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Property profile & analytics
FOR SALE
Banks
32500 Woodward Ave Royal Oak, MI 48073
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-1515694
For Sale
1 / 17
$3,300,000
32500 Woodward Ave, Royal Oak, MI 48073
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1947
Total area
5,889 SF
Lot
0.29 ac (12,502 SF)
Zoning code
GEN BUS
APN
72-25-06-129-005
UPID
US43-1515694
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
-
Citizens State Bank Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$863k
Blend (final)
Blend
$865k
Owner & transaction history
Citizens State Bank Of Ontonagon · 5 yrs held
Citizens State Bank Of Ontonagon
since 2021
3 recorded transactions
Zoning & alternative use
GEN BUS · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+77.7%
Retail stores
$805,000
+30.8%
Restaurant
$805,000
+30.2%
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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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
FINANCIAL BUILDING
$615,000
Current use
COMMERCIAL (GENERAL)
$1,095,000
Change: +78% · Conversion: Difficult
RETAIL STORES
$805,000
Change: +31% · Conversion: Difficult
RESTAURANT
$805,000
Change: +30% · Conversion: Difficult
MEDICAL BUILDING
$590,000
Change: -5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$550,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±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
$147 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$19,266
Tax year 2021
Assessed value
$1,032,450
Assessed 2024
Previous assessed
$330,980
+211.9% YoY
Effective rate
1.87%
On assessed value
Total market value
$2,064,900
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
Banks
Use group
FINANCIAL BUILDING
Status
For Sale
Year built
1947
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
5,889 SF
Lot
0.29 ac (12,502 SF)
Zoning code
GEN BUS
APN
72-25-06-129-005
UPID
US43-1515694
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
GEN BUS · Royal Oak, MI
Zoning GEN BUS · permitted uses
GEN BUS · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$615,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$805,000
RESTAURANT
Est. value
$805,000
MEDICAL BUILDING
Est. value
$590,000
AUTO REPAIR, GARAGE
Est. value
$550,000
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1947
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Citizens State Bank Of Ontonagon
Entity
Free & Clear · 5 yrs held
Mailing address
32500 WOODWARD AVE, ROYAL OAK, MI 48073-0949
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2021
—
Citizens State Bank Of Ontonagon
Mark Maskill
Warranty Deed
—
Jan 25, 2021
—
Mark Maskill
4400 North Woodward LLC
Quit Claim Deed
related
—
Jan 9, 2015
—
4400 North Woodward LLC
Maskill A N Trust
Grant Deed
—
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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