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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Turn key restaurants
29387 Airport Dr Romulus, MI 48174-2524
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0055600
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1988
Total area
5,488 SF
Lot
0.94 ac (40,946 SF)
Zoning code
C3-HWY
APN
80 050 02 0017 302
UPID
US43-0055600
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
$523k
Blend (final)
Blend
$525k
Owner & transaction history
Bill Saad Properties LLC · 7 yrs held
Bill Saad Properties LLC
since 2019
3 recorded transactions
Zoning & alternative use
C3-HWY · Romulus, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$670,000
+57.7%
Medical building
$515,000
+22.1%
Office building
$480,000
+13.8%
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
RESTAURANT
$425,000
Current use
COMMERCIAL (GENERAL)
$670,000
Change: +58% · Conversion: Easy
MEDICAL BUILDING
$515,000
Change: +22% · Conversion: Difficult
OFFICE BUILDING
$480,000
Change: +14% · Conversion: Moderate
RETAIL STORES
$450,000
Change: +7% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$435,000
Change: +3% · Conversion: Difficult
AUTO REPAIR, GARAGE
$390,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$96 / 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
$15,800
Tax year 2023
Assessed value
$347,000
Assessed 2024
Previous assessed
$320,300
+8.3% YoY
Effective rate
4.55%
On assessed value
Total market value
$694,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1988
Heating
FORCED AIR
Stories
1
Total area
5,488 SF
Lot
0.94 ac (40,946 SF)
Zoning code
C3-HWY
APN
80 050 02 0017 302
UPID
US43-0055600
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C3-HWY · Romulus, MI
Zoning C3-HWY · permitted uses
C3-HWY · 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
RESTAURANT Current
Est. value
$425,000
COMMERCIAL (GENERAL)
Est. value
$670,000
MEDICAL BUILDING
Est. value
$515,000
OFFICE BUILDING
Est. value
$480,000
RETAIL STORES
Est. value
$450,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$435,000
AUTO REPAIR, GARAGE
Est. value
$390,000
RESTAURANT Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1988
Heating
FORCED AIR
Stories
1
Lot
0.94 ac
Current owner
From public records · entity-resolved
Bill Saad Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1 W JEFFERSON AVE, TRENTON, MI 48183-1237
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 17, 2019
$985,000
Bill Saad Properties LLC
29387 Airport Drive LLC
Warranty Deed
—
Sep 28, 2017
—
29387 Airport Drive LLC
29387 Airport LLC
Quit Claim Deed
—
Oct 10, 2013
$350,000
29387 Airport LLC
San Pasqual Properties
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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