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Property profile & analytics
OFF-MARKET
Estimated value
$7,140,000
Hotels
31700 Smith Rd, Romulus, MI 48174-1976
Individually Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1403899
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2009
Total area
81,321 SF
Lot
1.67 ac (72,745 SF)
Zoning code
RC-REG
APN
80 037 99 0028 715
UPID
US43-1403899
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
$7.14M
Blend (final)
Blend
$7.14M
Owner & transaction history
Detroit Airport Hotel · 17 yrs held
Detroit Airport Hotel
since 2008
7 recorded transactions
Zoning & alternative use
RC-REG · Romulus, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$9.9M
+95.8%
Medical building
$7.7M
+51.5%
Office building
$7.1M
+41.2%
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
HOTEL/MOTEL
$5,055,000
Current use
COMMERCIAL (GENERAL)
$9,895,000
Change: +96% · Conversion: Difficult
MEDICAL BUILDING
$7,660,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$7,135,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$6,680,000
Change: +32% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,470,000
Change: +28% · Conversion: Difficult
RESTAURANT
$6,270,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$7.14M
Range $6.43M – $7.85M · ±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
$88 / 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
$159,795
Tax year 2023
Assessed value
$2,620,400
Assessed 2024
Previous assessed
$2,295,500
+14.2% YoY
Effective rate
6.10%
On assessed value
Total market value
$5,240,800
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2009
Heating
FORCED AIR
Stories
6
Total area
81,321 SF
Lot
1.67 ac (72,745 SF)
Zoning code
RC-REG
APN
80 037 99 0028 715
UPID
US43-1403899
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
RC-REG · Romulus, MI
Zoning RC-REG · permitted uses
RC-REG · 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
HOTEL/MOTEL Current
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$9.9M
MEDICAL BUILDING
Est. value
$7.7M
OFFICE BUILDING
Est. value
$7.1M
RETAIL STORES
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.5M
RESTAURANT
Est. value
$6.3M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
2009
Heating
FORCED AIR
Stories
6
Lot
1.67 ac
Current owner
From public records · entity-resolved
Detroit Airport Hotel
Individual
Mailing address
1661 AARON BRENNER DR STE #200, MEMPHIS, TN 38120-1466
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Aug 30, 2023
—
Detroit Airport Hotel LP II
—
Deed
related
$10,000 · Independent Bank
Sep 17, 2021
—
Detroit Airport Hotel Ltd Patnershi
—
Deed
related
$1,000 · Cvi Ww Loan Holdings 2 LLC
Nov 24, 2020
—
Naples Hospitality LP
—
Deed
related
$104,300,000 · Wells Fargo Bk 2017-el11 (ce)
Sep 14, 2017
—
Detroit Airport Hotel Limited Partn
—
Deed
related
—
Dec 22, 2008
—
Detroit Airport Hotel
Detroit Airport Hotel
Quit Claim Deed
—
Nov 7, 2008
—
Detroit Airport Hotel LP II
—
Trustees Deed
related
$9,000,000 · Regions Bank
—
—
Naples Hospitality LP
—
Loan Modification
related
$104,300,000 · Wells Fargo Bk 2017-el11 (ce)
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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