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Property profile & analytics
FOR LEASE
Strip malls
31260 Michigan Ave Westland, MI 48186
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-0098302
For Lease
1 / 13
$16 SF/Yr
31260 Michigan Ave, Westland, MI 48186
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Total area
37,510 SF
Lot
0.86 ac (37,462 SF)
APN
56 072 99 0003 711
UPID
US43-0098302
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
$2.17M
Blend (final)
Blend
$1.49M
Owner & transaction history
Hbc Gr1 1 LLC
Hbc Gr1 1 LLC
since 2026
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
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 Westland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westland 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
$1,485,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.49M
Range $1.34M – $1.63M · ±10% · vs last sale $1.48M (Feb 9 2021)
Last sale anchor
$1.48M
Feb 9 2021
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
$40 / 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
$52,021
Tax year 2023
Assessed value
$935,600
Assessed 2024
Previous assessed
$841,200
+11.2% YoY
Effective rate
5.56%
On assessed value
Total market value
$1,871,200
Applied tax rate
82,160.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1999
Heating
FORCED AIR
Stories
1
Total area
37,510 SF
Lot
0.86 ac (37,462 SF)
APN
56 072 99 0003 711
UPID
US43-0098302
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1999
Heating
FORCED AIR
Stories
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Hbc Gr1 1 LLC
Entity
Free & Clear · 0 yrs held
Mailing address
9528 LARAMIE AVE, BAKERSFIELD, CA 93314-9316
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Mar 5, 2026
—
Hbc Gr1 1 LLC
Royal Michigahireal Estate LLC
Warranty Deed
—
Feb 9, 2021
$1,475,250
Royal Michigan Real Estate LLC
Westland Michigan Ave LLC
Deed
$1,032,675 · Stronghill Captial LLC
Dec 16, 2015
—
Westland Michigan Ave LLC
Wbcmt 2004-c10 Retail 31260 Ll
Grant Deed
—
Jul 7, 2014
$2,802,708
Wbcmt 2004-c10 Retail 31260 Ll
Deputy Sheriff Of Wayne County
Trustees Deed
related
—
Sep 21, 2004
$500,000
Rand Properties LLC
Topvalco INC
Grant Deed
$3,450,000 · Wachovia Bank NA
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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