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Property profile & analytics
OFF-MARKET
Estimated value
$2,920,000
Commercial real estate
27145 Karevich Dr, Novi, MI 48377-3311
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US43-1988444
Property summary
AI-generated overview
This exceptional 18,308-square-foot warehouse, situated on a 3.25-acre lot in Novi, Michigan, presents a compelling investment opportunity. Currently zoned C - Conference District, with a proposed rezoning to RC Regional Center, this property offers significant potential for future development. Built in 1979, the single-story building boasts ample parking with 110 spaces. The property features a commercial kitchen, adding versatility to its potential uses. Strategically located within Novi's Regional Shopping District, it enjoys convenient access to Novi Road and I-96, placing it in close proximity to major transportation arteries. Its prime location across from Twelve Oaks Mall further enhances its desirability and visibility. The asking price is $1,950,000, translating to $106.51 per square foot. This warehouse offers a unique blend of functionality and location, making it an attractive prospect for a variety of commercial ventures. The property's size, amenities, and strategic location combine to create a strong investment opportunity in a thriving Michigan market. A 3D walkthrough tour is available online. The address is 27145 Karevich Drive, Novi, MI 48377, in Oakland County.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1979
Total area
16,524 SF
Lot
3.89 ac (169,448 SF)
Zoning code
C
APN
50-22-15-200-107
UPID
US43-1988444
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
-
Pi's Kitchen Restaurant
-
Pi Distribution Incorporated Distribution Center Logistics Company
-
APACE Distribution Center Logistics Company
-
Pi's Asian Cuisine Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.08M
Blend (final)
Blend
$2.92M
Owner & transaction history
Gps Vector LLC
Gps Vector LLC
since 2026
7 recorded transactions
Zoning & alternative use
C · Novi, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.9M
+17.0%
Retail stores
$2.8M
+14.1%
Medical building
$2.6M
+6.7%
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 Novi submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Novi 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
COMMERCIAL (GENERAL)
$2,445,000
Current use
RESTAURANT
$2,860,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$2,790,000
Change: +14% · Conversion: Easy
MEDICAL BUILDING
$2,610,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,025,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$2.92M
Range $2.63M – $3.21M · ±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
$177 / 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
$66,245
Tax year 2023
Assessed value
$1,247,440
Assessed 2023
Previous assessed
$1,247,440
+0.0% YoY
Effective rate
5.31%
On assessed value
Total market value
$2,494,880
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1979
Heating
FORCED AIR
Stories
1
Total area
16,524 SF
Lot
3.89 ac (169,448 SF)
Zoning code
C
APN
50-22-15-200-107
UPID
US43-1988444
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C · Novi, MI
Zoning C · permitted uses
C · Novi, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Novi. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.4M
RESTAURANT
Est. value
$2.9M
RETAIL STORES
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.0M
COMMERCIAL (GENERAL) 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
1979
Heating
FORCED AIR
Stories
1
Lot
3.89 ac
Current owner
From public records · entity-resolved
Gps Vector LLC
Entity
Mailing address
125 S 5TH AVE, ANN ARBOR, MI 48104-1910
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2026
—
Gps Vector LLC
Thirteen York INC
Warranty Deed
—
Feb 4, 2025
—
Pis Property Management LLC
—
Deed
related
$2,150,000 · Stb Holdings LLC
Jan 28, 2025
—
Thirteen York INC
Pis Property Management LLC
Warranty Deed
—
Oct 8, 2024
$1,094,843
Bank Of Ann Arbor
Pis Property Management LLC
Sheriffs Deed
related
—
May 31, 2018
$1,000,000
Pis Property Management LLC
Pico Investment Company L C
Warranty Deed
$5,000,000 · First National Bank In Howell
May 30, 2018
—
Pico Investment Co Lc
Pico Investment Ltd
Quit Claim Deed
related
—
Mar 8, 2011
—
Pis Property Management LLC
Pico Investment Co Lc
Grant Deed
related
—
—
—
Pis Property Management LLC
—
Deed Of Trust
related
$5,400,000 · Chemical Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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