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Property profile & analytics
OFF-MARKET
Estimated value
$4,700,000
Warehouses
385 Redman Rd, Milan, MI 48160-1622
Entity Owned
2-yr Hold
Free & Clear
Property ID
US43-2694631
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Total area
17,970 SF
Lot
3.74 ac (162,784 SF)
APN
53-040-225-10
UPID
US43-2694631
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
$4.70M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.70M
Owner & transaction history
Mlen Satf Menge LLC · 2 yrs held
Mlen Satf Menge LLC
since 2024
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
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 Milan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milan 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
$4,700,000
ML approach
$4,700,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.70M
Range $4.23M – $5.17M · ±10% · vs last sale $4.70M (Apr 22 2024)
Last sale anchor
$4.70M
Apr 22 2024
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
$262 / 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
$17,270
Tax year 2023
Assessed value
$252,300
Assessed 2023
Previous assessed
$252,300
+0.0% YoY
Effective rate
6.85%
On assessed value
Total market value
$504,600
Applied tax rate
53.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Heating
FORCED AIR
Total area
17,970 SF
Lot
3.74 ac (162,784 SF)
APN
53-040-225-10
UPID
US43-2694631
Jurisdiction
MONROE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
FORCED AIR
Lot
3.74 ac
Current owner
From public records · entity-resolved
Mlen Satf Menge LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1406 WALDORF AVE, AUSTIN, TX 78721-1350
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2024
$4,700,000
Mlen Satf Menge LLC
Griffin Self Sterage LLC
Warranty Deed
—
Aug 24, 2022
—
Griffin Self Storage LLC
—
Deed
related
$1,490,000 · Bank Five Nine
Jun 25, 2020
—
Self Storage LLC
—
Deed
related
$1,460,000 · First Bank Financial Centre
Oct 10, 2019
$110,000
Griffin Self Storage LLC
Milan Storage Dev LLC
Warranty Deed
—
Oct 10, 2019
$98,000
Milan Storage Dev LLC
Gilmar Carvalho
Warranty Deed
—
Jun 19, 2018
$100,000
Gilmar Carvalho
Butcko,joseph D
Warranty Deed
—
Sep 2, 2015
—
Gilmar Carvalho
Bucko Investment LP
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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