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Property profile & analytics
OFF-MARKET
Estimated value
$2,450,000
Industrial properties
29401 Stephenson Hwy Madison Heights, MI 48071-2331
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1252153
Property summary
AI-generated overview
This exceptional 39,770-square-foot flex space in Oakland County offers immediate occupancy. The property, built in 1987, boasts a 12-foot clear ceiling height and is divisible to a minimum of 20,000 square feet. The entire 39,770 square feet is currently vacant and available for lease. The space features one 12x10 grade-level dock high door, providing convenient drive-in access. Power is robust, with 1000 amps at 480 volts, suitable for heavy power demands. The property is zoned M-1, offering versatility for various industrial uses. Ample parking is available, complemented by a recently renovated parking lot and freshly painted building exterior. The current floor plan is wide open, easily adaptable to suit diverse needs. The property also holds site plan approval for a self-storage development, presenting an additional investment opportunity. The lease rate is $6.00 per square foot, NNN. Don't miss this chance to secure this well-located, versatile industrial space.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1987
Total area
39,770 SF
Lot
1.89 ac (82,328 SF)
Zoning code
M-1 LT
APN
44-25-11-376-024
UPID
US43-1252153
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
-
International Engineering Engineer
-
Computing Express Electronics & Wireless Store
-
MuniDeals Roadshow Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.03M
Comparable Approach
Comparable
$2.77M
Blend (final)
Blend
$2.45M
Owner & transaction history
29401 Stephenson Hwy LLC · 4 yrs held
29401 Stephenson Hwy LLC
since 2022
Last sale
$2.0M
7 recorded transactions
Zoning & alternative use
M-1 LT · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.7M
+23.8%
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
$2,120,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,285,000
6.5%
$3,030,000
7%
$2,815,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,990,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,700,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$2.45M
Range $2.21M – $2.70M · ±10% · vs last sale $2.00M (Feb 22 2022)
Last sale anchor
$2.00M
Feb 22 2022
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
$62 / 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
$63,236
Tax year 2023
Assessed value
$1,082,100
Assessed 2024
Previous assessed
$995,840
+8.7% YoY
Effective rate
5.84%
On assessed value
Total market value
$2,164,200
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1987
Heating
YES
Cooling
YES
Stories
2
Units
1
Total area
39,770 SF
Lot
1.89 ac (82,328 SF)
Zoning code
M-1 LT
APN
44-25-11-376-024
UPID
US43-1252153
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-1 LT · Madison Heights, MI
Zoning M-1 LT · permitted uses
M-1 LT · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.7M
INDUSTRIAL (GENERAL) Current
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
1987
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
1.89 ac
Current owner
From public records · entity-resolved
29401 Stephenson Hwy LLC
Entity
Mailing address
1400 AXTELL DR, TROY, MI 48084-7003
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2022
$2,000,000
29401 Stephenson Hwy LLC
Madison Heights Storage Units LLC
Warranty Deed
$1,680,000 · Tri County Bank
Jan 29, 2021
—
Madison Heights Storage Units
29401 Stephenson Eat LLC
Warranty Deed
$1,010,000 · 29401 Stephenson Eat LLC
Nov 5, 2018
$1,500,000
29401 Stephenson Eat LLC
Mctevia & Associates-mars Hold
Warranty Deed
—
Oct 23, 2018
—
Mctevia & Associates-mars Hold
Mars Business Properties LLC
Quit Claim Deed
related
—
Aug 27, 2018
—
Mctevia & Associates-mars Hold
Mars Business Properties LLC
Quit Claim Deed
related
—
Apr 15, 2016
$1,750,000
Mars Business Properties LLC
Gonzalez Leasing LLC
Warranty Deed
$1,920,000 · Dfcu Financial
Oct 12, 1998
$2,280,000
Gonzalez Leasing LLC
Williams,robert L & Linda L
Grant Deed
—
Jun 12, 1998
—
Gonzalez Leasing LLC
—
Deed Of Trust
related
$2,970,000 · Comerica Bank
—
—
Gonzalez Leasing LLC
—
Loan Modification
related
$3,100,000 · Pnc Bk
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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