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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Medical Office Space
32500 23rd Mile Rd Chesterfield, MI 48047-1991
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0559332
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1959
Construction
BRICK
Total area
4,292 SF
Lot
0.65 ac (28,401 SF)
Zoning code
O1 PRO
APN
15-09-22-201-009
UPID
US43-0559332
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
-
Michigan Spine & Joint Center PC Alternative Medicine Practice
-
Adebowale O. Adegbenro, DC Alternative Medicine Practice
-
Dr. Erica Selby- Cook Alternative Medicine Practice
-
Adebowale Olugbenga Adegbenro Alternative Medicine Practice
-
Dr. Thomas Neuner Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$690k
Comparable Approach
Comparable
$506k
Blend (final)
Blend
$505k
Owner & transaction history
King And Crown Properties LLC · 4 yrs held
King And Crown Properties LLC
since 2022
Last sale
$500,000
6 recorded transactions
Zoning & alternative use
O1 PRO · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$800,000
+51.4%
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
$500,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$750,000
6.5%
$690,000
7%
$645,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$525,000
Current use
RETAIL STORES
$800,000
Change: +51% · Conversion: Difficult
COMMERCIAL (GENERAL)
$440,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $500k (Jun 22 2022)
Last sale anchor
$500k
Jun 22 2022
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
$118 / 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
$10,842
Tax year 2022
Assessed value
$231,300
Assessed 2023
Previous assessed
$219,800
+5.2% YoY
Effective rate
4.69%
On assessed value
Total market value
$462,600
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1959
Construction
BRICK
Heating
FORCED AIR
Stories
1
Rooms
8
Bathrooms
1
Total area
4,292 SF
Lot
0.65 ac (28,401 SF)
Zoning code
O1 PRO
APN
15-09-22-201-009
UPID
US43-0559332
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
O1 PRO · Chesterfield, MIZoning O1 PRO · permitted uses
O1 PRO · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$525,000
RETAIL STORES
Est. value
$800,000
COMMERCIAL (GENERAL)
Est. value
$440,000
MEDICAL BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
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
1959
Construction
BRICK
Heating
FORCED AIR
Stories
1
Rooms
8
Bathrooms
1
Lot
0.65 ac
Current owner
From public records · entity-resolved
King And Crown Properties LLC
Entity
Mailing address
16108 KINGSWAY DR, MACOMB, MI 48044-1137
Ownership since
2022
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
Jun 22, 2022
$500,000
King And Crown Properties LLC
Neuner Holdings LLC
Warranty Deed
$409,000 · Pnc Bank NA
Jun 22, 2022
—
Pnc Bank National Association
King And Crown Properties LLC
Assignment Of Lease (leasehold Sale)
related
—
May 31, 2007
—
Neuner Holdings LLC
Neuner,thomas J & Laura L
Quit Claim Deed
related
$581,600 · Key Bank NA
Sep 29, 2005
—
Thomas J Neuner
—
Trustees Deed
related
$550,000 · Citizens State Bank
—
—
Neuner Holdings LLC
—
Deed Of Trust
related
—
—
—
Neuner Holdings LLC
—
Deed Of Trust
related
$489,969 · Pnc Bank
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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