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Property profile & analytics
OFF-MARKET
Estimated value
$390,000
Strip malls
33010 Northwestern Hwy West Bloomfield, MI 48322-3690
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1661042
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1985
Total area
11,175 SF
Lot
1.65 ac (71,874 SF)
Zoning code
BI
APN
X -18-35-301-038
UPID
US43-1661042
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
$1.54M
Blend (final)
Blend
$390k
Owner & transaction history
Park Place Shops LLC · 22 yrs held
Park Place Shops LLC
since 2004
5 recorded transactions
Zoning & alternative use
BI · West Bloomfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+81.4%
Medical building
$1.8M
+69.6%
Auto repair, garage
$1.4M
+31.7%
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 West Bloomfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Bloomfield 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
NEIGHBORHOOD: SHOPPING CENTER
$1,040,000
Current use
RETAIL STORES
$1,885,000
Change: +81% · Conversion: Easy
MEDICAL BUILDING
$1,765,000
Change: +70% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,370,000
Change: +32% · Conversion: Difficult
OFFICE BUILDING
$1,310,000
Change: +26% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$905,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$390k
Range $351k – $429k · ±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
$35 / 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
$34,802
Tax year 2023
Assessed value
$734,250
Assessed 2024
Previous assessed
$680,460
+7.9% YoY
Effective rate
4.74%
On assessed value
Total market value
$1,468,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
11,175 SF
Lot
1.65 ac (71,874 SF)
Zoning code
BI
APN
X -18-35-301-038
UPID
US43-1661042
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · West Bloomfield, MIZoning BI · permitted uses
BI · West Bloomfield, 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
RETAIL STORES
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$905,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
INDUSTRIAL (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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
Park Place Shops LLC
Entity
Mailing address
34975 W 12TH MILE RD STE #100, FARMINGTON HILLS, MI 48331-3275
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2021
—
Park Place Shops LLC
—
Deed
related
$690,000 · Genisys Cu
Jul 26, 2017
—
Park Place Shops LLC
—
Deed
related
$750,000 · Security Mutual Life Insurance Company O
Jan 21, 2004
—
Park Place Shops LLC
Finsilver,stanley H & Shari
Grant Deed
related
—
—
—
Park Place Shops LLC
—
Deed Of Trust
related
$700,000 · Flagstar Bank Fsb
—
—
Park Place Shops LLC
—
Deed Of Trust
related
$800,000 · First Michigan 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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