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Property profile & analytics
OFF-MARKET
Estimated value
$6,885,000
Drug stores
2823 Highland Rd 2885, Highland, MI 48356-2771
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1629758
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2005
Total area
46,500 SF
Lot
5.86 ac (255,262 SF)
Zoning code
BI
APN
H -11-13-376-021
UPID
US43-1629758
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
$7.60M
Blend (final)
Blend
$6.89M
Owner & transaction history
Highland Road Properties LLC · 9 yrs held
Highland Road Properties LLC
since 2016
7 recorded transactions
Zoning & alternative use
BI · Highland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.2M
+4.4%
Restaurant
$8.1M
+2.6%
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 Highland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland 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
RETAIL STORES
$7,850,000
Current use
COMMERCIAL (GENERAL)
$8,190,000
Change: +4% · Conversion: Easy
RESTAURANT
$8,050,000
Change: +3% · Conversion: Easy
MEDICAL BUILDING
$7,340,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$6.89M
Range $6.20M – $7.57M · ±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
$148 / 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
$102,681
Tax year 2023
Assessed value
$2,550,310
Assessed 2024
Previous assessed
$2,345,930
+8.7% YoY
Effective rate
4.03%
On assessed value
Total market value
$5,100,620
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2005
Heating
YES
Stories
1
Units
1
Total area
46,500 SF
Lot
5.86 ac (255,262 SF)
Zoning code
BI
APN
H -11-13-376-021
UPID
US43-1629758
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Highland, MI
Zoning BI · permitted uses
BI · Highland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Highland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$7.9M
COMMERCIAL (GENERAL)
Est. value
$8.2M
RESTAURANT
Est. value
$8.1M
MEDICAL BUILDING
Est. value
$7.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2005
Heating
YES
Stories
1
Units
1
Lot
5.86 ac
Current owner
From public records · entity-resolved
Highland Road Properties LLC
Entity
Mailing address
6242 TIMBERWOOD N, WEST BLOOMFIELD, MI 48322-2003
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Sep 27, 2016
—
Highland Road Properties LLC
—
Deed
related
$5,800,000 · Old National Bank
Sep 10, 2014
—
Highland Road Properties LLC
—
Grant Deed
related
$6,415,000 · Bank Of America
—
—
Highland Road Properties LLC
—
Deed Of Trust
$7,500,000 · Comerica Bank
—
—
Highland Road Properties LLC
—
Deed Of Trust
related
$200,000 · Bank Of Ann Arbor
—
—
Highland Road Properties LLC
—
Deed Of Trust
related
$300,000 · Comerica Bank
—
—
Highland Road Properties LLC
—
Deed Of Trust
related
$150,000 · Clarkston State Bank
—
—
Highland Road Properties LLC
—
Deed Of Trust
related
$200,000 · Comerica 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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