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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Individual retail properties
31501 Schoolcraft Rd Livonia, MI 48150-1822
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-0352211
Property profile
Verified
Property type
Individual retail properties
Use group
BARBER, HAIR SALON
Year built
1983
Construction
FRAME
Total area
7,160 SF
Lot
2.37 ac (103,237 SF)
Zoning code
C-3
APN
46 105 99 0029 003
UPID
US43-0352211
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
-
L'esprit Academy Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$521k
Blend (final)
Blend
$520k
Owner & transaction history
Schoolcraft Lodge INC · 7 yrs held
Schoolcraft Lodge INC
since 2018
4 recorded transactions
Zoning & alternative use
C-3 · Livonia, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$740,000
+48.9%
Commercial (general)
$730,000
+46.9%
Medical building
$675,000
+35.4%
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 Livonia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Livonia 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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$500,000
Current use
RESTAURANT
$740,000
Change: +49% · Conversion: Difficult
COMMERCIAL (GENERAL)
$730,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$675,000
Change: +35% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$580,000
Change: +17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Change: +14% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$73 / 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
$12,148
Tax year 2023
Assessed value
$206,500
Assessed 2024
Previous assessed
$206,500
+0.0% YoY
Effective rate
5.88%
On assessed value
Total market value
$413,000
Applied tax rate
82,095.0000
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
Individual retail properties
Use group
BARBER, HAIR SALON
Status
Off-Market
Year built
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Rooms
11
Bathrooms
3
Total area
7,160 SF
Lot
2.37 ac (103,237 SF)
Zoning code
C-3
APN
46 105 99 0029 003
UPID
US43-0352211
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-3 · Livonia, MI
Zoning C-3 · permitted uses
C-3 · Livonia, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Livonia. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$500,000
RESTAURANT
Est. value
$740,000
COMMERCIAL (GENERAL)
Est. value
$730,000
MEDICAL BUILDING
Est. value
$675,000
INDUSTRIAL (GENERAL)
Est. value
$580,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$570,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1983
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Rooms
11
Bathrooms
3
Lot
2.37 ac
Current owner
From public records · entity-resolved
Schoolcraft Lodge INC
Entity
Free & Clear · 7 yrs held
Mailing address
31501 SCHOOLCRAFT RD, LIVONIA, MI 48150-1822
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2018
$1,100,000
Schoolcraft Lodge INC
P & S Wells LLC
Warranty Deed
—
May 6, 2009
—
P & S Wells LLC
Wells,peter F & Sally A
Quit Claim Deed
related
$920,000 · Fifth Third Bank
May 6, 2009
$985,000
Peter F Wells
Gl Ziegler Investments LLC
Warranty Deed
—
—
—
Schoolcraft Lodge INC
—
Deed Of Trust
related
$550,000 · Genisys Cu
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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