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Property profile & analytics
OFF-MARKET
Estimated value
$1,745,000
Industrial properties
28000 Wick Rd, Romulus, MI 48174-2638
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-1070743
Property summary
AI-generated overview
This exceptional 28,486-square-foot industrial property in Romulus, Michigan, presents a compelling redevelopment opportunity. Located on an expansive 8.36-acre lot (APN: 80-048-99-0008-004 & 80-048-99-0007-000), this single-story building (Year Built: 1966) boasts a 9' 10" ceiling height and nine loading docks, making it highly adaptable. Currently configured as a commercial kitchen with 100% occupancy under a 10-year absolute NNN lease, the property offers a strong investment opportunity with a 7.46% cap rate and a net operating income (NOI) of $156,673. The asking price is $2,100,000. Situated in Wayne County's M-T (Industrial Transportation District) zoning, this location provides unparalleled access to major transportation arteries, including I-94 via Middlebelt Road, and is less than a mile from the Detroit Metropolitan Airport. The property is partially paved, fenced, and gated. While currently operating as a commercial kitchen, the deed restricts future use for airline food service, opening doors for diverse redevelopment possibilities. This sale is structured as a sale-leaseback.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1966
Total area
24,888 SF
Lot
5.32 ac (231,739 SF)
Zoning code
M-T
APN
80 048 99 0008 004
UPID
US43-1070743
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
$1.75M
Blend (final)
Blend
$1.75M
Owner & transaction history
Badger Holdings Group INC
Badger Holdings Group INC
since 2025
2 recorded transactions
Zoning & alternative use
M-T · Romulus, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.7M
+114.5%
Restaurant
$2.6M
+102.3%
Office building
$2.4M
+89.7%
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 Romulus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Romulus 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
INDUSTRIAL (GENERAL)
$1,275,000
Current use
COMMERCIAL (GENERAL)
$2,735,000
Change: +115% · Conversion: Difficult
RESTAURANT
$2,575,000
Change: +102% · Conversion: Difficult
OFFICE BUILDING
$2,415,000
Change: +90% · Conversion: Difficult
MEDICAL BUILDING
$2,345,000
Change: +84% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,980,000
Change: +55% · Conversion: Difficult
RETAIL STORES
$1,895,000
Change: +49% · Conversion: Moderate
Blend value · Realmo final
$1.75M
Range $1.57M – $1.92M · ±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
$70 / 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
$29,648
Tax year 2023
Assessed value
$705,200
Assessed 2024
Previous assessed
$680,700
+3.6% YoY
Effective rate
4.20%
On assessed value
Total market value
$1,410,400
Applied tax rate
82,130.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Stories
1
Total area
24,888 SF
Lot
5.32 ac (231,739 SF)
Zoning code
M-T
APN
80 048 99 0008 004
UPID
US43-1070743
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
M-T · Romulus, MI
Zoning M-T · permitted uses
M-T · Romulus, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Romulus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.7M
RESTAURANT
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1966
Heating
FORCED AIR
Stories
1
Lot
5.32 ac
Current owner
From public records · entity-resolved
Badger Holdings Group INC
Entity
Free & Clear · 0 yrs held
Mailing address
11955 DEMOCRACY DR FL, RESTON, VA 20190-5657
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2025
—
Badger Holdings Group INC
Gate Gourmet INC
Deed
—
Aug 6, 2025
—
Badger Holdings Group INC
—
Deed
related
$1,446,865 · Bmo Bank NA
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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