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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Medical Office Space
32609 Woodward Ave, Royal Oak, MI 48073-0952
Entity Owned
18-yr Hold
Free & Clear
Property ID
US43-3534140
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1949
Total area
2,659 SF
Lot
0.25 ac (11,021 SF)
Zoning code
GEN BUS
APN
72-25-06-105-041
UPID
US43-3534140
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
-
Hartrick Dentistry Dental Office
-
Nancy Hartrick Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$607k
Blend (final)
Blend
$515k
Owner & transaction history
Nancy Hartrick LLC · 18 yrs held
Nancy Hartrick LLC
since 2007
2 recorded transactions
Zoning & alternative use
GEN BUS · Royal Oak, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$525,000
+24.5%
Retail stores
$450,000
+6.9%
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
MEDICAL BUILDING
$420,000
Current use
COMMERCIAL (GENERAL)
$525,000
Change: +24% · Conversion: Easy
RETAIL STORES
$450,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$194 / 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
$15,103
Tax year 2021
Assessed value
$382,280
Assessed 2024
Previous assessed
$268,960
+42.1% YoY
Effective rate
3.95%
On assessed value
Total market value
$764,560
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
DENTAL BUILDING
Status
Off-Market
Year built
1949
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
2,659 SF
Lot
0.25 ac (11,021 SF)
Zoning code
GEN BUS
APN
72-25-06-105-041
UPID
US43-3534140
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
MEDICAL BUILDING Current
Est. value
$420,000
COMMERCIAL (GENERAL)
Est. value
$525,000
RETAIL STORES
Est. value
$450,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1949
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
Nancy Hartrick LLC
Entity
Free & Clear · 18 yrs held
Mailing address
32609 WOODWARD AVE, ROYAL OAK, MI 48073-0952
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2007
—
Nancy Hartrick LLC
Hartrick,nancy E
Quit Claim Deed
related
—
—
—
Nancy E Hartrick
—
Deed Of Trust
related
$150,000 · National Cty Bk/midwest
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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