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Property profile & analytics
OFF-MARKET
Retail space
28314 Joy Rd Livonia, MI 48150-4134
Individually Owned
4-yr Hold
Free & Clear
Property ID
US43-0070123
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1941
Total area
2,816 SF
Lot
0.4 ac (17,424 SF)
APN
46 144 99 0031 000
UPID
US43-0070123
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
-
Fundamentals Learning Center Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Russell B Armstrong JR · 4 yrs held
Russell B Armstrong JR
since 2021
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Livonia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Livonia 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,748
Tax year 2023
Assessed value
$100,700
Assessed 2024
Previous assessed
$97,700
+3.1% YoY
Effective rate
5.71%
On assessed value
Total market value
$201,400
Applied tax rate
82,095.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1941
Heating
FORCED AIR
Buildings
1
Stories
1
Rooms
3
Bathrooms
1
Total area
2,816 SF
Lot
0.4 ac (17,424 SF)
APN
46 144 99 0031 000
UPID
US43-0070123
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1941
Heating
FORCED AIR
Stories
1
Buildings
1
Rooms
3
Bathrooms
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Russell B Armstrong JR
Individual
Free & Clear · 4 yrs held
Mailing address
28302 JOY RD, LIVONIA, MI 48150-4134
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
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2021
—
Russell B Armstrong JR
Richard H Lewis
Warranty Deed
—
Dec 8, 2021
$236,100
Rocket Offer Com INC
Mastroianni Properties II LLC
Warranty Deed
$277,700 · First Equity Realty Corporation
Nov 24, 2021
$320,000
Frank Mastroianni
Bresson Enterprise 2 LLC
Warranty Deed
—
Nov 24, 2021
$200,000
Mastrojanni Properties II LLC
Frank Mastroianni
Warranty Deed
—
Oct 19, 2021
—
Frank Mastroianni Of Mastroianni Pr
—
Deed
related
$200,000 · Oakland County Capital LLC
Feb 19, 2020
—
Frank Mastroianni
—
Deed
related
$270,000 · Bresson Ent 5 LLC
Nov 12, 2018
—
Frank Mastroianni
—
Trustees Deed
related
$50,000 · Laurent Bresson
Mar 22, 2018
—
Frank Mastroianni
Bresson Ent 2 LLC
Quit Claim Deed
—
Feb 2, 2018
$240,000
Bresson Ent 2 LLC
Mastroianni Properties LLC
Warranty Deed
—
Apr 4, 2017
$240,000
Mastroianni Properties LLC 1
Lynn,kathleen A
Warranty Deed
—
Dec 19, 2014
$117,000
Source Construction INC|lyn Home
Lynn,kathleen A
Dual Purpose Document
$83,000 · Kathleen A Lynn
—
—
Frank Mastroianni
—
Deed Of Trust
related
$270,000 · Bresson Ent 5 LLC
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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