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Property profile & analytics
OFF-MARKET
Estimated value
$1,020,000
Office buildings
24280 Woodward Ave Pleasant Ridge, MI 48069-1127
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1434435
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1953
Total area
6,719 SF
Lot
0.25 ac (10,890 SF)
Zoning code
BI
APN
60-25-27-102-050
UPID
US43-1434435
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
-
Integrated Financial Solutions Group - Ameriprise Financial Services, LLC Financial Advisor
-
Hart Wealth Advisory Group - Ameriprise Financial Services, LLC Financial Advisor
-
CornerStone Financial Group - Ameriprise Financial Services, LLC Financial Advisor
-
JC Wilhelm - Private Wealth Advisor, Ameriprise Financial Services, LLC Financial Advisor
-
Anthony Whitbeck - Financial Advisor, Ameriprise Financial Services, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.02M
Owner & transaction history
Multi-bank Services Ltd · 24 yrs held
Multi-bank Services Ltd
since 2001
2 recorded transactions
Zoning & alternative use
BI · Pleasant Ridge, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+50.2%
Restaurant
$1.2M
+47.6%
Retail stores
$1.1M
+43.9%
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 Pleasant Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pleasant Ridge 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
$790,000
Current use
COMMERCIAL (GENERAL)
$1,185,000
Change: +50% · Conversion: Easy
RESTAURANT
$1,165,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$1,135,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$1,060,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$825,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±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
$152 / 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
$28,299
Tax year 2023
Assessed value
$618,970
Assessed 2024
Previous assessed
$609,640
+1.5% YoY
Effective rate
4.57%
On assessed value
Total market value
$1,237,940
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1953
Heating
ZONE
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
6,719 SF
Lot
0.25 ac (10,890 SF)
Zoning code
BI
APN
60-25-27-102-050
UPID
US43-1434435
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Pleasant Ridge, MIZoning BI · permitted uses
BI · Pleasant Ridge, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$790,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$825,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1953
Heating
ZONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
Multi-bank Services Ltd
Entity
Mailing address
15 OXFORD BLVD, PLEASANT RIDGE, MI 48069-1112
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
Sep 12, 2001
—
Multi-bank Services Ltd
Auto Club Insurance Assn
Grant Deed
$1,105,000 · Bank One Michigan
—
—
Hart-dunlap Enterprises LLC
—
Deed Of Trust
related
$982,500 · Main Street Bk
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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