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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Flex space
31698 Groesbeck Hwy, Fraser, MI 48026-3909
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0743856
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1945
Total area
6,920 SF
Lot
1.83 ac (79,715 SF)
Zoning code
IR
APN
03-14-05-327-006
UPID
US43-0743856
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
-
BVKA Chimney Fix & Cleaning Services Inc. General Contractor Renovation Specialist
-
Antrev Recovery Auto Repair Shop
-
Mumbly's Off Road Inc Auto Parts Store
-
Universal Auto Recovery Inc Business Related
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$575k
Comparable Approach
Comparable
$447k
Blend (final)
Blend
$615k
Owner & transaction history
31698 Groesbeck LLC · 4 yrs held
31698 Groesbeck LLC
since 2022
Last sale
$775,000
4 recorded transactions
Zoning & alternative use
IR · Fraser, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$980,000
+160.9%
Medical building
$850,000
+126.0%
Retail stores
$720,000
+92.0%
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 Fraser submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fraser 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
$665,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$375,000
Current use
RESTAURANT
$980,000
Change: +161% · Conversion: Difficult
MEDICAL BUILDING
$850,000
Change: +126% · Conversion: Difficult
RETAIL STORES
$720,000
Change: +92% · Conversion: Moderate
COMMERCIAL (GENERAL)
$710,000
Change: +89% · Conversion: Difficult
OFFICE BUILDING
$655,000
Change: +74% · Conversion: Difficult
AUTO REPAIR, GARAGE
$595,000
Change: +58% · Conversion: Easy
WAREHOUSE, STORAGE
$465,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $775k (Jun 7 2022)
Last sale anchor
$775k
Jun 7 2022
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
$89 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$17,956
Tax year 2022
Assessed value
$298,000
Assessed 2023
Previous assessed
$269,900
+10.4% YoY
Effective rate
6.03%
On assessed value
Total market value
$596,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1945
Heating
FORCED AIR
Stories
1
Total area
6,920 SF
Lot
1.83 ac (79,715 SF)
Zoning code
IR
APN
03-14-05-327-006
UPID
US43-0743856
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
IR · Fraser, MI
Zoning IR · permitted uses
IR · Fraser, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fraser. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$375,000
RESTAURANT
Est. value
$980,000
MEDICAL BUILDING
Est. value
$850,000
RETAIL STORES
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$710,000
OFFICE BUILDING
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$595,000
WAREHOUSE, STORAGE
Est. value
$465,000
INDUSTRIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1945
Heating
FORCED AIR
Stories
1
Lot
1.83 ac
Current owner
From public records · entity-resolved
31698 Groesbeck LLC
Entity
Mailing address
22466 ALEXANDER ST, SAINT CLAIR SHORES, MI 48081-2045
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 7, 2022
$775,000
31698 Groesbeck LLC
Gabara LLC
Warranty Deed
$500,000 · Harry L Neely Living Trust
Sep 21, 2021
$545,000
Gabara LLC
David A Landy
Warranty Deed
$381,500 · Michigan Schools & Government Cu
Jun 5, 2018
—
David A Landy
—
Deed
related
$82,193 · Todd Wysocki
—
—
David A Landy
—
Deed Of Trust
related
$82,193 · Todd Wysocki
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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