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Property profile & analytics
OFF-MARKET
Estimated value
$2,560,000
Strip malls
29620 Southfield Rd Southfield, MI 48076
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US43-1549876
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2017
Total area
22,968 SF
Lot
1.98 ac (86,205 SF)
Zoning code
RS
APN
76-24-12-302-001
UPID
US43-1549876
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
$3.19M
Blend (final)
Blend
$2.56M
Owner & transaction history
Butler Properties 2003 LLC · 9 yrs held
Butler Properties 2003 LLC
since 2016
3 recorded transactions
Zoning & alternative use
RS · Southfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Regional Shopping District (RS) is designed to provide for a large concentration of comparison shopping,office, and service needs for persons residing in a densely settled suburban area.
Zone name
Regional Shopping
General category
COMMERCIAL
Zone area
254.02 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$4.0M
+89.3%
Restaurant
$4.0M
+86.0%
Auto repair, garage
$2.8M
+31.7%
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 Southfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Southfield 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
NEIGHBORHOOD: SHOPPING CENTER
$2,140,000
Current use
COMMERCIAL (GENERAL)
$4,045,000
Change: +89% · Conversion: Easy
RESTAURANT
$3,975,000
Change: +86% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,815,000
Change: +32% · Conversion: Difficult
OFFICE BUILDING
$2,450,000
Change: +15% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,860,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$2.56M
Range $2.30M – $2.82M · ±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
$111 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$68,347
Tax year 2022
Assessed value
$1,566,940
Assessed 2022
Previous assessed
$1,566,940
+0.0% YoY
Effective rate
4.36%
On assessed value
Assessed land
$213,350
Assessed improvement
$1,353,590
Land market value
$426,700
Improvement market value
$2,707,180
Total market value
$3,133,880
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2017
Heating
FORCED AIR
Stories
1
Total area
22,968 SF
Lot
1.98 ac (86,205 SF)
Zoning code
RS
APN
76-24-12-302-001
UPID
US43-1549876
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
RS · Southfield, MIZoning RS · permitted uses
RS · Southfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Regional Shopping District (RS) is designed to provide for a large concentration of comparison shopping,office, and service needs for persons residing in a densely settled suburban area.
Zone name
Regional Shopping
General category
COMMERCIAL
Zone area
254.02 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$4.0M
RESTAURANT
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
OFFICE BUILDING
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
2017
Heating
FORCED AIR
Stories
1
Lot
1.98 ac
Current owner
From public records · entity-resolved
Butler Properties 2003 LLC
Entity
Mailing address
29610 SOUTHFIELD RD STE #100, SOUTHFIELD, MI 48076-2000
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Nov 15, 2016
—
Butler Properties 2003 LLC
Butler Properties III LLC
Quit Claim Deed
related
$2,000,000 · Bank Of Birmingham
May 4, 2006
—
Butler Properties-iii LLC
Butler Properties-2003 LLC
Quit Claim Deed
related
—
Sep 8, 2005
—
Butler Properties-iii LLC
Butler Properties-2003 LLC
Quit Claim 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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