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Property profile & analytics
FOR LEASE
Strip malls
2651 South Wayne Rd Westland, MI 48186
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0067806
For Lease
$2,660,000
2651 South Wayne Rd, Westland, MI 48186
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Total area
41,978 SF
Lot
4.98 ac (216,929 SF)
APN
56 075 99 0009 700
UPID
US43-0067806
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
-
Dollar Tree Home Decor Store Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.05M
Blend (final)
Blend
$2.66M
Owner & transaction history
K & H Property LLC · 1 yrs held
K & H Property LLC
since 2025
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.1M
+22.3%
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 Westland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westland 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
NEIGHBORHOOD: SHOPPING CENTER
$3,340,000
Current use
MEDICAL BUILDING
$4,085,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$2.66M
Range $2.39M – $2.93M · ±10% · vs last sale $2.27M (Jan 23 2025)
Last sale anchor
$2.27M
Jan 23 2025
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
$63 / 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
$67,302
Tax year 2023
Assessed value
$1,311,400
Assessed 2024
Previous assessed
$1,168,400
+12.2% YoY
Effective rate
5.13%
On assessed value
Total market value
$2,622,800
Applied tax rate
82,160.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1988
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
41,978 SF
Lot
4.98 ac (216,929 SF)
APN
56 075 99 0009 700
UPID
US43-0067806
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$4.1M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1988
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
4.98 ac
Current owner
From public records · entity-resolved
K & H Property LLC
Entity
Mailing address
3280 WARDS PT DR, WEST BLOOMFIELD, MI 48324-1651
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2025
$2,270,000
K & H Property LLC
Westland Investment Holdings LLC
Warranty Deed
$1,590,000 · Dfcu Financial
Apr 23, 2025
—
Westland Investment Holdings LLC
Westland Investment Holdings LLC
Deed
related
—
Jun 17, 2015
—
Westland Inv Holdings LLC
Kato,robert T & Bann
Deed In Lieu Of Foreclosure
related
—
May 30, 2007
$97,474
Wasington Square
Treasurer Of Wayne County
Grant Deed
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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