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Property profile & analytics
FOR SALE
Commercial real estate
24650 Sherwood Ave, Center Line, MI 48015
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-1842702
For Sale
1 / 6
$1,600,000
24650 Sherwood Ave, Center Line, MI 48015
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1988
Construction
CONCRETE BLOCKS
Total area
14,776 SF
Lot
1.6 ac (69,609 SF)
Zoning code
FLEX MALL
APN
01-13-28-202-006
UPID
US43-1842702
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
by Request
Comparable Approach
Comparable
$823k
Blend (final)
Blend
$780k
Owner & transaction history
Sherwood Property Holding INC · 6 yrs held
Sherwood Property Holding INC
since 2020
Last sale
$725,000
7 recorded transactions
Zoning & alternative use
FLEX MALL · Center Line, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+7.3%
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 Center Line submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Center Line 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
$800,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,185,000
Current use
AUTO REPAIR, GARAGE
$1,270,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$995,000
Change: -16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$965,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$780k
Range $702k – $858k · ±10% · vs last sale $725k (Feb 18 2020)
Last sale anchor
$725k
Feb 18 2020
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
$53 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$19,047
Tax year 2022
Assessed value
$359,000
Assessed 2023
Previous assessed
$346,200
+3.7% YoY
Effective rate
5.31%
On assessed value
Total market value
$718,000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1988
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Total area
14,776 SF
Lot
1.6 ac (69,609 SF)
Zoning code
FLEX MALL
APN
01-13-28-202-006
UPID
US43-1842702
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
FLEX MALL · Center Line, MI
Zoning FLEX MALL · permitted uses
FLEX MALL · Center Line, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Center Line. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$995,000
INDUSTRIAL (GENERAL)
Est. value
$965,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
INDUSTRIAL (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
1988
Construction
CONCRETE BLOCKS
Heating
FORCED AIR
Stories
1
Lot
1.6 ac
Current owner
From public records · entity-resolved
Sherwood Property Holding INC
Entity
Free & Clear · 6 yrs held
Mailing address
57538 WINDHAM CT, WASHINGTON, MI 48094-3173
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2021
—
Sherwood Property Holding INC
—
Deed
related
$800,000 · Superior National Bank
Feb 18, 2020
—
Sherwood Property Holding INC
Jason Trucking INC
Quit Claim Deed
related
—
Aug 7, 2019
$725,000
Jason Trucking INC
24sherwood LLC
Grant Deed
—
Feb 17, 2017
—
Jason Trucking INC
24sherwood LLC
Quit Claim Deed
related
—
Nov 18, 2013
—
24sherwood LLC
Sherwood Industrial LLC
Quit Claim Deed
$300,000 · Michigan Schools & Gov't Cu
—
—
Sherwood Industrial LLC
—
Deed Of Trust
related
$560,000 · Charter One
—
—
24sherwood LLC
—
Loan Modification
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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