-resolved
Wico Metal Products Holding Co
Entity
Free & Clear · 5 yrs held
Mailing address
23500 SHERWOOD AVE, WARREN, MI 48091-5363
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2020
—
Wico Metal Products Holding Co
Wico Metal Products Co
Quit Claim Deed
—
Mar 31, 2015
—
Wico Metal Products Co
Christel Roger J
Warranty Deed
—
Jan 31, 2012
—
Wico Metal Products Co
Premire Property LLC
Quit Claim Deed
related
—
Jan 31, 2012
$450,000
Wico Metal Products Co
Premire Property LLC
Grant Deed
related
—
Dec 22, 2011
—
Premire Property LLC
Christel,roger J
Grant Deed
—
Dec 6, 2011
—
Roger J Christel
Christel R J Living Trust
Quit Claim Deed
related
—
Mar 24, 2009
—
Christel Roger J Trust
Christel,roger J
Quit Claim Deed
related
—
Dec 8, 2004
$900,000
Roger J Christel
Zions First National Bank
Grant 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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