Entity Owned Property summary
AI-generated overview
The property consists of a 14,890-square-foot building that was historically used as a food market. It provides substantial interior area with extensive storage space and includes a loading dock and bay door to support deliveries and back-of-house operations. The building configuration allows for mixed-use possibilities and may be adaptable to alternative retail formats, including potential conversion into smaller units. It is located in downtown Romulus on Goddard with visibility from a busy roadway and is within walking distance of downtown Romulus. A large parking area is included to support customer access and future parking needs.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1957
Total area
15,070 SF
Lot
0.57 ac (24,829 SF)
Zoning code
CBD-2
APN
80 078 01 0240 002
UPID
US43-0348625
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$884k
Blend (final)
Blend
$525k
Owner & transaction history
since 2015
1 recorded transaction
Zoning & alternative use
CBD-2 · Romulus, MI
Zoning description
The Downtown District is intended to create a pedestrian oriented destination that offers entertainment, shopping, employment, housing, and recreation opportunities for those who live in, work in, or visit Romulus
General category
COMMERCIAL
Top alternative use upside
Medical building
$1.4M
+14.6%
Office building
$1.3M
+6.8%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$525k
Value range
$473k – $578k
±10% around blend
Estimated value / SF
$35 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$473k
blend $525k
$578k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
15,070 SF
Lot area
0.57 ac
Year built
1957
Stories
1
APN
80 078 01 0240 002
Zoning
CBD-2
Assessed value
$340,800
Annual tax
$22,521
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$884k
Range $719k – $1.76M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$525k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 52 sales
$82
-58%
County 1022 sales
$76
-54%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $35/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+15%
vs current-use indication
Office Building
Retail Stores · current use
Neighborhood: Shopping Center
Restaurant
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$341k
Move the market yield to see immediate price impact.
Value / SF
$23
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$21k
$429k
$307k
$239k
$24k
$477k
$341k
$265k
$26k
$525k
$375k
$292k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,521
Tax year 2023
Assessed value
$340,800
Assessed 2024
Previous assessed
$315,500
+8.0% YoY
Effective rate
6.61%
On assessed value
Total market value
$681,600
Applied tax rate
82,130.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1957
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
15,070 SF
Lot
0.57 ac (24,829 SF)
Zoning code
CBD-2
APN
80 078 01 0240 002
UPID
US43-0348625
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
CBD-2 · Romulus, MIZoning CBD-2 · permitted uses
CBD-2 · Romulus, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The Downtown District is intended to create a pedestrian oriented destination that offers entertainment, shopping, employment, housing, and recreation opportunities for those who live in, work in, or visit Romulus
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.57 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CBD-2
COMMERCIAL
Jurisdiction
Romulus, MI
Recorded code
CBD-2
Official district
CBD-2
Official district profile
What the municipal code says about CBD-2
Zoning description
The Downtown District is intended to create a pedestrian oriented destination that offers entertainment, shopping, employment, housing, and recreation opportunities for those who live in, work in, or visit Romulus
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CBD-2 in Romulus, MI.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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