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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office buildings
33004 Grand Riv Ave Farmington, MI 48336-3118
Entity Owned
19-yr Hold
Free & Clear
Property ID
US43-0246617
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Total area
3,612 SF
Lot
0.27 ac (11,761 SF)
Zoning code
CBD
APN
20-23-27-154-012
UPID
US43-0246617
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
-
Kelly Rehfield Realty Real Estate Agency
-
Sarah Myszkier, Mutual Realty, LLC Real Estate Agency
-
Stand Out Party Event Planning
-
Jennifer Fanning, Mutual Realty, LLC Real Estate Agency
-
Supreme Lending Michigan Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$505k
Blend (final)
Blend
$505k
Owner & transaction history
Heppard Commercial LLC · 19 yrs held
Heppard Commercial LLC
since 2006
7 recorded transactions
Zoning & alternative use
CBD · Farmington, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$635,000
+51.3%
Medical building
$570,000
+35.6%
Auto repair, garage
$445,000
+5.3%
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 Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington 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
OFFICE BUILDING
$420,000
Current use
COMMERCIAL (GENERAL)
$635,000
Change: +51% · Conversion: Easy
MEDICAL BUILDING
$570,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$445,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$140 / 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
$18,024
Tax year 2023
Assessed value
$336,850
Assessed 2024
Previous assessed
$324,460
+3.8% YoY
Effective rate
5.35%
On assessed value
Total market value
$673,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1968
Heating
ZONE
Cooling
YES
Stories
1
Units
1
Total area
3,612 SF
Lot
0.27 ac (11,761 SF)
Zoning code
CBD
APN
20-23-27-154-012
UPID
US43-0246617
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
CBD · Farmington, MI
Zoning CBD · permitted uses
CBD · Farmington, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$420,000
COMMERCIAL (GENERAL)
Est. value
$635,000
MEDICAL BUILDING
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$445,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1968
Heating
ZONE
Cooling
Yes
Stories
1
Units
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Heppard Commercial LLC
Entity
Free & Clear · 19 yrs held
Mailing address
33004 GRAND RIV AVE, FARMINGTON, MI 48336-3118
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Dec 16, 2020
—
Heppard Commercial LLC
—
Deed
related
$235,000 · Key Bank NA
Apr 3, 2018
—
Heppard Commercial LLC
—
Deed
related
$250,000 · First Independence Bk/fl
Aug 11, 2006
—
Heppard Commercial LLC
Heppard Investments LLC
Quit Claim Deed
related
—
Aug 24, 2004
$582,000
Heppard Investments LLC
Emaco LLC
Warranty Deed
—
Jan 25, 2002
—
Heppard Investments LLC
Emaco LLC
Grant Deed
related
—
Aug 5, 1999
$430,000
Emaco LLC
Christ,robert F
Grant Deed
$364,000 · Bank One Michigan
—
—
Heppard Coml LLC
—
Deed Of Trust
related
$200,000 · First Independence Bank
—
—
Heppard Investments LLC
—
Deed Of Trust
related
$100,000 · Key Bank NA
—
—
Heppard Commercial LLC
—
Loan Modification
related
$250,000 · First Independence Bk/fl
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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