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Property profile & analytics
OFF-MARKET
Estimated value
$10,175,000
Outlet malls
26100 Vreeland Rd Flat Rock, MI 48134-1692
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-2545295
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2015
Total area
179,235 SF
Lot
25.38 ac (1,105,553 SF)
APN
58 090 99 0014 702
UPID
US43-2545295
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
$10.17M
Blend (final)
Blend
$10.18M
Owner & transaction history
City Of Flat Rock Michigan · 9 yrs held
City Of Flat Rock Michigan
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$16.9M
+14.6%
Office building
$15.7M
+6.8%
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 Flat Rock submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flat Rock 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
RETAIL STORES
$14,725,000
Current use
MEDICAL BUILDING
$16,880,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$15,730,000
Change: +7% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$14,260,000
Change: -3% · Conversion: Moderate
RESTAURANT
$13,825,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,815,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$10.18M
Range $9.16M – $11.19M · ±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
$57 / 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
$369,848
Tax year 2023
Assessed value
$3,924,000
Assessed 2024
Previous assessed
$5,292,000
-25.9% YoY
Effective rate
9.43%
On assessed value
Total market value
$7,848,000
Applied tax rate
82,180.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2015
Heating
FORCED AIR
Stories
1
Total area
179,235 SF
Lot
25.38 ac (1,105,553 SF)
APN
58 090 99 0014 702
UPID
US43-2545295
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$14.7M
MEDICAL BUILDING
Est. value
$16.9M
OFFICE BUILDING
Est. value
$15.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.3M
RESTAURANT
Est. value
$13.8M
AUTO REPAIR, GARAGE
Est. value
$12.8M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
2015
Heating
FORCED AIR
Stories
1
Lot
25.38 ac
Current owner
From public records · entity-resolved
City Of Flat Rock Michigan
Entity
Free & Clear · 9 yrs held
Mailing address
2929 WALKER AVE NW, GRAND RAPIDS, MI 49544-6402
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2017
—
City Of Flat Rock Michigan
Meijer INC
Quit Claim Deed
related
—
Aug 27, 2013
—
Telrock Plaza LLC
—
Loan Modification
related
$3,080,953 · Fifth Third Bk/cleveland
Aug 8, 2013
—
Meijer INC
Rockridge Dev LLC
Warranty 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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