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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Medical Office Space
31470 Ecorse Rd, Romulus, MI 48174-1963
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4962176
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
6,812 SF
Lot
0.97 ac (42,253 SF)
Zoning code
C2-GEN
APN
80 012 99 0014 703
UPID
US43-4962176
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
$917k
Blend (final)
Blend
$915k
Owner & transaction history
Chickadee Properties LLC · 3 yrs held
Chickadee Properties LLC
since 2022
7 recorded transactions
Zoning & alternative use
C2-GEN · Romulus, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$830,000
+29.2%
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 Romulus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Romulus 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
$640,000
Current use
COMMERCIAL (GENERAL)
$830,000
Change: +29% · Conversion: Easy
OFFICE BUILDING
$600,000
Change: -7% · Conversion: Easy
RETAIL STORES
$560,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±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
$134 / 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
$42,185
Tax year 2023
Assessed value
$653,500
Assessed 2024
Previous assessed
$605,400
+7.9% YoY
Effective rate
6.46%
On assessed value
Total market value
$1,307,000
Applied tax rate
82,130.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
6,812 SF
Lot
0.97 ac (42,253 SF)
Zoning code
C2-GEN
APN
80 012 99 0014 703
UPID
US43-4962176
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C2-GEN · Romulus, MI
Zoning C2-GEN · permitted uses
C2-GEN · Romulus, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Romulus. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$830,000
OFFICE BUILDING
Est. value
$600,000
RETAIL STORES
Est. value
$560,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1998
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.97 ac
Current owner
From public records · entity-resolved
Chickadee Properties LLC
Entity
Mailing address
1041 GRAND AVE #114, SAINT PAUL, MN 55105-3002
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 7, 2022
—
Chickadee Properties LLC
Merit Acquistion II LLC
Deed
$1,335,250 · Key Community Bank
Jun 30, 2022
—
Chickadee Properties LLC
—
Deed
related
$844,750 · Key Community Bank
Dec 21, 2021
—
Merit Acquisitions LLC
31470 Ecorse LLC
Correction Deed
related
—
Jul 6, 2021
—
Rachit Jain
Merit Acquistions LLC
Quit Claim Deed
related
—
Jan 2, 2019
—
Merit Acquisitions LLC
31470 Ecorse LLC
Grant Deed
—
May 17, 2018
—
31470 Ecorse LLC
Albar Holdings LLC
Warranty Deed
—
Dec 12, 2011
—
Shulman Eats LLC
Monahan II LLC
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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