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Property profile & analytics
OFF-MARKET
Estimated value
$14,445,000
Outlet malls
28804 Gratiot Ave Roseville, MI 48066-4235
Trust Owned
13-yr Hold
Free & Clear
Property ID
US43-2305610
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2001
Total area
179,653 SF
Lot
11.56 ac (503,554 SF)
Zoning code
B-2
APN
08-14-16-101-008
UPID
US43-2305610
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
-
Walmart Photo Center (Bike/Boat/Book/etc) Store
-
Saira Nishath Khan Physician
-
Dr. Saira Khan Physician
-
Ria Money Transfer - Walmart Bank Credit Union
-
Walmart Garden Center Garden Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.44M
Blend (final)
Blend
$14.45M
Owner & transaction history
Wal-mart Real Estate Business Trust · 13 yrs held
Wal-mart Real Estate Business Trust
since 2013
1 recorded transaction
Zoning & alternative use
B-2 · Roseville, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$22.1M
+84.2%
Commercial (general)
$18.9M
+57.4%
Auto repair, garage
$15.5M
+29.0%
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 Roseville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Roseville 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
RETAIL STORES
$11,975,000
Current use
MEDICAL BUILDING
$22,065,000
Change: +84% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,850,000
Change: +57% · Conversion: Easy
AUTO REPAIR, GARAGE
$15,450,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$12,115,000
Change: +1% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$10,630,000
Change: -11% · Conversion: Difficult
OFFICE BUILDING
$9,845,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$14.45M
Range $13.00M – $15.89M · ±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
$80 / 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
$311,014
Tax year 2022
Assessed value
$5,801,900
Assessed 2023
Previous assessed
$5,462,400
+6.2% YoY
Effective rate
5.36%
On assessed value
Total market value
$11,603,800
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Stories
1
Total area
179,653 SF
Lot
11.56 ac (503,554 SF)
Zoning code
B-2
APN
08-14-16-101-008
UPID
US43-2305610
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Roseville, MI
Zoning B-2 · permitted uses
B-2 · Roseville, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Roseville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$12.0M
MEDICAL BUILDING
Est. value
$22.1M
COMMERCIAL (GENERAL)
Est. value
$18.9M
AUTO REPAIR, GARAGE
Est. value
$15.5M
WAREHOUSE, STORAGE
Est. value
$12.1M
INDUSTRIAL (GENERAL)
Est. value
$10.6M
OFFICE BUILDING
Est. value
$9.8M
RETAIL STORES Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
2001
Heating
FORCED AIR
Stories
1
Lot
11.56 ac
Current owner
From public records · entity-resolved
Wal-mart Real Estate Business Trust
Trust
Free & Clear · 13 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2013
—
Wal-mart Real Estate Business Trust
Ramco-gershenson Properties LP
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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