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Property profile & analytics
OFF-MARKET
Estimated value
$3,780,000
Warehouses
2937 Grand Blvd, Detroit, MI 48202-3149
Entity Owned
Free & Clear
Property ID
US43-0545720
Property summary
AI-generated overview
Chroma, located at 2937 E Grand Blvd in Detroit, Michigan (SW corner of E Grand Blvd and Milwaukee), offers 80,540 square feet of prime office space in a nine-story building. Currently, 8,058 square feet is available for lease. This Class B building, originally constructed in 1912 and extensively renovated in 2020, provides a unique blend of traditional, executive, and creative office spaces, catering to diverse business needs. The building features 190 parking spaces and elevators for convenient access. Situated in the vibrant Milwaukee Junction neighborhood of Wayne County, Chroma is part of a rapidly growing area with numerous new restaurants, businesses, and residential developments. Its single-tenant occupancy allows for a cohesive and collaborative work environment. The building's architectural character is enhanced by its prominent artwork, including the "Girl with the D Earring." This property presents a compelling opportunity for businesses seeking a blend of historic charm and modern functionality in a thriving Detroit location. The zip code is 48202.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1913
Total area
73,192 SF
Lot
0.2 ac (8,712 SF)
Zoning code
M3
APN
01001921.
UPID
US43-0545720
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
-
Platinum & Gold Construction General Contractor
-
Bloomscape Corporate Office
-
Slyvester Tyler Real Estate Agency
-
VVK PR + Creative Marketing & Advertising Advertising Agency
-
Zoom Fingerprints LLC Fingerprinting Service Notary Public
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.83M
Blend (final)
Blend
$3.78M
Owner & transaction history
Chroma Portfolio LLC
Chroma Portfolio LLC
since 2025
7 recorded transactions
Zoning & alternative use
M3 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$5.5M
+135.2%
Retail stores
$5.1M
+114.5%
Medical building
$4.6M
+95.6%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
WAREHOUSE, STORAGE
$2,360,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,545,000
Change: +135% · Conversion: Moderate
RETAIL STORES
$5,055,000
Change: +115% · Conversion: Moderate
MEDICAL BUILDING
$4,610,000
Change: +96% · Conversion: Difficult
OFFICE BUILDING
$4,510,000
Change: +91% · Conversion: Difficult
Blend value · Realmo final
$3.78M
Range $3.40M – $4.16M · ±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
$52 / 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
$145,405
Tax year 2023
Assessed value
$3,678,400
Assessed 2024
Previous assessed
$3,678,400
+0.0% YoY
Effective rate
3.95%
On assessed value
Total market value
$7,356,800
Applied tax rate
82,010.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1913
Heating
FORCED AIR
Buildings
3
Stories
9
Total area
73,192 SF
Lot
0.2 ac (8,712 SF)
Zoning code
M3
APN
01001921.
UPID
US43-0545720
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
M3 · Detroit, MI
Zoning M3 · permitted uses
M3 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
RETAIL STORES
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$4.6M
OFFICE BUILDING
Est. value
$4.5M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
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
1913
Heating
FORCED AIR
Stories
9
Buildings
3
Lot
0.2 ac
Current owner
From public records · entity-resolved
Chroma Portfolio LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2937 E GRAND BLVD STE #2300, DETROIT, MI 48202-3149
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2025
—
Chroma Portfolio LLC
Ceroma Owner 2 0 LLC
Deed
—
Aug 11, 2025
—
Chroma Portfolio LLC
—
Deed
related
$4,687,500 · First State Bank
Nov 22, 2021
—
Chroma Owner 2 0 LLC
—
Deed
related
$3,000,000 · Pnc Mortgagee National Association
Dec 4, 2018
—
Chroma Owner 2 0 LLC
Chroma Owner LLC
Deed
—
Sep 28, 2017
—
Chroma Owner LLC
2937 E Grand Boulevard Owner L
Warranty Deed
—
Feb 10, 2015
—
2937 E Grand Boulevard Owner L
Tdpb Holdings LLC
Warranty Deed
—
Feb 24, 2012
$270,000
Tdpb Holdings LLC
D & K Investments Group LLC
Warranty Deed
$135,000 · Jpmorgan Chase Bank NA
Dec 2, 2008
—
Old Capital LLC
D & K Investment Group LLC
Quit Claim Deed
related
—
Jun 13, 2008
—
D & K Investment Group LLC
Iron Mtn Information Mgmt INC
Quit Claim Deed
related
—
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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