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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Warehouses
31401 John R Rd, Madison Heights, MI 48071-4653
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1366755
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1981
Total area
12,300 SF
Lot
0.89 ac (38,768 SF)
Zoning code
B-1 LOC
APN
44-25-02-477-018
UPID
US43-1366755
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
-
Rage Room Arcade & Gaming Center Family Recreation Center
-
Escape Room Zone Arcade & Gaming Center
-
Azra Dance Party and Club Training Center
-
Gellyball Madison Heights Sports Field & Court Arcade & Gaming Center
-
Azra Haunted House Chamber of Horrors Haunted House Amusement Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.19M
Owner & transaction history
Gazcorp 2 LLC · 7 yrs held
Gazcorp 2 LLC
since 2019
2 recorded transactions
Zoning & alternative use
B-1 LOC · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.9M
+93.6%
Auto repair, garage
$1.5M
+50.3%
Office building
$1.4M
+43.8%
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
WAREHOUSE, STORAGE
$1,005,000
Current use
MEDICAL BUILDING
$1,940,000
Change: +94% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,510,000
Change: +50% · Conversion: Easy
OFFICE BUILDING
$1,445,000
Change: +44% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,145,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±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
$97 / 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
$27,305
Tax year 2023
Assessed value
$541,560
Assessed 2024
Previous assessed
$504,560
+7.3% YoY
Effective rate
5.04%
On assessed value
Total market value
$1,083,120
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1981
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Units
1
Total area
12,300 SF
Lot
0.89 ac (38,768 SF)
Zoning code
B-1 LOC
APN
44-25-02-477-018
UPID
US43-1366755
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-1 LOC · Madison Heights, MI
Zoning B-1 LOC · permitted uses
B-1 LOC · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1981
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Gazcorp 2 LLC
Entity
Free & Clear · 7 yrs held
Mailing address
31530 GRAND RIV AVE, FARMINGTON, MI 48336-4232
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 12, 2019
$675,000
Gazcorp 2 LLC
Pecci-madison Heights LLC
Warranty Deed
—
May 4, 2006
—
Pecci-madison Heights LLC
Pecci,josephine
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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