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Property profile & analytics
OFF-MARKET
Estimated value
$2,765,000
Grocery and convenience stores
24242 Middlebelt Rd, Farmington Hills, MI 48336-2131
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1073455
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1975
Total area
1,625 SF
Lot
0.45 ac (19,602 SF)
Zoning code
BI
APN
22-23-24-352-003
UPID
US43-1073455
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
$2.81M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.77M
Owner & transaction history
Level One Bank · 4 yrs held
Level One Bank
since 2022
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
BI · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,865,000
ML approach
$2,805,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.77M
Range $2.49M – $3.04M · ±10% · vs last sale $2.70M (May 3 2022)
Last sale anchor
$2.70M
May 3 2022
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
$1,702 / 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
$17,202
Tax year 2023
Assessed value
$317,050
Assessed 2024
Previous assessed
$278,520
+13.8% YoY
Effective rate
5.43%
On assessed value
Assessed land
$62,720
Assessed improvement
$254,330
Land market value
$125,440
Improvement market value
$508,660
Total market value
$634,100
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1975
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
1,625 SF
Lot
0.45 ac (19,602 SF)
Zoning code
BI
APN
22-23-24-352-003
UPID
US43-1073455
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Farmington Hills, MI
Zoning BI · permitted uses
BI · 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.
Building & site characteristics
From public records
Year built
1975
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Level One Bank
Entity
Mailing address
5717 ROSETTA ST, DEARBORN HEIGHTS, MI 48127-2344
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2024
—
Hrb Property Mgt LLC
—
Deed
related
—
Jun 2, 2022
$700,000
Level One Bank
Barrick Properties 50 LLC
Land Contract
$500,000 · Not Available
Jun 2, 2022
—
Hrb Property Mgt LLC
Barrick Properties 60 LLC
Land Contract
$10,000 · Barrick Enterprises INC
May 3, 2022
$2,700,000
Barrick Properties 50 LLC
Mercy Holdings LLC
Warranty Deed
$50,000 · Level One Bank
Apr 27, 2022
—
Barrick Properties 50 LLC
—
Deed
related
$2,640,000 · Level One Bank
Apr 18, 2022
$550,000
Merey Holdings LLC
Barrick Properties 40 LLC
Warranty Deed
—
Mar 31, 2022
—
Abdul Hadi Chanuki
Kay A Albertie
Quit Claim Deed
related
—
Jun 27, 2014
—
Mercy Holdings LLC
Barrick Properties 40 LLC
Grant Deed
—
Apr 29, 2014
$550,000
Barrick Properties 40 LLC
Cah Land Co LLC
Warranty Deed
—
Jul 15, 2004
—
Cah Land Co LLC
C & H Land Co LLC
Quit Claim Deed
related
—
Jun 8, 2004
—
C H Land Co
Hadi,chaouki A
Quit Claim Deed
related
—
—
—
Chaouki Abdul-hadi
—
Deed Of Trust
related
$450,000 · Huntington National Bank
—
—
Cah Land Co LLC
—
Deed Of Trust
related
—
—
—
Cah Land Co
—
Deed Of Trust
related
$200,000 · Charles O Oke
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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