New search
Property profile & analytics
OFF-MARKET
Parking lots & garages
251 Merrill St, Birmingham, MI 48009-6121
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US43-1308512
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1967
Total area
109,570 SF
Lot
0.68 ac (29,621 SF)
Zoning code
BI
APN
08-19-36-201-019
UPID
US43-1308512
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Merrillwood Investment LLC · 9 yrs held
Merrillwood Investment LLC
since 2017
5 recorded transactions
Zoning & alternative use
BI · Birmingham, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Birmingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Birmingham 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$408,569
Tax year 2023
Assessed value
$8,775,240
Assessed 2024
Previous assessed
$8,775,240
+0.0% YoY
Effective rate
4.66%
On assessed value
Total market value
$17,550,480
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1967
Heating
NONE
Cooling
NONE
Buildings
4
Stories
1
Units
1
Total area
109,570 SF
Lot
0.68 ac (29,621 SF)
Zoning code
BI
APN
08-19-36-201-019
UPID
US43-1308512
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Birmingham, MI
Zoning BI · permitted uses
BI · Birmingham, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1967
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Units
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Merrillwood Investment LLC
Entity
Mailing address
251 E MERRILL ST STE #212, BIRMINGHAM, MI 48009-6150
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
Jun 2, 2017
—
Merrillwood Investment LLC
Merrillwood Builldngs LLC
Deed
$15,750,000 · Chemical Bank
Oct 1, 2013
—
City Of Birmingham
Merrillwood Building LLC
Quit Claim Deed
related
—
May 26, 2010
—
Merrillwood Building LLC
—
Deed Of Trust
related
$18,781,244 · Comerica Bank
Feb 28, 2007
—
Merrillwood Building LLC
Johnson Ents Of Birmingham LLC
Quit Claim Deed
related
$14,000,000 · Comerica Bank
Jul 17, 2003
—
Paul H Johnson
Johnson,paul H & Marilyn B
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 251 Merrill St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
