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Property profile & analytics
OFF-MARKET
Estimated value
$3,655,000
Office buildings
251 Diversion St, Rochester Hills, MI 48307-2209
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US43-0930232
Property summary
AI-generated overview
This exceptional Class A office building, located at 251 Diversion St in downtown Rochester, Michigan, offers a variety of suite sizes ranging from 100 to 2,144 square feet. Built in 2008, this four-story building boasts a total of 24,379 square feet of modern, professional office space. The building features abundant natural light thanks to large windows in each suite. Tenants will enjoy a comfortable and productive work environment year-round with climate control including air conditioning and heating. High-speed internet access is also provided. The property is ideally situated in the heart of downtown Rochester, offering easy access to local amenities and businesses. Multiple tenancy options are available, making this property suitable for a range of businesses, from small startups to larger organizations needing flexible space. The minimum divisible space is 100 square feet, allowing for scalability to meet individual business needs. This is a newly renovated building, ensuring modern and updated facilities. The zip code is 48307.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2008
Total area
24,379 SF
Lot
0.56 ac (24,394 SF)
Zoning code
IV
APN
68-15-15-284-001
UPID
US43-0930232
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
$4.06M
Blend (final)
Blend
$3.66M
Owner & transaction history
Diversion Street & Assocs LLC · 18 yrs held
Diversion Street & Assocs LLC
since 2008
6 recorded transactions
Zoning & alternative use
IV · Rochester Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+47.6%
Retail stores
$4.1M
+43.9%
Medical building
$3.9M
+34.6%
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 Rochester Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester 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
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
$2,860,000
Current use
RESTAURANT
$4,220,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$4,115,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$3,850,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,990,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$3.66M
Range $3.29M – $4.02M · ±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
$150 / 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
$64,141
Tax year 2023
Assessed value
$1,878,600
Assessed 2024
Previous assessed
$1,816,510
+3.4% YoY
Effective rate
3.41%
On assessed value
Total market value
$3,757,200
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
2008
Heating
YES
Cooling
YES
Stories
4
Units
1
Total area
24,379 SF
Lot
0.56 ac (24,394 SF)
Zoning code
IV
APN
68-15-15-284-001
UPID
US43-0930232
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
IV · Rochester Hills, MI
Zoning IV · permitted uses
IV · Rochester Hills, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rochester Hills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
RESTAURANT
Est. value
$4.2M
RETAIL STORES
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.0M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2008
Heating
YES
Cooling
Yes
Stories
4
Units
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Diversion Street & Assocs LLC
Entity
Mailing address
251 DIVERSION ST #200, ROCHESTER HILLS, MI 48307-2209
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
Nov 29, 2021
—
Diversion Street & Associates LLC
—
Deed
related
$2,700,000 · Community Cu
Feb 14, 2008
—
Diversion Street & Assocs LLC
Torres,michael & Edita
Warranty Deed
—
Feb 12, 2008
—
Diversion Street & Associates
Salome-rochester LLC
Warranty Deed
—
Jul 16, 2007
—
Salome-rochester LLC
Salome,joseph P III & Beverly A
Quit Claim Deed
—
Feb 3, 2005
$170,000
Joseph Salome
Rossman,alvin L & Arby E
Warranty Deed
—
—
—
Diversion Street Associates L
—
Deed Of Trust
related
$2,700,000 · Community Fin'l Cu
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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