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Property profile & analytics
OFF-MARKET
Estimated value
$3,485,000
Office buildings
2959 Martin Luther King Jr Blvd Detroit, MI 48208-2475
Individually Owned
1-yr Hold
Free & Clear
Property ID
US43-1511687
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Total area
56,627 SF
Lot
4.22 ac (183,823 SF)
Zoning code
PD
APN
12006472-80
UPID
US43-1511687
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
-
Covenant House Michigan Charitable Organization Social Service Agency
-
Youth Vision Solutions High School
-
Anne M. Hauser NP Physician
-
Covenant High School Central High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.49M
Blend (final)
Blend
$3.49M
Owner & transaction history
Allen H Vigneron · 1 yrs held
Allen H Vigneron
since 2025
1 recorded transaction
Zoning & alternative use
PD · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.2M
+48.1%
Restaurant
$5.2M
+48.0%
Neighborhood: shopping center
$4.3M
+22.9%
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
OFFICE BUILDING
$3,490,000
Current use
COMMERCIAL (GENERAL)
$5,170,000
Change: +48% · Conversion: Easy
RESTAURANT
$5,165,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,290,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$3,910,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$3,570,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,430,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$3.49M
Range $3.14M – $3.83M · ±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
$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 2020Property tax & assessments
Tax year 2020
Tax billed
$100
Tax year 2020
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
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
1974
Heating
FORCED AIR
Buildings
11
Stories
1
Total area
56,627 SF
Lot
4.22 ac (183,823 SF)
Zoning code
PD
APN
12006472-80
UPID
US43-1511687
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
PD · Detroit, MI
Zoning PD · permitted uses
PD · 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
OFFICE BUILDING Current
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$5.2M
RESTAURANT
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.3M
RETAIL STORES
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$3.6M
AUTO REPAIR, GARAGE
Est. value
$3.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
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
1974
Heating
FORCED AIR
Stories
1
Buildings
11
Lot
4.22 ac
Current owner
From public records · entity-resolved
Allen H Vigneron
Individual
Free & Clear · 1 yrs held
Mailing address
2959 MARTIN LUTHER KING JR BLVD, DETROIT, MI 48208-2475
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 4, 2025
—
Allen H Vigneron
Kundig Center
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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