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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
31 Elmwood, Leonard, MI 48367-1803
Entity Owned
19-yr Hold
Free & Clear
Property ID
US43-5252763
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1895
Total area
2,284 SF
Lot
0.14 ac (6,098 SF)
Zoning code
SELECTCODE
APN
AL-05-11-152-009
UPID
US43-5252763
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
by Request
Owner & transaction history
Addison Real Estate LLC · 19 yrs held
Addison Real Estate LLC
since 2006
3 recorded transactions
Zoning & alternative use
SELECTCODE · Leonard, 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 Leonard submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Leonard 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,050
Tax year 2023
Assessed value
$69,640
Assessed 2024
Previous assessed
$67,150
+3.7% YoY
Effective rate
4.38%
On assessed value
Total market value
$139,280
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1895
Heating
FORCED AIR
Buildings
2
Stories
2
Units
1
Total area
2,284 SF
Lot
0.14 ac (6,098 SF)
Zoning code
SELECTCODE
APN
AL-05-11-152-009
UPID
US43-5252763
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
SELECTCODE · Leonard, MI
Zoning SELECTCODE · permitted uses
SELECTCODE · Leonard, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Leonard. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1895
Heating
FORCED AIR
Stories
2
Buildings
2
Units
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Addison Real Estate LLC
Entity
Free & Clear · 19 yrs held
Mailing address
PO BOX 86, LAKEVILLE, MI 48366-0086
Ownership since
2006
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 14, 2006
$100,000
Addison Real Estate LLC
Cantley LLC
Warranty Deed
—
Nov 14, 2006
$156,815
Cantley LLC
Addison Real Estate LLC
Warranty Deed
—
Sep 27, 2006
$68,085
Cantley LLC
Cox,stewart A JR & Brenda A
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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