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Property profile & analytics
OFF-MARKET
Estimated value
$1,100,000
Retail space
302 University Dr, Rochester, MI 48307-1980
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-5295773
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1901
Total area
5,635 SF
Lot
0.27 ac (11,761 SF)
Zoning code
BI
APN
68-15-10-479-008
UPID
US43-5295773
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
-
Rochester Wine Shop Specialty Food Shop Wine and Liquor Store
-
The Cheese Lady - Rochester Bakery Specialty Food Shop
-
Risk Investigations Law Firm Security Service
-
Home Health Care Choices Home Health Care Service
-
Kazak Building Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.10M
CAP Approach
CAP
$935k
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.10M
Owner & transaction history
The Old Book Shoppe LLC · 2 yrs held
The Old Book Shoppe LLC
since 2024
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
BI · Rochester, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+76.3%
Restaurant
$975,000
+2.6%
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 Rochester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester 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
$1,100,000
ML approach
$1,100,000
CAP Approach
CAP Return
Estimation
6%
$1,010,000
6.5%
$935,000
7%
$865,000
Alternative Use
Use
Estimation
RETAIL STORES
$950,000
Current use
COMMERCIAL (GENERAL)
$1,675,000
Change: +76% · Conversion: Easy
RESTAURANT
$975,000
Change: +3% · Conversion: Easy
MEDICAL BUILDING
$890,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.10M
Range $990k – $1.21M · ±10% · vs last sale $1.10M (May 9 2024)
Last sale anchor
$1.10M
May 9 2024
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
$195 / 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
$11,514
Tax year 2023
Assessed value
$399,820
Assessed 2024
Previous assessed
$372,020
+7.5% YoY
Effective rate
2.88%
On assessed value
Total market value
$799,640
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1901
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
5,635 SF
Lot
0.27 ac (11,761 SF)
Zoning code
BI
APN
68-15-10-479-008
UPID
US43-5295773
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Rochester, MI
Zoning BI · permitted uses
BI · Rochester, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rochester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$950,000
COMMERCIAL (GENERAL)
Est. value
$1.7M
RESTAURANT
Est. value
$975,000
MEDICAL BUILDING
Est. value
$890,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL 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
1901
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
The Old Book Shoppe LLC
Entity
Mailing address
302 W UNIVERSITY DR, ROCHESTER, MI 48307-1980
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2025
—
The Old Book Shoppe LLC
—
Deed
related
$500,000 · Honor Bank
May 9, 2024
$1,100,000
The Old Book Shoppe LLC
Andre J Nadjarian & Connie R Nadjar
Warranty Deed
$550,000 · Alliance Catholic Cu
Mar 25, 2013
—
Connie Nadjarian
Meisner,andrew E
Grant Deed
related
—
Dec 23, 2011
—
Andre Nadjarian
Victorian Manor INC
Quit Claim Deed
related
—
Aug 26, 2003
$1,000,000
Gina M Virgona-rewold
Victorian Manor INC
Grant Deed
$950,000 · Victorian Manor INC
—
—
Victorian Manor INC
—
Deed Of Trust
related
$75,000 · Michigan National Bank
—
—
Andre Nadjarian
—
Deed Of Trust
related
$175,000 · Citizens Community Federal
—
—
Victorian Manor INC
—
Deed Of Trust
related
$85,000 · National City Bank Michigan/il
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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