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Property profile & analytics
FOR SALE
Retail space
31799 Middlebelt Rd, Farmington Hills, MI 48334
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0286163
For Sale
1 / 26
$595,000
31799 Middlebelt Rd, Farmington Hills, MI 48334
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1967
Total area
1,764 SF
Lot
0.2 ac (8,712 SF)
Zoning code
BI
APN
22-23-02-426-005
UPID
US43-0286163
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Jung Rae Park LLC · 24 yrs held
Jung Rae Park LLC
since 2002
5 recorded transactions
Zoning & alternative use
BI · Farmington Hills, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Farmington Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington Hills 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,004
Tax year 2023
Assessed value
$108,560
Assessed 2024
Previous assessed
$95,530
+13.6% YoY
Effective rate
4.61%
On assessed value
Assessed land
$34,850
Assessed improvement
$73,710
Land market value
$69,700
Improvement market value
$147,420
Total market value
$217,120
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1967
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
1,764 SF
Lot
0.2 ac (8,712 SF)
Zoning code
BI
APN
22-23-02-426-005
UPID
US43-0286163
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Farmington Hills, MI
Zoning BI · permitted uses
BI · Farmington Hills, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington Hills. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1967
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Jung Rae Park LLC
Entity
Mailing address
22532 PEPPERMILL CT, NOVI, MI 48375-4349
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
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
May 9, 2002
—
Jung Rae Park LLC
Park,jung R & Soonja J
Quit Claim Deed
related
—
Feb 7, 2001
$410,000
Jung R Park
Anderson-middlebelt Associates
Grant Deed
$310,000 · Franklin Bank
Jun 10, 1999
—
Anderson Middlebelt Assoc LLC
Anderson,ronald D & Nancy A
Quit Claim Deed
related
—
—
—
Jung Rae Park LLC
—
Deed Of Trust
related
$325,000 · National City Bank Michigan/il
—
—
Ronald D Anderson
—
Deed Of Trust
related
$184,000 · Metrobank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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