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Property profile & analytics
OFF-MARKET
Estimated value
$1,575,000
Motels
29101 23rd Mile Rd Chesterfield, MI 48047-1857
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-1828567
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1974
Total area
12,850 SF
Lot
1.95 ac (84,855 SF)
Zoning code
C3 GEN
APN
15-09-16-300-018
UPID
US43-1828567
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
-
Lodge Keeper Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.58M
Owner & transaction history
Shaanlodging INC · 3 yrs held
Shaanlodging INC
since 2023
Last sale
$1.7M
5 recorded transactions
Zoning & alternative use
C3 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterfield 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
$1,270,000
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
$2,390,000
Change: 0% · Conversion: Difficult
RESTAURANT
$1,820,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$1,580,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,320,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$1,220,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,105,000
Change: 0% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,005,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.58M
Range $1.42M – $1.73M · ±10% · vs last sale $1.73M (Mar 1 2024)
Last sale anchor
$1.73M
Mar 1 2024
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
$123 / 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
$21,045
Tax year 2022
Assessed value
$504,400
Assessed 2023
Previous assessed
$464,900
+8.5% YoY
Effective rate
4.17%
On assessed value
Total market value
$1,008,800
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1974
Heating
FORCED AIR
Stories
1
Total area
12,850 SF
Lot
1.95 ac (84,855 SF)
Zoning code
C3 GEN
APN
15-09-16-300-018
UPID
US43-1828567
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C3 GEN · Chesterfield, MI
Zoning C3 GEN · permitted uses
C3 GEN · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$2.4M
RESTAURANT
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (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
1974
Heating
FORCED AIR
Stories
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
Shaanlodging INC
Entity
Mailing address
29101 23RD MILE RD, CHESTERFIELD, MI 48047-1857
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2023
—
Shaanlodging INC
—
Deed
related
$500,000 · American Bank NA
Jan 12, 2023
$1,225,000
Shaanlodging INC
Ambaji INC
Warranty Deed
—
Dec 14, 2005
$1,020,000
Ambaji INC
Buckhead America Corp
Grant Deed
—
Sep 20, 2005
$825,000
Buckhead America Corp
Spears,wendell E & Ramona A
Grant Deed
—
—
—
Ambaji INC
—
Deed Of Trust
related
$840,000 · Blx Capital 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.
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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