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Property profile & analytics
OFF-MARKET
Estimated value
$6,345,000
Outlet malls
24411 Michigan Ave, Dearborn, MI 48124-1827
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1473831
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1961
Total area
82,280 SF
Lot
6.4 ac (278,784 SF)
Zoning code
BC
APN
82 11 204 10 007
UPID
US43-1473831
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
-
Planet Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.34M
Blend (final)
Blend
$6.35M
Owner & transaction history
Michigan & Telegraph Ventures · 10 yrs held
Michigan & Telegraph Ventures
since 2016
6 recorded transactions
Zoning & alternative use
BC · Dearborn, 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 Dearborn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dearborn 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
RETAIL STORES
$9,650,000
Current use
MEDICAL BUILDING
$8,655,000
Change: -10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,365,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$6.35M
Range $5.71M – $6.98M · ±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
$77 / 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
$115,865
Tax year 2023
Assessed value
$1,836,600
Assessed 2024
Previous assessed
$1,831,000
+0.3% YoY
Effective rate
6.31%
On assessed value
Total market value
$3,673,200
Applied tax rate
82,240.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Stories
1
Total area
82,280 SF
Lot
6.4 ac (278,784 SF)
Zoning code
BC
APN
82 11 204 10 007
UPID
US43-1473831
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
BC · Dearborn, MI
Zoning BC · permitted uses
BC · Dearborn, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Dearborn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.7M
MEDICAL BUILDING
Est. value
$8.7M
COMMERCIAL (GENERAL)
Est. value
$8.4M
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1961
Heating
FORCED AIR
Stories
1
Lot
6.4 ac
Current owner
From public records · entity-resolved
Michigan & Telegraph Ventures
Entity
Mailing address
330 HAMILTON ROW STE #300, BIRMINGHAM, MI 48009-3485
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2019
—
Michigan & Telegraph Ventures
—
Deed
related
$1,600,000 · Level One Bk
Oct 4, 2017
—
Michigan & Telegraph Ventures
—
Deed
related
$2,927,000 · Level One Bk
Apr 4, 2016
—
Michigan & Telegraph Ventures
Tru 2005 Re I LLC
Grant Deed
related
$1,600,000 · Level One Bk
—
—
Michigan & Telegraph Ventures
—
Loan Modification
related
$847,056 · Level One Bk
—
—
Michigan & Telegraph Ventures
—
Loan Modification
related
$1,600,000 · Level One Bk
—
—
Michigan & Telegraph Ventures
—
Deed Of Trust
related
$2,927,000 · Level One 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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