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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Manufacturing properties
31801 Research Park Dr, Madison Heights, MI 48071-4630
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0101791
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1984
Total area
7,650 SF
Lot
0.57 ac (24,829 SF)
Zoning code
M-1 LT
APN
44-25-01-327-010
UPID
US43-0101791
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
-
H & K Thread Grinding Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$585k
Comparable Approach
Comparable
$668k
Blend (final)
Blend
$725k
Owner & transaction history
Mark J Bigelow · 1 yrs held
Mark J Bigelow
since 2024
Last sale
$725,000
6 recorded transactions
Zoning & alternative use
M-1 LT · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+110.0%
Auto repair, garage
$940,000
+63.1%
Office building
$895,000
+56.0%
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
$830,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$585,000
7%
$540,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$575,000
Current use
MEDICAL BUILDING
$1,210,000
Change: +110% · Conversion: Difficult
AUTO REPAIR, GARAGE
$940,000
Change: +63% · Conversion: Easy
OFFICE BUILDING
$895,000
Change: +56% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$710,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $725k (Mar 7 2023)
Last sale anchor
$725k
Mar 7 2023
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
$95 / 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
$9,411
Tax year 2023
Assessed value
$260,740
Assessed 2024
Previous assessed
$239,390
+8.9% YoY
Effective rate
3.61%
On assessed value
Total market value
$521,480
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1984
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
7,650 SF
Lot
0.57 ac (24,829 SF)
Zoning code
M-1 LT
APN
44-25-01-327-010
UPID
US43-0101791
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-1 LT · Madison Heights, MI
Zoning M-1 LT · permitted uses
M-1 LT · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$575,000
MEDICAL BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$940,000
OFFICE BUILDING
Est. value
$895,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$710,000
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1984
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
Mark J Bigelow
Individual
Free & Clear · 1 yrs held
Mailing address
31791 SHERMAN AVE, MADISON HEIGHTS, MI 48071-1428
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2024
—
Mark J Bigelow
Kathryn A Bigelow
Deed
related
—
Mar 7, 2023
$725,000
Mettle Properties LLC 31801 LLC
Lillian Enterprises LLC
Warranty Deed
$563,200 · Jpmorgan Chase Bank NA
Nov 9, 2007
—
Lillian Ents LLC
Karsama L E Living Trust
Warranty Deed
—
Nov 6, 2007
$255,000
Karsama Lillian E Living Trust
Holland,kenneth J
Warranty Deed
—
Nov 2, 2007
—
Karsama Lillian E Living Trust
Karsama L Living Trust
Quit Claim Deed
related
—
—
—
Karsama Lillian E Living Trust
—
Deed Of Trust
related
$255,000 · Kenneth J & Jeannette Holland
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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