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Property profile & analytics
OFF-MARKET
Estimated value
$1,865,000
Warehouses
36250 Surfside Dr, New Baltimore, MI 48047-3393
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-2159592
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2018
Total area
11,904 SF
Lot
7.09 ac (308,840 SF)
Zoning code
WD
APN
06-09-24-228-007
UPID
US43-2159592
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
$1.72M
Comparable Approach
Comparable
$1.49M
Blend (final)
Blend
$1.87M
Owner & transaction history
Riehl Brothers Holdings LLC · 4 yrs held
Riehl Brothers Holdings LLC
since 2022
Last sale
$2.2M
1 recorded transaction
Zoning & alternative use
WD · New Baltimore, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.2M
+175.7%
Restaurant
$1.7M
+110.2%
Medical building
$1.5M
+82.1%
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
Method
Estimation
Statistic approach
$2,160,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,860,000
6.5%
$1,715,000
7%
$1,595,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,215,000
Change: +176% · Conversion: Moderate
RESTAURANT
$1,690,000
Change: +110% · Conversion: Difficult
MEDICAL BUILDING
$1,460,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,225,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$1,130,000
Change: +41% · Conversion: Difficult
Blend value · Realmo final
$1.87M
Range $1.68M – $2.05M · ±10% · vs last sale $2.16M (Mar 15 2022)
Last sale anchor
$2.16M
Mar 15 2022
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
$157 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$36,143
Tax year 2022
Assessed value
$887,800
Assessed 2023
Previous assessed
$612,700
+44.9% YoY
Effective rate
4.07%
On assessed value
Total market value
$1,775,600
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2018
Heating
FORCED AIR
Stories
1
Total area
11,904 SF
Lot
7.09 ac (308,840 SF)
Zoning code
WD
APN
06-09-24-228-007
UPID
US43-2159592
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
WD · New Baltimore, MI
Zoning WD · permitted uses
WD · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$2.2M
RESTAURANT
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2018
Heating
FORCED AIR
Stories
1
Lot
7.09 ac
Current owner
From public records · entity-resolved
Riehl Brothers Holdings LLC
Entity
Mailing address
32899 VAN DYKE AVE, WARREN, MI 48093-8139
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2022
$2,157,000
Riehl Brothers Holdings LLC
North Surf Development LLC
Warranty Deed
$2,173,033 · James E Riehl JR Trust
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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