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Property profile & analytics
OFF-MARKET
Estimated value
$1,205,000
Flex space
28162 23rd Mile Rd, Chesterfield, MI 48051-2318
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US43-1857128
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1973
Total area
19,768 SF
Lot
1.7 ac (73,965 SF)
Zoning code
C2 SHO
APN
15-09-20-201-022
UPID
US43-1857128
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
-
U-Haul Neighborhood Dealer Car Rental Facility
-
Oakland Welding Industries General Contractor
-
Macomb Storage 23 Mile & U-Haul Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.20M
Blend (final)
Blend
$1.21M
Owner & transaction history
Macomb Storage 23 Mile LLC · 7 yrs held
Macomb Storage 23 Mile LLC
since 2019
7 recorded transactions
Zoning & alternative use
C2 SHO · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+28.3%
Auto repair, garage
$1.7M
+16.4%
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 Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterfield 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)
$1,460,000
Current use
OFFICE BUILDING
$1,875,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,700,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$1,335,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$1.21M
Range $1.08M – $1.33M · ±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
$61 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$16,391
Tax year 2022
Assessed value
$342,100
Assessed 2023
Previous assessed
$336,400
+1.7% YoY
Effective rate
4.79%
On assessed value
Total market value
$684,200
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Stories
1
Total area
19,768 SF
Lot
1.7 ac (73,965 SF)
Zoning code
C2 SHO
APN
15-09-20-201-022
UPID
US43-1857128
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C2 SHO · Chesterfield, MI
Zoning C2 SHO · permitted uses
C2 SHO · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1973
Heating
FORCED AIR
Stories
1
Lot
1.7 ac
Current owner
From public records · entity-resolved
Macomb Storage 23 Mile LLC
Entity
Mailing address
2464 DEVONSHIRE RD, BLOOMFIELD HILLS, MI 48302-0627
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2019
—
Macomb Storage 23 Mile LLC
Mp Assets LLC
Trustees Deed
$2,100,000 · Genisys Cu
Jan 31, 2019
—
Mp Assets LLC
—
Deed
related
$1,220,465 · Repwest Insurance Co
Mar 31, 2014
$1,360,000
Mp Assets LLC
23 & Metzen Storage LLC
Grant Deed
related
$1,350,000 · Skymar Cap
Oct 5, 2004
—
Oakland Welding Industries INC
Oakland Welding Industries INC
Quit Claim Deed
related
—
Sep 13, 2004
—
23 & Metzen Storage LLC
Oakland Welding Inds INC
Warranty Deed
related
—
—
—
Mp Assets LLC
—
Loan Modification
related
$1,220,465 · Repwest Insurance Co
—
—
23 & Metzen Storage LLC
—
Deed Of Trust
related
$250,000 · Citizens State 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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