New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,675,000
Medical Office Space
31157 Woodward Ave, Royal Oak, MI 48073-0996
Individually Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0061305
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1961
Total area
24,035 SF
Lot
1.96 ac (85,247 SF)
Zoning code
GEN BUS
APN
72-25-06-455-005
UPID
US43-0061305
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
-
Kenneth Peters, MD Physician Medical Clinic
-
Philip Shalhoub Physician Medical Clinic
-
Dr. Patrick Hurley Physician Medical Clinic
-
David Kearney Physician Medical Clinic
-
Danielle Shaholli Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.49M
Blend (final)
Blend
$4.68M
Owner & transaction history
William Beaumont Hospital · 7 yrs held
William Beaumont Hospital
since 2018
5 recorded transactions
Zoning & alternative use
GEN BUS · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.7M
+24.5%
Restaurant
$4.2M
+9.7%
Retail stores
$4.1M
+6.9%
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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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
MEDICAL BUILDING
$3,795,000
Current use
COMMERCIAL (GENERAL)
$4,725,000
Change: +24% · Conversion: Easy
RESTAURANT
$4,160,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$4,055,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$4.68M
Range $4.21M – $5.14M · ±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
$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
$232,787
Tax year 2023
Assessed value
$4,930,050
Assessed 2024
Previous assessed
$2,746,550
+79.5% YoY
Effective rate
4.72%
On assessed value
Total market value
$9,860,100
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Stories
1
Total area
24,035 SF
Lot
1.96 ac (85,247 SF)
Zoning code
GEN BUS
APN
72-25-06-455-005
UPID
US43-0061305
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
GEN BUS · Royal Oak, MI
Zoning GEN BUS · permitted uses
GEN BUS · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$4.7M
RESTAURANT
Est. value
$4.2M
RETAIL STORES
Est. value
$4.1M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1961
Heating
FORCED AIR
Stories
1
Lot
1.96 ac
Current owner
From public records · entity-resolved
William Beaumont Hospital
Individual
Free & Clear · 7 yrs held
Mailing address
26901 BEAUMONT BLVD, SOUTHFIELD, MI 48033-3849
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2018
—
William Beaumont Hospital
Drev LLC
Warranty Deed
—
May 10, 2006
—
Drev LLC
—
Deed Of Trust
related
$5,200,000 · Private Bank
Feb 2, 2006
—
Package Co LLC
Grenadier,charles & Arnena
Warranty Deed
—
Jan 11, 2006
$4,350,000
Drev LLC
Package Co LLC
Warranty Deed
$4,700,000 · Comerica Bank
—
—
Drev LLC
—
Deed Of Trust
related
$1,900,000 · Private Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 31157 Woodward Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
