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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Flex space
28517 Lorna Ave Warren, MI 48092-2769
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4196060
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1998
Total area
5,776 SF
Lot
0.38 ac (16,727 SF)
Zoning code
M-3
APN
12-13-16-201-022
UPID
US43-4196060
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
$520k
Blend (final)
Blend
$520k
Owner & transaction history
Pjtw INC · 7 yrs held
Pjtw INC
since 2019
2 recorded transactions
Zoning & alternative use
M-3 · Warren, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$600,000
+71.5%
Office building
$550,000
+56.7%
Restaurant
$500,000
+42.8%
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
INDUSTRIAL (GENERAL)
$350,000
Current use
RETAIL STORES
$600,000
Change: +71% · Conversion: Moderate
OFFICE BUILDING
$550,000
Change: +57% · Conversion: Difficult
RESTAURANT
$500,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$465,000
Change: +33% · Conversion: Difficult
AUTO REPAIR, GARAGE
$450,000
Change: +29% · Conversion: Easy
WAREHOUSE, STORAGE
$390,000
Change: +11% · Conversion: Easy
COMMERCIAL (GENERAL)
$375,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$90 / 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
$9,108
Tax year 2022
Assessed value
$251,990
Assessed 2023
Previous assessed
$179,720
+40.2% YoY
Effective rate
3.61%
On assessed value
Total market value
$503,980
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Stories
1
Total area
5,776 SF
Lot
0.38 ac (16,727 SF)
Zoning code
M-3
APN
12-13-16-201-022
UPID
US43-4196060
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-3 · Warren, MI
Zoning M-3 · permitted uses
M-3 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$350,000
RETAIL STORES
Est. value
$600,000
OFFICE BUILDING
Est. value
$550,000
RESTAURANT
Est. value
$500,000
MEDICAL BUILDING
Est. value
$465,000
AUTO REPAIR, GARAGE
Est. value
$450,000
WAREHOUSE, STORAGE
Est. value
$390,000
COMMERCIAL (GENERAL)
Est. value
$375,000
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
COMMERCIAL (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
1998
Heating
FORCED AIR
Stories
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Pjtw INC
Entity
Mailing address
11671 SQUIERS BLVD, UTICA, MI 48315-5936
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2019
—
Pjtw INC
—
Deed
related
$500,000 · Amg Real Estate Ventures LLC
—
—
Pjtw INC
—
Deed Of Trust
related
$500,000 · Amg Real Estate Ventures 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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