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Property profile & analytics
OFF-MARKET
Estimated value
$1,625,000
Office buildings
24424 Mcnichols Rd Detroit, MI 48219-3653
Entity Owned
17-yr Hold
Free & Clear
Property ID
US43-1349953
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Total area
26,400 SF
Lot
0.44 ac (19,166 SF)
Zoning code
B4
APN
22013496-505
UPID
US43-1349953
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
-
Lockhart Barbara Physician
-
Dr. Sally R. Szymanski, DO Physician
-
Kevin Giles Counselor
-
Naomi Ligon, LBSW Foster Care Service Social Service Agency
-
Bettie Cunningham, LBSW Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.63M
Owner & transaction history
Development Centers INC · 17 yrs held
Development Centers INC
since 2008
6 recorded transactions
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.4M
+48.1%
Restaurant
$2.4M
+48.0%
Auto repair, garage
$2.3M
+41.5%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
$1,625,000
Current use
COMMERCIAL (GENERAL)
$2,410,000
Change: +48% · Conversion: Easy
RESTAURANT
$2,410,000
Change: +48% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,300,000
Change: +41% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,000,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$1,665,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.63M
Range $1.46M – $1.79M · ±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
$62 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$100
Tax year 2020
Applied tax rate
82,010.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1969
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
26,400 SF
Lot
0.44 ac (19,166 SF)
Zoning code
B4
APN
22013496-505
UPID
US43-1349953
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MI
Zoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RESTAURANT
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
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
1969
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Development Centers INC
Entity
Free & Clear · 17 yrs held
Mailing address
17421 TELEGRAPH RD, DETROIT, MI 48219-3165
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
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
Feb 20, 2020
—
Development Centers INC
—
Deed
related
$1,966,666 · Pnc Bk
Oct 17, 2008
—
Development Centers INC
Friends Of Dci
Quit Claim Deed
related
—
—
—
Development Centers INC
—
Loan Modification
related
$1,966,666 · Pnc Bk
—
—
Development Centers INC
—
Deed Of Trust
related
—
—
—
Development Centers INC
—
Deed Of Trust
related
$3,000,000 · Pnc Bk
—
—
Development Centers INC
—
Deed Of Trust
related
—
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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