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Property profile & analytics
FOR LEASE
Office buildings
28913 Woodward Ave Berkley, MI 48072
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1696612
For Lease
1 / 2
$1,155,000
28913 Woodward Ave, Berkley, MI 48072
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Total area
8,021 SF
Lot
0.46 ac (20,038 SF)
Zoning code
BI
APN
04-25-17-204-009
UPID
US43-1696612
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
-
House of Renew Hardware & Home Improvement General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.16M
Owner & transaction history
Berkley Office Limited Partnership · 4 yrs held
Berkley Office Limited Partnership
since 2022
4 recorded transactions
Zoning & alternative use
BI · Berkley, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+50.2%
Restaurant
$1.4M
+47.6%
Retail stores
$1.4M
+43.9%
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
OFFICE BUILDING
$940,000
Current use
COMMERCIAL (GENERAL)
$1,415,000
Change: +50% · Conversion: Easy
RESTAURANT
$1,390,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$1,355,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$1,265,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$985,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±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
$144 / 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
$18,118
Tax year 2023
Assessed value
$564,790
Assessed 2024
Previous assessed
$533,420
+5.9% YoY
Effective rate
3.21%
On assessed value
Total market value
$1,129,580
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1980
Heating
YES
Buildings
4
Stories
1
Units
1
Total area
8,021 SF
Lot
0.46 ac (20,038 SF)
Zoning code
BI
APN
04-25-17-204-009
UPID
US43-1696612
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Berkley, MI
Zoning BI · permitted uses
BI · Berkley, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$940,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$985,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1980
Heating
YES
Stories
1
Buildings
4
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Berkley Office Limited Partnership
Entity
Mailing address
47 W DIVISION ST #342, CHICAGO, IL 60610-2954
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jan 15, 2022
—
Berkley Office Limited Partnership
—
Deed
related
$4,687,000 · First State Bank
Nov 18, 2016
—
Berkley Office LP
—
Deed
related
$3,450,000 · Chemical Bank
—
—
Berkley Office LP
—
Loan Modification
related
—
—
—
Berkley Office LP
—
Deed Of Trust
related
$1,025,000 · Suburban Bank & Trust Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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