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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Medical Office Space
28905 Woodward Ave Berkley, MI 48072-0923
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1786787
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1970
Total area
3,744 SF
Lot
0.39 ac (16,988 SF)
Zoning code
BI
APN
04-25-17-205-015
UPID
US43-1786787
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
-
Lauren Oliver, DO Physician Medical Clinic
-
Neil Sachanandani, MD Physician
-
Dr. Paul Bove Physician
-
Andrew Kelly Gavagan Physician Medical Clinic
-
Dr. Andrew Gavagan Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$855k
Blend (final)
Blend
$700k
Owner & transaction history
Basalt Investments LLC · 7 yrs held
Basalt Investments LLC
since 2019
4 recorded transactions
Zoning & alternative use
BI · Berkley, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$660,000
+11.6%
Retail stores
$630,000
+6.9%
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 Berkley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkley 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
MEDICAL BUILDING
$590,000
Current use
COMMERCIAL (GENERAL)
$660,000
Change: +12% · Conversion: Easy
RETAIL STORES
$630,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±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
$187 / 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
$16,303
Tax year 2023
Assessed value
$326,650
Assessed 2024
Previous assessed
$308,950
+5.7% YoY
Effective rate
4.99%
On assessed value
Total market value
$653,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1970
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Total area
3,744 SF
Lot
0.39 ac (16,988 SF)
Zoning code
BI
APN
04-25-17-205-015
UPID
US43-1786787
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Berkley, MIZoning BI · permitted uses
BI · Berkley, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$660,000
RETAIL STORES
Est. value
$630,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
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
1970
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Basalt Investments LLC
Entity
Mailing address
320 MARTIN ST STE #100, BIRMINGHAM, MI 48009-1486
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2019
—
Basalt Investments LLC
Racoon Mahooning Associates LLC
Quit Claim Deed
related
$900,000 · Associated Bank NA
Mar 28, 2019
$3,500
Racoon-mahoning Associates LLC
Northwood Physicians PC
Warranty Deed
—
Jan 4, 2019
—
Racoon-mahoning Associatese LLC
Woodberk Med LLC
Grant Deed
—
Aug 16, 2013
$355,000
Woodberk Med LLC
Shouneyia Family Ptshp LLC
Warranty Deed
$515,000 · Level One Bank
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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