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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
29111 Wick Rd, Romulus, MI 48174-2514
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0408667
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1959
Total area
4,920 SF
Lot
2.86 ac (124,582 SF)
Zoning code
M-T
APN
80 050 01 0008 301
UPID
US43-0408667
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$590k
Blend (final)
Blend
$590k
Owner & transaction history
29111 Wick LLC · 9 yrs held
29111 Wick LLC
since 2017
2 recorded transactions
Zoning & alternative use
M-T · Romulus, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$600,000
+38.6%
Medical building
$465,000
+7.3%
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 Romulus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Romulus 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
$430,000
Current use
COMMERCIAL (GENERAL)
$600,000
Change: +39% · Conversion: Easy
MEDICAL BUILDING
$465,000
Change: +7% · Conversion: Easy
RETAIL STORES
$405,000
Change: -6% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$390,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$120 / 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
$19,177
Tax year 2023
Assessed value
$319,300
Assessed 2024
Previous assessed
$311,400
+2.5% YoY
Effective rate
6.01%
On assessed value
Total market value
$638,600
Applied tax rate
82,130.0000
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
Off-Market
Year built
1959
Heating
FORCED AIR
Stories
1
Total area
4,920 SF
Lot
2.86 ac (124,582 SF)
Zoning code
M-T
APN
80 050 01 0008 301
UPID
US43-0408667
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
M-T · Romulus, MI
Zoning M-T · permitted uses
M-T · Romulus, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Romulus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$430,000
COMMERCIAL (GENERAL)
Est. value
$600,000
MEDICAL BUILDING
Est. value
$465,000
RETAIL STORES
Est. value
$405,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$390,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1959
Heating
FORCED AIR
Stories
1
Lot
2.86 ac
Current owner
From public records · entity-resolved
29111 Wick LLC
Entity
Mailing address
29200 NORTHWESTERN HWY STE #450, SOUTHFIELD, MI 48034-1075
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2017
$1,500,000
29111 Wick LLC
29 Wick LLC
Warranty Deed
$1,000,000 · Community Choice Cu
Aug 6, 2007
—
29 Wick LLC
Integrity Rentals INC
Warranty Deed
—
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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