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Property profile & analytics
OFF-MARKET
Estimated value
$185,000
Office buildings
2818 Grand Blvd Detroit, MI 48211-2065
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-5035892
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1928
Total area
10,050 SF
Lot
0.15 ac (6,534 SF)
Zoning code
M3
APN
05002555.
UPID
US43-5035892
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
$664k
Blend (final)
Blend
$185k
Owner & transaction history
Pal Properties LLC
Pal Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
M3 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4) M4 Intensive Industrial District. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-…
Zone name
General Industrial District
General category
INDUSTRIAL
Zone area
545.75 ac
Source
code of ordinances
Top alternative use upside
Commercial (general)
$915,000
+48.1%
Restaurant
$915,000
+48.0%
Neighborhood: shopping center
$760,000
+22.9%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
OFFICE BUILDING
$620,000
Current use
COMMERCIAL (GENERAL)
$915,000
Change: +48% · Conversion: Easy
RESTAURANT
$915,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$760,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$695,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$635,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$610,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$185k
Range $167k – $204k · ±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
$18 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$3,051
Tax year 2020
Assessed value
$255,800
Assessed 2024
Previous assessed
$251,100
+1.9% YoY
Effective rate
1.19%
On assessed value
Total market value
$511,600
Applied tax rate
82,010.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1928
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
10,050 SF
Lot
0.15 ac (6,534 SF)
Zoning code
M3
APN
05002555.
UPID
US43-5035892
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
M3 · Detroit, MIZoning M3 · permitted uses
M3 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
-7-3; Ord. No. 11-05, § 1(61-7-3), eff. 5-28-2005) Sec. 50-7-4. - Industrial Districts. Industrial districts within the City are as follows: (1) M1 Limited Industrial District. (2) M2 Restricted Industrial District. (3) M3 General Industrial District. (4) M4 Intensive Industrial District. (5) M5 Special Industrial District. (Code 1984, § 61-7-4; Ord. No. 11-05, § 1(61-7-4), eff. 5-28-2005) Sec. 50-7-5. - Special districts. Special distric
Zone name
General Industrial District
General category
INDUSTRIAL
Zone area
545.75 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$915,000
RESTAURANT
Est. value
$915,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$760,000
RETAIL STORES
Est. value
$695,000
MEDICAL BUILDING
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$610,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
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
1928
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Pal Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2820 E GRAND BLVD, DETROIT, MI 48211-2065
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
Sep 8, 2025
—
Pal Properties LLC
Arlene Ann Howrani
Deed
—
Feb 10, 2009
—
Ameen A Howrani
Howrani,ameen A
Quit Claim Deed
related
—
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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