Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Motels
2829 Oakwood Blvd Melvindale, MI 48122-1242
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-2357788
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1954
Total area
5,962 SF
Lot
0.41 ac (17,860 SF)
Zoning code
R1 1 FA
APN
47 006 01 0330 301
UPID
US43-2357788
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
-
Melrose Motel Hotel & Motel
-
Melrose Inn & Suites Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$360k
Comparable Approach
Comparable
$479k
Blend (final)
Blend
$585k
Owner & transaction history
Jai Capital LLC · 5 yrs held
Jai Capital LLC
since 2021
Last sale
$725,000
5 recorded transactions
Zoning & alternative use
R1 1 FA · Melvindale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$655,000
+76.8%
Restaurant
$615,000
+66.6%
Office building
$580,000
+56.3%
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 Melvindale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melvindale 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
$730,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$390,000
6.5%
$360,000
7%
$335,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$370,000
Current use
COMMERCIAL (GENERAL)
$655,000
Change: +77% · Conversion: Difficult
RESTAURANT
$615,000
Change: +67% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: +56% · Conversion: Difficult
MEDICAL BUILDING
$560,000
Change: +52% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$475,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$455,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $725k (Jun 30 2021)
Last sale anchor
$725k
Jun 30 2021
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
$98 / 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
$14,764
Tax year 2023
Assessed value
$175,900
Assessed 2024
Previous assessed
$170,900
+2.9% YoY
Effective rate
8.39%
On assessed value
Total market value
$351,800
Applied tax rate
82,045.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1954
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
5,962 SF
Lot
0.41 ac (17,860 SF)
Zoning code
R1 1 FA
APN
47 006 01 0330 301
UPID
US43-2357788
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
R1 1 FA · Melvindale, MI
Zoning R1 1 FA · permitted uses
R1 1 FA · Melvindale, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melvindale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$370,000
COMMERCIAL (GENERAL)
Est. value
$655,000
RESTAURANT
Est. value
$615,000
OFFICE BUILDING
Est. value
$580,000
MEDICAL BUILDING
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$475,000
RETAIL STORES
Est. value
$455,000
HOTEL/MOTEL 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
1954
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
Jai Capital LLC
Entity
Mailing address
2829 OAKWOOD BLVD, MELVINDALE, MI 48122-1242
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2021
$725,000
Jai Capital LLC
Leo Capital Ml LLC
Warranty Deed
$625,000 · State Bank Of Texas
Dec 16, 2019
$300,000
Leo Capital Ml LLC
Damini Ents INC
Grant Deed
$4,900,576 · Gaytri Group LLC
Sep 18, 2012
—
Damini Ents INC
Patel,mahesh & Shila
Quit Claim Deed
related
—
Jul 3, 2012
$470,000
Damini Enterprises INC
Nancy A Damnjanovic
Warranty Deed
$150,000 · National Republic Bank Of Chicago
—
—
Damini Ents INC
—
Loan Modification
related
$150,000 · Private Individual
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2829 Oakwood Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
