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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Commercial land
31770 23rd Mile Rd Chesterfield, MI 48047-1877
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-1038943
Property summary
AI-generated overview
This exceptional 10-acre property located at 31770 Twenty Three Mile Road in New Baltimore, Michigan, presents a remarkable opportunity for residential development. Boasting 300 feet of frontage, this parcel is zoned O-5, offering flexibility for various residential projects. The land's strategic location provides convenient access to I-94, enhancing its appeal and accessibility. The asking price is $575,000, translating to a land value of $1.32 per square foot. The property's expansive size and prime location make it ideal for a variety of residential developments. The parcel's APN is 15-09-22-126-014. The seller is open to exploring land contract terms and potential joint venture possibilities, making this an attractive investment opportunity. This significantly reduced price makes this a compelling proposition for discerning buyers seeking a substantial land holding in a desirable Michigan location. The property is situated in Macomb County, with a zip code of 48047. Its coordinates are 42.673232 latitude and -82.789266 longitude.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Total area
3,456 SF
Lot
4.68 ac (203,861 SF)
Zoning code
C1 LOC
APN
15-09-22-126-014
UPID
US43-1038943
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
$630k
Comparable Approach
Comparable
$423k
Blend (final)
Blend
$520k
Owner & transaction history
A & D Realty Investments LLC · 6 yrs held
A & D Realty Investments LLC
since 2020
Last sale
$525,000
5 recorded transactions
Zoning & alternative use
C1 LOC · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$645,000
+80.9%
Medical building
$425,000
+19.5%
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 Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterfield 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
$580,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$685,000
6.5%
$630,000
7%
$585,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$355,000
Current use
RETAIL STORES
$645,000
Change: +81% · Conversion: Easy
MEDICAL BUILDING
$425,000
Change: +19% · Conversion: Easy
OFFICE BUILDING
$330,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $525k (Apr 28 2020)
Last sale anchor
$525k
Apr 28 2020
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
$150 / 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
$9,138
Tax year 2022
Assessed value
$159,000
Assessed 2023
Previous assessed
$159,000
+0.0% YoY
Effective rate
5.75%
On assessed value
Total market value
$318,000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
FORCED AIR
Stories
1
Bathrooms
2
Total area
3,456 SF
Lot
4.68 ac (203,861 SF)
Zoning code
C1 LOC
APN
15-09-22-126-014
UPID
US43-1038943
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C1 LOC · Chesterfield, MI
Zoning C1 LOC · permitted uses
C1 LOC · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$355,000
RETAIL STORES
Est. value
$645,000
MEDICAL BUILDING
Est. value
$425,000
OFFICE BUILDING
Est. value
$330,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
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
Heating
FORCED AIR
Stories
1
Bathrooms
2
Lot
4.68 ac
Current owner
From public records · entity-resolved
A & D Realty Investments LLC
Entity
Mailing address
26050 ORCH LK RD STE #300, FARMINGTON HILLS, MI 48334-4419
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2020
$525,000
A & D Realty Investments LLC
Ngp Partners LLC
Deed In Lieu Of Foreclosure
related
—
—
—
Ngp Partners LLC
—
Deed Of Trust
related
$420,000 · Oakland Commerce Bank
—
—
Ngp Partners LLC
—
Deed Of Trust
related
$113,120 · Oakland Commerce Bank
—
—
Ngp Partners LLC
—
Deed Of Trust
related
$250,000 · Citizens Federal Bank Fsb
—
—
Ngp Partners LLC
—
Deed Of Trust
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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