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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Assisted living facilities
309 Bailey St, Romeo, MI 48065-5207
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-1046435
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1950
Total area
6,786 SF
Lot
0.88 ac (38,115 SF)
Zoning code
VILLAGE
APN
28-04-02-136-013
UPID
US43-1046435
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
by Request
Blend (final)
Blend
$550k
Owner & transaction history
Statewide Bailey LLC · 3 yrs held
Statewide Bailey LLC
since 2022
Last sale
$550,000
4 recorded transactions
Zoning & alternative use
VILLAGE · Romeo, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Romeo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Romeo 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
$550,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$835,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$710,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$700,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$645,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$585,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$460,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $550k (Aug 4 2022)
Last sale anchor
$550k
Aug 4 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
$81 / 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
$7,083
Tax year 2023
Assessed value
$162,300
Assessed 2024
Previous assessed
$162,300
+0.0% YoY
Effective rate
4.36%
On assessed value
Total market value
$324,600
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1950
Heating
FORCED AIR
Stories
1
Total area
6,786 SF
Lot
0.88 ac (38,115 SF)
Zoning code
VILLAGE
APN
28-04-02-136-013
UPID
US43-1046435
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
VILLAGE · Romeo, MI
Zoning VILLAGE · permitted uses
VILLAGE · Romeo, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Romeo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$835,000
RETAIL STORES
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$700,000
OFFICE BUILDING
Est. value
$645,000
AUTO REPAIR, GARAGE
Est. value
$585,000
WAREHOUSE, STORAGE
Est. value
$460,000
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1950
Heating
FORCED AIR
Stories
1
Lot
0.88 ac
Current owner
From public records · entity-resolved
Statewide Bailey LLC
Entity
Free & Clear · 3 yrs held
Mailing address
48991 JEFFERSON AVE, CHESTERFIELD, MI 48047-3431
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2022
$550,000
Statewide Bailey LLC
The Bgs Group LLC
Warranty Deed
—
Jun 7, 2016
—
The Hgs Group LLC
Buddy Smith
Warranty Deed
—
Dec 23, 2015
$110,000
Buddy Smith
Hicks Marilyn E
Grant Deed
—
Dec 23, 2015
—
Marilyn E Hicks
Romeo Continuing Care INC
Quit Claim Deed
related
—
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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