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Property profile & analytics
OFF-MARKET
Estimated value
$4,650,000
Drug stores
24133 Grand Riv Ave Detroit, MI 48219-3014
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1324886
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1999
Total area
13,999 SF
Lot
0.28 ac (12,197 SF)
Zoning code
PD
APN
22007535-40
UPID
US43-1324886
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
-
Family Dollar Discount Store
-
Detroit, MI General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.65M
Owner & transaction history
Grand River W LLC · 1 yrs held
Grand River W LLC
since 2024
Last sale
$4.7M
2 recorded transactions
Zoning & alternative use
PD · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
District. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-05, § 1(61-7-4), eff. 5-28-2005) Sec. 50-7-5. - Special districts. Special districts and overlay areas within the City are as follows: (1) PD Planned Development District. (2) P1 Open Parking District. (3) PC Public Center District. (4) PCA Public Center Adjacent District (Restri…
Zone name
Planned Development District
General category
PLANNED_DEVELOPMENT
Zone area
1,786.58 ac
Source
code of ordinances
Top alternative use upside
Apartment house (5+ units)
$3.2M
+120.2%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
$4,650,000
ML approach
$4,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,195,000
Change: +120% · Conversion: Difficult
Blend value · Realmo final
$4.65M
Range $4.19M – $5.12M · ±10% · vs last sale $4.65M (Oct 16 2024)
Last sale anchor
$4.65M
Oct 16 2024
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
$332 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$22,289
Tax year 2020
Assessed value
$524,500
Assessed 2024
Previous assessed
$525,300
-0.2% YoY
Effective rate
4.25%
On assessed value
Total market value
$1,049,000
Applied tax rate
82,010.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1999
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
13,999 SF
Lot
0.28 ac (12,197 SF)
Zoning code
PD
APN
22007535-40
UPID
US43-1324886
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
PD · Detroit, MIZoning PD · permitted uses
PD · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
District. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-05, § 1(61-7-4), eff. 5-28-2005) Sec. 50-7-5. - Special districts. Special districts and overlay areas within the City are as follows: (1) PD Planned Development District. (2) P1 Open Parking District. (3) PC Public Center District. (4) PCA Public Center Adjacent District (Restricted Central Business District). (5) TM Transitional-Industrial District. (6) PR
Zone name
Planned Development District
General category
PLANNED_DEVELOPMENT
Zone area
1,786.58 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
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
1999
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Grand River W LLC
Entity
Free & Clear · 1 yrs held
Mailing address
300 WILMOT RD, DEERFIELD, IL 60015-4614
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Oct 16, 2024
—
Grand River W LLC
Grand River Telegraph LLC
Deed
related
—
—
—
Grand River-telegraph LLC
—
Deed Of Trust
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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