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Property profile & analytics
OFF-MARKET
Estimated value
$7,450,000
Distribution centers
28241 Mound Rd Warren, MI 48092-5523
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0230101
Property summary
AI-generated overview
This exceptional investment opportunity presents a 98,125-square-foot multi-tenant warehouse located at 28241 Mound Rd, Warren, MI 48092, in Macomb County. Built in 1988 and renovated in 2008, this property sits on an 8.26-acre lot and boasts a substantial 2024 estimated Net Operating Income (NOI) of $573,600. Currently 70% occupied, the building features three tenants, with the largest, Cort Furniture, occupying the majority of the space. The average remaining lease term is five years, providing immediate and long-term income potential. The warehouse offers 11 loading docks and 4 dock-high doors, along with impressive ceiling heights ranging from 28 to 30 feet. Significant expansion potential exists, with room to add over 50,000 square feet. The property includes 44,473 square feet of office space and robust power capabilities of 1,600 amps at 480 volts. This well-maintained industrial property offers a compelling investment opportunity with strong cash flow and significant upside potential. The property's prime location in Warren, Michigan, ensures easy access to major transportation routes and a thriving business community.
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1987
Total area
97,326 SF
Lot
8.26 ac (359,806 SF)
Zoning code
MZ
APN
12-13-17-277-003
UPID
US43-0230101
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
-
Central Michigan University Warren Center College University
-
Paradox Church Church
-
Home Church Brazilian Celebration Church
-
Autism Systems ABA Macomb Social Service Agency Charitable Organization
-
CORT Furniture Outlet Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.45M
Blend (final)
Blend
$7.45M
Owner & transaction history
Mound Road Realty Venture LLC · 7 yrs held
Mound Road Realty Venture LLC
since 2018
4 recorded transactions
Zoning & alternative use
MZ · Warren, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$10.1M
+53.8%
Office building
$9.2M
+40.6%
Restaurant
$8.4M
+28.1%
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 Warren submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Warren 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
WAREHOUSE, STORAGE
$6,565,000
Current use
RETAIL STORES
$10,095,000
Change: +54% · Conversion: Moderate
OFFICE BUILDING
$9,230,000
Change: +41% · Conversion: Difficult
RESTAURANT
$8,410,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$7,850,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,585,000
Change: +16% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,345,000
Change: -3% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,890,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$7.45M
Range $6.71M – $8.20M · ±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
$77 / 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
$122,155
Tax year 2022
Assessed value
$2,841,650
Assessed 2023
Previous assessed
$2,516,110
+12.9% YoY
Effective rate
4.30%
On assessed value
Total market value
$5,683,300
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Stories
2
Total area
97,326 SF
Lot
8.26 ac (359,806 SF)
Zoning code
MZ
APN
12-13-17-277-003
UPID
US43-0230101
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
MZ · Warren, MI
Zoning MZ · permitted uses
MZ · Warren, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Warren. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.6M
RETAIL STORES
Est. value
$10.1M
OFFICE BUILDING
Est. value
$9.2M
RESTAURANT
Est. value
$8.4M
MEDICAL BUILDING
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$6.3M
INDUSTRIAL (GENERAL)
Est. value
$5.9M
WAREHOUSE, STORAGE Current
RETAIL STORES
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1987
Heating
FORCED AIR
Stories
2
Lot
8.26 ac
Current owner
From public records · entity-resolved
Mound Road Realty Venture LLC
Entity
Mailing address
1010 BOWERS ST STE D, BIRMINGHAM, MI 48009-6797
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2018
—
Mound Road Realty Venture LLC
—
Deed
related
$3,800,000 · Ann Arbor St Bk
—
—
Mound Road Realty Venture LLC
—
Deed Of Trust
related
$3,500,000 · Cherrywood Com'l Lndg
—
—
Mound Road Realty Venture LLC
—
Deed Of Trust
related
$3,800,000 · Ann Arbor St Bk
—
—
Mound Road Realty Venture LLC
—
Deed Of Trust
related
$4,050,000 · Citizens First Savings 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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