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Property profile & analytics
OFF-MARKET
Retail space
24265 Middlebelt Rd Farmington Hills, MI 48336-2132
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-0273037
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1946
Total area
1,128 SF
Lot
0.3 ac (12,937 SF)
Zoning code
BI
APN
22-23-23-478-025
UPID
US43-0273037
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mlk Properties LLC · 7 yrs held
Mlk Properties LLC
since 2018
5 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,570
Tax year 2023
Assessed value
$84,770
Assessed 2024
Previous assessed
$77,500
+9.4% YoY
Effective rate
5.39%
On assessed value
Assessed land
$41,380
Assessed improvement
$43,390
Land market value
$82,760
Improvement market value
$86,780
Total market value
$169,540
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1946
Heating
FORCED AIR
Stories
1
Units
1
Total area
1,128 SF
Lot
0.3 ac (12,937 SF)
Zoning code
BI
APN
22-23-23-478-025
UPID
US43-0273037
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
1946
Heating
FORCED AIR
Stories
1
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Mlk Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
24265 MIDDLEBELT RD, FARMINGTON HILLS, MI 48336-2132
Mailing matches property
Yes
Owner-occupied
Yes
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2018
—
Mlk Properties LLC
Savaya,shebun
Quit Claim Deed
related
—
Mar 17, 2016
—
Shebun Savaya
Savaya Spa & Salon LLC
Quit Claim Deed
related
—
Oct 17, 2014
$55,000
Savaya Spa & Salon LLC
Y S Ents INC
Grant Deed
—
Oct 17, 2014
—
Y S Ents INC
Hong,yong-ho & Sook-kyung
Quit Claim Deed
related
—
Sep 16, 1999
$125,000
Yong Ho Hong
Colley,samuel P & Carol
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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