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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Flex space
31125 Fraser Dr, Fraser, MI 48026-2570
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-0178967
Property summary
AI-generated overview
This 13,300-square-foot industrial property, located in Macomb County's Groesbeck Central submarket at 31125 Fraser Dr, is available for sale or lease. Built in 1966 and renovated in 2018, this M1-zoned building offers immediate occupancy. Features include 14' to 22' ceiling heights, one 14'x14' and one 12'x14' overhead door, five cranes (1-ton, 3-ton, 5-ton, 10-ton, and 20-ton), 240-volt/1000-amp power with 160 feet of buss duct, T-5 and metal halide lighting, gas unit and tube radiant heat, and upgraded office HVAC and roof. The 0.748-acre lot includes 30 parking spaces. The building comprises 11,800 square feet of shop space and 1,500 square feet of office space. Additional features include air lines, floor drains, and column spacing of 30' and 46'. A Net Net Net (NNN) lease is available, where the tenant is responsible for real estate taxes, building insurance, and exterior maintenance. Conveniently located near I-696 at 13 Mile and Groesbeck.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1966
Total area
13,300 SF
Lot
0.75 ac (32,670 SF)
Zoning code
IR
APN
03-14-06-476-030
UPID
US43-0178967
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
-
Michcigan Welding Spec Inc General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$636k
Blend (final)
Blend
$635k
Owner & transaction history
Hill Management Group LLC · 6 yrs held
Hill Management Group LLC
since 2019
3 recorded transactions
Zoning & alternative use
IR · Fraser, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$895,000
+24.1%
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 Fraser submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fraser 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
INDUSTRIAL (GENERAL)
$725,000
Current use
WAREHOUSE, STORAGE
$895,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$48 / 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
$17,436
Tax year 2022
Assessed value
$314,000
Assessed 2023
Previous assessed
$304,300
+3.2% YoY
Effective rate
5.55%
On assessed value
Total market value
$628,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
13,300 SF
Lot
0.75 ac (32,670 SF)
Zoning code
IR
APN
03-14-06-476-030
UPID
US43-0178967
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
IR · Fraser, MI
Zoning IR · permitted uses
IR · Fraser, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fraser. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$725,000
WAREHOUSE, STORAGE
Est. value
$895,000
INDUSTRIAL (GENERAL) Current
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
1966
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Hill Management Group LLC
Entity
Mailing address
33950 RIVIERA, FRASER, MI 48026-1627
Ownership since
2019
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
Jul 24, 2019
$695,000
Hill Management Group LLC
Severino J Camillo
Warranty Deed
$278,000 · Flagstar Bank Fsb
Apr 12, 2018
$250,000
Severino J Ciamillo
August F Pitonyak LLC
Warranty Deed
—
Nov 13, 2014
—
Ciamillo,severino J|august F Pitonyak LLC
August F Pitonyak LLC
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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