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Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Commercial real estate
24729 Sherwood, Center Line, MI 48015-2018
Entity Owned
Free & Clear
Property ID
US43-1504838
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1942
Total area
5,492 SF
Lot
0.96 ac (41,818 SF)
Zoning code
IND <20K SF
APN
01-13-28-128-015
UPID
US43-1504838
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
$554k
Blend (final)
Blend
$555k
Owner & transaction history
Wico Metal Products Holding Company
Wico Metal Products Holding Company
since 2025
7 recorded transactions
Zoning & alternative use
IND <20K SF · Center Line, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$780,000
+76.8%
Medical building
$675,000
+53.2%
Retail stores
$575,000
+30.1%
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
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
COMMERCIAL (GENERAL)
$440,000
Current use
RESTAURANT
$780,000
Change: +77% · Conversion: Difficult
MEDICAL BUILDING
$675,000
Change: +53% · Conversion: Easy
RETAIL STORES
$575,000
Change: +30% · Conversion: Easy
OFFICE BUILDING
$520,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$470,000
Change: +7% · Conversion: Difficult
WAREHOUSE, STORAGE
$370,000
Change: -16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$360,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$101 / 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
$6,603
Tax year 2022
Assessed value
$568,700
Assessed 2023
Previous assessed
$429,400
+32.4% YoY
Effective rate
1.16%
On assessed value
Total market value
$1,137,400
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
Off-Market
Year built
1942
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
5,492 SF
Lot
0.96 ac (41,818 SF)
Zoning code
IND <20K SF
APN
01-13-28-128-015
UPID
US43-1504838
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
IND <20K SF · Center Line, MI
Zoning IND <20K SF · permitted uses
IND <20K SF · 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
$440,000
RESTAURANT
Est. value
$780,000
MEDICAL BUILDING
Est. value
$675,000
RETAIL STORES
Est. value
$575,000
OFFICE BUILDING
Est. value
$520,000
AUTO REPAIR, GARAGE
Est. value
$470,000
WAREHOUSE, STORAGE
Est. value
$370,000
INDUSTRIAL (GENERAL)
Est. value
$360,000
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
1942
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Wico Metal Products Holding Company
Entity
Free & Clear · 0 yrs held
Mailing address
888 W BIG BEAVER RD STE #870, TROY, MI 48084-4746
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2025
—
Wico Metal Products Holding Company
Spartan Partners Properties LLC
Warranty Deed
—
Oct 7, 2024
—
Spartan Partners Properties LLC
—
Deed
related
$140,000 · Fg Agency Lending LLC
Dec 27, 2021
—
Spartan Partners Properties LLC
—
Deed
related
$55,000,000 · Chicago Atlantic Admin LLC
Nov 1, 2019
—
Spartan Ptrs Prop LLC
Mayde Us LLC
Warranty Deed
—
Jul 3, 2019
$850,000
Mayde Us LLC
Thornton,robert JR
Warranty Deed
—
Jun 25, 2019
—
Thornton Robert JR.
Thornton,robert L
Quit Claim Deed
related
—
Oct 7, 2009
$50,000
Robert L Thornton
C & C Holding LLC
Quit Claim Deed
related
—
Oct 7, 2009
—
C & C Holding LLC
Thornton,robert L & Margaret L
Quit Claim Deed
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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