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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Retail space
29255 Jefferson Ave, Gibraltar, MI 48173-9738
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4775104
Property summary
AI-generated overview
This impressive 9,800 square foot medical office building, formerly a Save More Drugstore, is situated on a 1.1-acre lot at the corner of West Jefferson and Gibraltar. Its prime location offers excellent visibility and accessibility, making it ideal for a variety of uses, including medical offices, clinics, or even a grocery store given its size and proximity to residential areas. The building boasts a well-maintained exterior, ample parking, and a flexible interior layout that allows for customization to meet specific tenant needs. Large windows provide abundant natural light, creating a bright and welcoming atmosphere. The structure is well-constructed and durable, promising a professional and lasting business address. This single-tenant property presents a unique opportunity for businesses seeking a prominent location with significant space and potential. The adaptable layout supports multiple uses, inviting retail businesses to take advantage of this prime space. This is an incredible leasing opportunity in a desirable location with unlimited potential for growth and success.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2001
Total area
9,780 SF
Lot
1.17 ac (50,965 SF)
Zoning code
RESIDE
APN
36 012 99 0022 000
UPID
US43-4775104
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
$1.43M
Comparable Approach
Comparable
$1.21M
Blend (final)
Blend
$1.21M
Owner & transaction history
Jare Investment LLC · 3 yrs held
Jare Investment LLC
since 2022
2 recorded transactions
Zoning & alternative use
RESIDE · Gibraltar, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+44.2%
Restaurant
$1.0M
+36.0%
Office building
$950,000
+27.5%
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 Gibraltar submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gibraltar 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
$1,200,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,545,000
6.5%
$1,425,000
7%
$1,325,000
Alternative Use
Use
Estimation
RETAIL STORES
$745,000
Current use
COMMERCIAL (GENERAL)
$1,075,000
Change: +44% · Conversion: Easy
RESTAURANT
$1,015,000
Change: +36% · Conversion: Easy
OFFICE BUILDING
$950,000
Change: +28% · Conversion: Easy
MEDICAL BUILDING
$920,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$780,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$1.21M
Range $1.09M – $1.33M · ±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
$124 / 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
$27,516
Tax year 2023
Assessed value
$413,000
Assessed 2024
Previous assessed
$393,100
+5.1% YoY
Effective rate
6.66%
On assessed value
Total market value
$826,000
Applied tax rate
82,290.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2001
Heating
FORCED AIR
Stories
1
Total area
9,780 SF
Lot
1.17 ac (50,965 SF)
Zoning code
RESIDE
APN
36 012 99 0022 000
UPID
US43-4775104
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
RESIDE · Gibraltar, MI
Zoning RESIDE · permitted uses
RESIDE · Gibraltar, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gibraltar. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$745,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.0M
OFFICE BUILDING
Est. value
$950,000
MEDICAL BUILDING
Est. value
$920,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$780,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
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
2001
Heating
FORCED AIR
Stories
1
Lot
1.17 ac
Current owner
From public records · entity-resolved
Jare Investment LLC
Entity
Mailing address
21950 DOXTATOR ST, DEARBORN, MI 48128-1430
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2022
$1,000,000
Jare Investment LLC
Haddix Land Co LLC
Warranty Deed
—
—
—
Haddix Land Co LLC
—
Deed Of Trust
related
$800,000 · Huntington National 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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