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Property profile & analytics
OFF-MARKET
Estimated value
$1,280,000
Strip malls
24785 Southfield Rd Southfield, MI 48075-2750
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-0247093
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2005
Total area
3,223 SF
Lot
0.88 ac (38,246 SF)
Zoning code
B-2
APN
76-24-26-226-003
UPID
US43-0247093
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
$1.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.28M
Owner & transaction history
10 Corner LLC · 2 yrs held
10 Corner LLC
since 2023
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
B-2 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Business District (B-2) is designed to service the needs of the convenience or comparison shopper. The district is generally characterized by an integrated or planned cluster of establishments served by a common parking area and generating large volumes of vehicular and pedestrian traffic
Zone name
Planned Business
General category
COMMERCIAL
Zone area
109.05 ac
Source
Realmo
Top alternative use upside
Medical building
$935,000
+211.8%
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 Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield 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
$1,375,000
ML approach
$1,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$935,000
Change: +212% · Conversion: Difficult
Blend value · Realmo final
$1.28M
Range $1.15M – $1.41M · ±10% · vs last sale $1.20M (Dec 20 2023)
Last sale anchor
$1.20M
Dec 20 2023
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
$397 / 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
$23,394
Tax year 2022
Assessed value
$352,990
Assessed 2022
Previous assessed
$352,990
+0.0% YoY
Effective rate
6.63%
On assessed value
Assessed land
$94,610
Assessed improvement
$258,380
Land market value
$189,220
Improvement market value
$516,760
Total market value
$705,980
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
3,223 SF
Lot
0.88 ac (38,246 SF)
Zoning code
B-2
APN
76-24-26-226-003
UPID
US43-0247093
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Southfield, MIZoning B-2 · permitted uses
B-2 · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Business District (B-2) is designed to service the needs of the convenience or comparison shopper. The district is generally characterized by an integrated or planned cluster of establishments served by a common parking area and generating large volumes of vehicular and pedestrian traffic
Zone name
Planned Business
General category
COMMERCIAL
Zone area
109.05 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$935,000
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
2005
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
10 Corner LLC
Entity
Mailing address
24785 SOUTHFIELD RD #24791, SOUTHFIELD, MI 48075-2750
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2023
$1,200,000
10 Corner LLC
Faith Group LLC
Warranty Deed
—
Sep 1, 2020
—
Hanna Properties LLC
—
Deed
related
$13,000,000 · Horizon Bk
Apr 11, 2017
—
Hanna Properties LLC
—
Grant Deed
related
$4,005,000 · Wolverine Bk
Jul 22, 2016
—
Faith Group LLC
—
Deed
related
$4,122,500 · Jp Morgan Chase Bk
Jan 11, 2007
—
Faith Group LLC
Korkis,laith
Warranty Deed
$1,120,000 · Paramount Bank
Jul 11, 2006
—
Laith Korkis
—
Deed Of Trust
related
$2,890,000 · Paramount Bank
Jan 27, 2000
$550,000
Laith Korkis
Butler Properties
Grant Deed
—
Jun 24, 1999
—
Laith Korkis
Butler Properties
Grant Deed
related
—
—
—
Faith Group LLC
—
Deed Of Trust
related
$4,122,500 · Jp Morgan Chase Bk
—
—
24785 Southfield Road LLC
—
Deed Of Trust
related
$480,000 · Bank One Michigan
—
—
Laith Korkis
—
Deed Of Trust
related
$100,000 · Paramount Bank
—
—
Laith Korkis
—
Deed Of Trust
related
$750,000 · Paramount Bank
—
—
Hanna Properties LLC
—
Loan Modification
related
$13,000,000 · Horizon 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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