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Property profile & analytics
OFF-MARKET
Estimated value
$11,910,000
Warehouses
32500 Van Born Rd, Wayne, MI 48184-2569
Entity Owned
8-yr Hold
Free & Clear
Property ID
US43-1264912
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1965
Total area
474,377 SF
Lot
34.54 ac (1,504,562 SF)
Zoning code
IND-B IND BUS
APN
55 023 99 0004 000
UPID
US43-1264912
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
$11.91M
Blend (final)
Blend
$11.91M
Owner & transaction history
Wooshin Properties LLC · 8 yrs held
Wooshin Properties LLC
since 2017
7 recorded transactions
Zoning & alternative use
IND-B IND BUS · Wayne, 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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
WAREHOUSE, STORAGE
$19,360,000
Current use
Blend value · Realmo final
$11.91M
Range $10.72M – $13.10M · ±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
$25 / 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
$281,648
Tax year 2023
Assessed value
$4,321,500
Assessed 2024
Previous assessed
$4,189,300
+3.2% YoY
Effective rate
6.52%
On assessed value
Total market value
$8,643,000
Applied tax rate
82,160.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1965
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
474,377 SF
Lot
34.54 ac (1,504,562 SF)
Zoning code
IND-B IND BUS
APN
55 023 99 0004 000
UPID
US43-1264912
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
IND-B IND BUS · Wayne, MI
Zoning IND-B IND BUS · permitted uses
IND-B IND BUS · Wayne, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$19.4M
WAREHOUSE, STORAGE 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
1965
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
34.54 ac
Current owner
From public records · entity-resolved
Wooshin Properties LLC
Entity
Free & Clear · 8 yrs held
Mailing address
32500 VAN BORN RD STE #500, WAYNE, MI 48184-2574
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2017
—
Wooshin Properties LLC
Holdings Wayne Van Born LLC
Grant Deed
—
Jan 14, 2016
—
Holdings Wayne Van Born LLC
Metro Commerce Center LLC
Deed
—
Dec 3, 2009
—
Metro Commerce Center LLC
—
Deed Of Trust
related
$4,650,000 · Wells Fargo Bank
Sep 7, 2005
—
Metro Commerce Center LLC
32500 Van Born Associates
Grant Deed
$4,650,000 · Wells Fargo Bk/tx
—
—
Metro Commerce Center LLC
—
Loan Modification
related
$4,615,413 · Wells Fargo Bk
—
—
Metro Commerce Center LLC
—
Loan Modification
related
$4,615,413 · Wells Fargo Bk
—
—
Metro Commerce Center LLC
—
Deed Of Trust
related
$4,615,413 · Wells Fargo Bank
—
—
Metro Commerce Center LLC
—
Deed Of Trust
related
$4,650,000 · Wells Fargo Bank
—
—
Metro Commerce Center LLC
—
Deed Of Trust
related
$4,650,000 · Wells Fargo 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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