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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Retail space
24280 Middlebelt Rd, Farmington Hills, MI 48336-2131
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US43-0268760
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1986
Total area
11,520 SF
Lot
0.92 ac (39,901 SF)
Zoning code
BI
APN
22-23-24-352-002
UPID
US43-0268760
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
$1.91M
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.37M
Owner & transaction history
City Of Farmington Hills · 8 yrs held
City Of Farmington Hills
since 2017
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,065,000
6.5%
$1,905,000
7%
$1,770,000
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±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
$118 / 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
$21,576
Tax year 2023
Assessed value
$421,910
Assessed 2024
Previous assessed
$377,030
+11.9% YoY
Effective rate
5.11%
On assessed value
Assessed land
$127,680
Assessed improvement
$294,230
Land market value
$255,360
Improvement market value
$588,460
Total market value
$843,820
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
1986
Heating
FORCED AIR
Stories
1
Total area
11,520 SF
Lot
0.92 ac (39,901 SF)
Zoning code
BI
APN
22-23-24-352-002
UPID
US43-0268760
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
1986
Heating
FORCED AIR
Stories
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
City Of Farmington Hills
Entity
Mailing address
24280 MIDDLEBELT RD, FARMINGTON HILLS, MI 48336-2131
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2019
—
Hakim Marketing LLC
—
Deed
related
$1,000,000 · Genisys Cu
Sep 14, 2017
—
City Of Farmington Hills
Hakim Marketing LLC
Grant Deed
related
—
Sep 5, 2017
—
Hakim Marketing LLC
—
Deed
related
$450,000 · Oxford Bank
Nov 8, 2016
—
Hakim Marketing LLC
—
Deed
related
$1,000,000 · Oxford Bank
—
—
Hakim Marketing LLC
—
Deed Of Trust
related
$1,000,000 · Genisys Cu
—
—
Hakim Marketing LLC
—
Deed Of Trust
related
$760,000 · Bank Of Mi
—
—
Hakim Marketing LLC
—
Deed Of Trust
related
$345,000 · Bank Of Mi
—
—
Hakim Marketing LLC
—
Deed Of Trust
related
$250,000 · Standard Federal Bank
—
—
Hakim Marketing LLC
—
Deed Of Trust
related
$525,000 · Bank Of Mi
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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