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Property profile & analytics
OFF-MARKET
Estimated value
$755,000
Office buildings
24100 Drake Rd, Farmington Hills, MI 48335-3155
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0220104
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1976
Total area
6,351 SF
Lot
0.66 ac (28,750 SF)
Zoning code
C2
APN
20-23-28-101-009
UPID
US43-0220104
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
$962k
Blend (final)
Blend
$755k
Owner & transaction history
24100 Drake LLC · 24 yrs held
24100 Drake LLC
since 2001
2 recorded transactions
Zoning & alternative use
C2 · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+47.4%
Restaurant
$1.1M
+44.8%
Medical building
$1.0M
+32.1%
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 Farmington Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington Hills 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
OFFICE BUILDING
$760,000
Current use
COMMERCIAL (GENERAL)
$1,120,000
Change: +47% · Conversion: Easy
RESTAURANT
$1,100,000
Change: +45% · Conversion: Moderate
MEDICAL BUILDING
$1,005,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$780,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$755k
Range $680k – $831k · ±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
$119 / 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
$19,723
Tax year 2023
Assessed value
$438,150
Assessed 2024
Previous assessed
$425,810
+2.9% YoY
Effective rate
4.50%
On assessed value
Total market value
$876,300
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
Off-Market
Year built
1976
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
6,351 SF
Lot
0.66 ac (28,750 SF)
Zoning code
C2
APN
20-23-28-101-009
UPID
US43-0220104
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C2 · Farmington Hills, MI
Zoning C2 · permitted uses
C2 · Farmington Hills, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington Hills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$780,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1976
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
24100 Drake LLC
Entity
Free & Clear · 24 yrs held
Mailing address
28104 ORCH LK RD STE #120, FARMINGTON HILLS, MI 48334-3759
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2001
—
24100 Drake LLC
Schmidt,michael & Suzanne
Quit Claim Deed
related
—
Mar 27, 2001
—
Watkins,tr
Petachenko,philip & Dolores
Trustees Deed
related
—
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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