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Property profile & analytics
OFF-MARKET
Estimated value
$440,000
Grocery and convenience stores
28995 Telegraph Rd Southfield, MI 48034-7509
Entity Owned
27-yr Hold
~
Est. High Equity
Property ID
US43-1242103
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1997
Total area
3,108 SF
Lot
0.73 ac (31,886 SF)
Zoning code
B-3
APN
76-24-17-201-069
UPID
US43-1242103
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
-
bp Gas Station
-
Cloverleaf Amoco Gas Station
-
MoneyGram Bank Credit Union
-
Sunoco Gas Station Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$440k
CAP Approach
CAP
$515k
Comparable Approach
Comparable
$568k
Blend (final)
Blend
$440k
Owner & transaction history
Lutfy Investments LLC · 27 yrs held
Lutfy Investments LLC
since 1998
4 recorded transactions
Zoning & alternative use
B-3 · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The General Business District (B-3) is designed to provide sites for diversified business types and is often located so as to serve passerby traffic
Zone name
General Business
General category
COMMERCIAL
Zone area
439.03 ac
Source
Realmo
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 Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield 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
$440,000
CAP Approach
CAP Return
Estimation
6%
$555,000
6.5%
$515,000
7%
$480,000
Alternative Use
Use
Estimation
RETAIL STORES
$700,000
Current use
Blend value · Realmo final
$440k
Range $396k – $484k · ±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
$142 / 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
$31,381
Tax year 2022
Assessed value
$705,600
Assessed 2022
Previous assessed
$705,600
+0.0% YoY
Effective rate
4.45%
On assessed value
Assessed land
$105,980
Assessed improvement
$599,620
Land market value
$211,960
Improvement market value
$1,199,240
Total market value
$1,411,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
3,108 SF
Lot
0.73 ac (31,886 SF)
Zoning code
B-3
APN
76-24-17-201-069
UPID
US43-1242103
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Southfield, MIZoning B-3 · permitted uses
B-3 · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The General Business District (B-3) is designed to provide sites for diversified business types and is often located so as to serve passerby traffic
Zone name
General Business
General category
COMMERCIAL
Zone area
439.03 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$700,000
RETAIL STORES Current
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
Lutfy Investments LLC
Entity
Mailing address
28995 TELEGRAPH RD, SOUTHFIELD, MI 48034-7509
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1998
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
Dec 8, 2023
—
Lutfy Investments LLC
—
Deed
related
$1,894,457 · Superior National Bank
Sep 9, 2020
—
Lutfy Investments LLC
—
Deed
related
$200,000 · Main Street Bank
Oct 30, 1998
—
Lutfy Investments LLC
Lutfy,anthony & Catherine R
Quit Claim Deed
related
$1,279,000 · Great Lakes Nat'l Bank Michiga
—
—
Lutfy Investments LLC
—
Loan Modification
related
$1,769,524 · Main Street Bk
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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