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Property profile & analytics
OFF-MARKET
Estimated value
$3,375,000
Manufacturing properties
24505 Indoplex Cir, Farmington Hills, MI 48335-9991
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1641481
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1973
Total area
46,154 SF
Lot
3.24 ac (141,134 SF)
Zoning code
ME
APN
22-23-21-351-028
UPID
US43-1641481
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
$3.44M
CAP Approach
CAP
$3.52M
Comparable Approach
Comparable
$3.85M
Blend (final)
Blend
$3.38M
Owner & transaction history
Indoplex Owner LLC · 4 yrs held
Indoplex Owner LLC
since 2021
Last sale
$3.3M
5 recorded transactions
Zoning & alternative use
ME · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.5M
+45.7%
Neighborhood: shopping center
$4.3M
+13.4%
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
$3,415,000
ML approach
$3,435,000
CAP Approach
CAP Return
Estimation
6%
$3,810,000
6.5%
$3,520,000
7%
$3,265,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,785,000
Current use
OFFICE BUILDING
$5,515,000
Change: +46% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,295,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$3.38M
Range $3.04M – $3.71M · ±10% · vs last sale $3.25M (Dec 17 2021)
Last sale anchor
$3.25M
Dec 17 2021
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
$73 / 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
$102,320
Tax year 2023
Assessed value
$1,692,460
Assessed 2024
Previous assessed
$1,764,460
-4.1% YoY
Effective rate
6.05%
On assessed value
Assessed land
$203,600
Assessed improvement
$1,488,860
Land market value
$407,200
Improvement market value
$2,977,720
Total market value
$3,384,920
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Stories
1
Total area
46,154 SF
Lot
3.24 ac (141,134 SF)
Zoning code
ME
APN
22-23-21-351-028
UPID
US43-1641481
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
ME · Farmington Hills, MI
Zoning ME · permitted uses
ME · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.8M
OFFICE BUILDING
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.3M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1973
Heating
FORCED AIR
Stories
1
Lot
3.24 ac
Current owner
From public records · entity-resolved
Indoplex Owner LLC
Entity
Mailing address
26600 TELEGRAPH RD STE #200, SOUTHFIELD, MI 48033-5311
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Jul 25, 2022
—
Joy Road Owner LLC
—
Deed
related
$3,000 · Minnesota Life Insurance Company
Dec 17, 2021
$3,250,000
Indoplex Owner LLC
Kern Liebers Pieron INC
Deed
$2,700,000 · Cibc Bank USA
Mar 13, 2019
—
Kern-liebers Pieron INC
—
Grant Deed
related
$35,000,000 · Huntington Nat'l Bk
Feb 9, 2017
$1,480,000
Kern-leibers Pieron INC
Livonia International Dev II
Warranty Deed
—
May 1, 2013
—
International Dev Livonia II
United States Postal Svcs
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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