Realmo Analytics

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Financial
Distress signals
Property profile

2851 Russell St Detroit, MI 48207

FOR SALE
Medical Office Space
Property ID
US43-0902768
24,179 SF 0.88 ac lot Built 1986
Last sale Aug 2016 · $2,400,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 10-yr Hold Held for 10 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

Exceptional investment opportunity: a 48,960-square-foot Class A medical office building in Detroit, Michigan. This sale-leaseback property boasts a 15-year lease commencing January 1, 2024, and expiring December 31, 2039, with two 5-year renewal options. The tenant, a prominent mental health care provider in Wayne County, occupies the entire building. The building, constructed in 1987 and extensively renovated between 2020 and 2023 (with ongoing improvements), features a two-story structure…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2020

What does the county charge?
$48k
Tax billed · 2020
Assessed value · 2024$1.19M
Effective rate4.04%

Value estimate

· Oct 2026
$2.41M
$2.16M – $2.65M
Submarket $/SF estimate$1.95M
NOI build-up
Gross scheduled income$940k
Vacancy & credit loss−$94k
Operating expenses−$338k
NOI · 3.65% cap applied$508k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$63/SF
Submarket average, outlier-cleaned · 78 recorded sales of this use type
Observed band · Q1–Q3$41 – $95

Cap rate analysis

How does the asset earn?
3.65%
$508k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
B6
The B6 general services district provides for wholesaling, transport, food services and similar activities essential to the commerce and ...
General categoryUNKNOWN
JurisdictionWAYNE

Location intelligence

Which uses thrive at this corner?
Best fit: Building Supply
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Building Supply34.2
Auto Repair Shop31.3
Spa & Massage29.1

Location

2851 Russell St Detroit, MI 48207
County assessor Recorded deeds · 6 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

1 recorded sale · 18 properties nearby
Recent sales nearby
1 recorded sale in this ZIP, last 8 years
Address Sale price Sold Size
3413 Mcdougall, Detroit, MI 48207-2458 $16,000 Oct 2021 6,037 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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