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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Super regional malls
34425 Grand Riv Ave, Farmington, MI 48335-3309
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1775400
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1984
Total area
4,221 SF
Lot
0.31 ac (13,504 SF)
Zoning code
C2
APN
20-23-28-128-034
UPID
US43-1775400
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
-
Gift of India Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$471k
Blend (final)
Blend
$540k
Owner & transaction history
La Marsa Properties LLC · 5 yrs held
La Marsa Properties LLC
since 2020
Last sale
$525,000
4 recorded transactions
Zoning & alternative use
C2 · Farmington, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$745,000
+89.3%
Medical building
$665,000
+69.6%
Auto repair, garage
$515,000
+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 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
$650,000
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
$395,000
Current use
COMMERCIAL (GENERAL)
$745,000
Change: +89% · Conversion: Easy
MEDICAL BUILDING
$665,000
Change: +70% · Conversion: Difficult
AUTO REPAIR, GARAGE
$515,000
Change: +32% · Conversion: Difficult
OFFICE BUILDING
$505,000
Change: +28% · Conversion: Moderate
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $525k (Dec 30 2020)
Last sale anchor
$525k
Dec 30 2020
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
$128 / 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
$11,082
Tax year 2023
Assessed value
$247,100
Assessed 2024
Previous assessed
$234,930
+5.2% YoY
Effective rate
4.48%
On assessed value
Total market value
$494,200
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1984
Heating
ZONE
Buildings
2
Stories
1
Units
1
Total area
4,221 SF
Lot
0.31 ac (13,504 SF)
Zoning code
C2
APN
20-23-28-128-034
UPID
US43-1775400
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C2 · Farmington, MI
Zoning C2 · permitted uses
C2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$395,000
COMMERCIAL (GENERAL)
Est. value
$745,000
MEDICAL BUILDING
Est. value
$665,000
AUTO REPAIR, GARAGE
Est. value
$515,000
OFFICE BUILDING
Est. value
$505,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1984
Heating
ZONE
Stories
1
Buildings
2
Units
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
La Marsa Properties LLC
Entity
Free & Clear · 5 yrs held
Mailing address
24273 MIDDLEBELT RD, FARMINGTON HILLS, MI 48336-2132
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2021
—
La Marsa Properties LLC
—
Deed
related
$600,000 · Independent Bank
Jun 2, 2021
—
La Marsa Properties LLC
—
Deed
related
$1,773,000 · Independent Bank
Dec 30, 2020
$525,000
La Marsa Properties LLC
Leo Soave
Warranty Deed
—
Jan 27, 2016
—
La Marsa Properties LLC
Soave,leo & Maria
Quit Claim 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.
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