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Property profile & analytics
OFF-MARKET
Grocery and convenience stores
35512 23rd Mile Rd, New Baltimore, MI 48047-2020
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-1507253
Property summary
AI-generated overview
This profitable Arco gas station in New Baltimore, Michigan, is offered at $1,050,000. The 1,265 square foot building sits on a prominent .34-acre corner lot, providing ample space for potential expansion. Recently remodeled, this established business boasts impressive sales volume, averaging approximately 50,000 gallons of fuel per month. The eight-pump station benefits from healthy profit margins ranging from $0.25 to $0.40 per gallon. Financial data is estimated
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2008
Total area
1,265 SF
Lot
0.34 ac (14,985 SF)
Zoning code
GC
APN
06-09-24-203-033
UPID
US43-1507253
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
-
ARCO Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ibb Petroleum Service INC · 4 yrs held
Ibb Petroleum Service INC
since 2022
Last sale
$600,000
7 recorded transactions
Zoning & alternative use
GC · New Baltimore, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 New Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Baltimore 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2022Property tax & assessments
Tax year 2022
Tax billed
$14,385
Tax year 2022
Assessed value
$256,000
Assessed 2023
Previous assessed
$242,300
+5.7% YoY
Effective rate
5.62%
On assessed value
Total market value
$512,000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Stories
1
Total area
1,265 SF
Lot
0.34 ac (14,985 SF)
Zoning code
GC
APN
06-09-24-203-033
UPID
US43-1507253
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
GC · New Baltimore, MI
Zoning GC · permitted uses
GC · New Baltimore, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Baltimore. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2008
Heating
FORCED AIR
Stories
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Ibb Petroleum Service INC
Entity
Free & Clear · 4 yrs held
Mailing address
21350 RYAN RD, WARREN, MI 48091-2753
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 2022
—
Ibb Petroleum Service INC
Razia Enterprises LLC
Quit Claim Deed
related
—
Oct 28, 2020
$600,000
Yatooma Property 1 LLC
Malla Properties LLC
Warranty Deed
$576,188 · Tri County Bank
Aug 11, 2020
$625,000
Malla Properties LLC
Fast Track Ventures LLC
Grant Deed
—
Aug 7, 2020
—
Malla Properties LLC
35512 23 Mile LLC
Quit Claim Deed
related
—
Oct 3, 2017
—
35512 23 Mile LLC
Fast Track Ventures LLC
Quit Claim Deed
related
—
Feb 8, 2011
—
Ftv Mount Clemens-35526
—
Deed Of Trust
related
$100,000,000 · Wells Fargo Bank
—
—
Fast Track Ventures LLC
—
Loan Modification
related
$116,645,751 · Wells Fargo Bank
—
—
Richard Buonocore
—
Deed Of Trust
related
$40,000 · Joseph Saigh
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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