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Property profile & analytics
OFF-MARKET
Estimated value
$2,815,000
Hotels
31800 Wick Rd, Romulus, MI 48174-1925
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US43-0887945
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1986
Total area
61,455 SF
Lot
3.81 ac (165,964 SF)
Zoning code
RC-REG
APN
80 040 99 0011 705
UPID
US43-0887945
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
$2.81M
Blend (final)
Blend
$2.82M
Owner & transaction history
Abk Hospitality LLC · 13 yrs held
Abk Hospitality LLC
since 2012
7 recorded transactions
Zoning & alternative use
RC-REG · Romulus, 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 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
$3,820,000
Current use
Blend value · Realmo final
$2.82M
Range $2.53M – $3.10M · ±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
$46 / 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
$63,420
Tax year 2023
Assessed value
$1,032,000
Assessed 2024
Previous assessed
$910,100
+13.4% YoY
Effective rate
6.15%
On assessed value
Total market value
$2,064,000
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
1986
Heating
FORCED AIR
Stories
3
Total area
61,455 SF
Lot
3.81 ac (165,964 SF)
Zoning code
RC-REG
APN
80 040 99 0011 705
UPID
US43-0887945
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
$3.8M
HOTEL/MOTEL Current
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
1986
Heating
FORCED AIR
Stories
3
Lot
3.81 ac
Current owner
From public records · entity-resolved
Abk Hospitality LLC
Entity
Mailing address
31800 WICK RD, ROMULUS, MI 48174-1925
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2022
—
Abk Hospitality LLC
—
Deed
related
$7,650,000 · Dort Financial Cu
Oct 22, 2018
—
Abk Hospitality LLC
—
Grant Deed
related
$6,405,000 · Bank Of Ann Arbor
Oct 24, 2016
—
Abk Hospitality LLC
—
Deed
related
$5,432,000 · Bank Of Ann Arbor
Dec 13, 2012
$1,575,000
Abk Hospitality LLC
Future Lodging-airport INC
Warranty Deed
—
Nov 14, 2012
—
31800 Wick Road Holdings LLC
Sheriff Of Wayne County
Grant Deed
—
Jul 24, 2012
$1,600,000
31800 Wick Road Holdings LLC
Deputy Sheriff Of Wayne County
Trustees Deed
related
—
—
—
Abk Hospitality LLC
—
Loan Modification
related
$1,100,000 · Bank Of Ann Arbor
—
—
Abk Hospitality LLC
—
Deed Of Trust
related
$1,653,000 · Bank Of Ann Arbor
—
—
Abk Hospitality LLC
—
Loan Modification
related
$2,570,000 · Bank Of Ann Arbor
—
—
Abk Hospitality LLC
—
Deed Of Trust
related
$800,000 · Bank Of Ann Arbor
—
—
Abk Hospitality LLC
—
Loan Modification
related
$5,432,000 · Bank Of Ann Arbor
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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