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Property profile & analytics
FOR LEASE
Medical Office Space
26454 Woodward Ave, Royal Oak, MI 48067
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0565536
For Lease
1 / 2
$23 SF/Yr
26454 Woodward Ave, Royal Oak, MI 48067
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Total area
10,295 SF
Lot
1.61 ac (69,914 SF)
Zoning code
OFFICE SVC
APN
72-25-21-131-013
UPID
US43-0565536
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
Current use
Occupant on record · Public records
-
Shah Mitul N MD Physician
-
Exclusive Medical Pharmacy Pharmacy
-
Dalziel Barbara J Physician
-
Hamlin Jeffrey R MD Physician Medical Clinic
-
Regional Medical Imaging Royal Oak Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.35M
Blend (final)
Blend
$2.01M
Owner & transaction history
Premier Group Holdings LLC · 21 yrs held
Premier Group Holdings LLC
since 2004
3 recorded transactions
Zoning & alternative use
OFFICE SVC · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+19.5%
Restaurant
$1.8M
+9.7%
Retail stores
$1.7M
+6.9%
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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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
MEDICAL BUILDING
$1,625,000
Current use
COMMERCIAL (GENERAL)
$1,940,000
Change: +20% · Conversion: Easy
RESTAURANT
$1,780,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$1,740,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$2.01M
Range $1.80M – $2.21M · ±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
$195 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$59,867
Tax year 2021
Assessed value
$1,301,420
Assessed 2024
Previous assessed
$1,042,200
+24.9% YoY
Effective rate
4.60%
On assessed value
Total market value
$2,602,840
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1986
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
10,295 SF
Lot
1.61 ac (69,914 SF)
Zoning code
OFFICE SVC
APN
72-25-21-131-013
UPID
US43-0565536
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
OFFICE SVC · Royal Oak, MI
Zoning OFFICE SVC · permitted uses
OFFICE SVC · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.9M
RESTAURANT
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1986
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Premier Group Holdings LLC
Entity
Free & Clear · 21 yrs held
Mailing address
53243 PONDVIEW DR, SHELBY TOWNSHIP, MI 48315-1792
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
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
Jul 20, 2004
—
Premier Group Holdings LLC
Fourth & Woodward Assocs
Grant Deed
related
—
—
—
Fourth & Woodward Associates
—
Deed Of Trust
related
$686,306 · Charter One Bank
—
—
Fourth And Woodward Associates
—
Deed Of Trust
related
$55,000 · First Federal Of Michigan
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?”
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