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Property profile & analytics
OFF-MARKET
Estimated value
$83,595,000
Flex space
38111 Van Dyke Ave Sterling Heights, MI 48312-1138
Entity Owned
16-yr Hold
Free & Clear
Property ID
US43-4952458
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2012
Total area
1,024,233 SF
Lot
287.2 ac (12,510,432 SF)
Zoning code
M-2
APN
10-10-21-400-012
UPID
US43-4952458
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
$83.60M
Blend (final)
Blend
$83.60M
Owner & transaction history
Chrysler Group LLC · 16 yrs held
Chrysler Group LLC
since 2010
3 recorded transactions
Zoning & alternative use
M-2 · Sterling Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$125.8M
+72.4%
Office building
$121.0M
+65.9%
Retail stores
$106.9M
+46.4%
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 Sterling Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sterling Heights 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
INDUSTRIAL (GENERAL)
$72,975,000
Current use
MEDICAL BUILDING
$125,795,000
Change: +72% · Conversion: Difficult
OFFICE BUILDING
$121,045,000
Change: +66% · Conversion: Difficult
RETAIL STORES
$106,850,000
Change: +46% · Conversion: Moderate
AUTO REPAIR, GARAGE
$88,095,000
Change: +21% · Conversion: Easy
WAREHOUSE, STORAGE
$69,075,000
Change: -5% · Conversion: Easy
Blend value · Realmo final
$83.60M
Range $75.24M – $91.95M · ±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
$82 / 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
$1,758,190
Tax year 2022
Assessed value
$35,022,600
Assessed 2023
Previous assessed
$34,840,400
+0.5% YoY
Effective rate
5.02%
On assessed value
Total market value
$70,045,200
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2012
Heating
FORCED AIR
Stories
1
Total area
1,024,233 SF
Lot
287.2 ac (12,510,432 SF)
Zoning code
M-2
APN
10-10-21-400-012
UPID
US43-4952458
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-2 · Sterling Heights, MI
Zoning M-2 · permitted uses
M-2 · Sterling Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sterling Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$73.0M
MEDICAL BUILDING
Est. value
$125.8M
OFFICE BUILDING
Est. value
$121.0M
RETAIL STORES
Est. value
$106.9M
AUTO REPAIR, GARAGE
Est. value
$88.1M
WAREHOUSE, STORAGE
Est. value
$69.1M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2012
Heating
FORCED AIR
Stories
1
Lot
287.2 ac
Current owner
From public records · entity-resolved
Chrysler Group LLC
Entity
Free & Clear · 16 yrs held
Mailing address
PT 485-12-30, AUBURN HILLS, MI 48326
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2010
—
Chrysler Group LLC
Old Carco LLC
Quit Claim Deed
related
—
Oct 15, 2009
—
Chrysler LLC
—
Deed Of Trust
related
—
—
—
Chrysler LLC
—
Deed Of Trust
related
$4,000,000 · Us Department Of Treasury
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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