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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Medical Office Space
38525 8th Mile Rd Livonia, MI 48152-1012
Entity Owned
22-yr Hold
Free & Clear
Property ID
US43-1138864
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1836
Total area
5,846 SF
Lot
1.51 ac (65,776 SF)
APN
46 022 99 0001 000
UPID
US43-1138864
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
-
Andrew Borin DO Physician
-
Dr. Keith J. Pierce, MD Physician
-
Michigan Institute of Medicine Medical Clinic
-
ASHLEY JEANNE ADAMS Physician
-
AMINA HASSAN Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$787k
Blend (final)
Blend
$785k
Owner & transaction history
Mim Real Estate Co LLC · 22 yrs held
Mim Real Estate Co LLC
since 2004
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$825,000
+50.3%
Restaurant
$605,000
+10.0%
Commercial (general)
$605,000
+9.7%
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 Livonia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Livonia 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
MEDICAL BUILDING
$550,000
Current use
OFFICE BUILDING
$825,000
Change: +50% · Conversion: Easy
RESTAURANT
$605,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$605,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$134 / 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
$24,721
Tax year 2023
Assessed value
$645,700
Assessed 2024
Previous assessed
$585,800
+10.2% YoY
Effective rate
3.83%
On assessed value
Total market value
$1,291,400
Applied tax rate
82,095.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1836
Heating
FORCED AIR
Stories
2
Bathrooms
1
Total area
5,846 SF
Lot
1.51 ac (65,776 SF)
APN
46 022 99 0001 000
UPID
US43-1138864
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$550,000
OFFICE BUILDING
Est. value
$825,000
RESTAURANT
Est. value
$605,000
COMMERCIAL (GENERAL)
Est. value
$605,000
MEDICAL BUILDING Current
OFFICE BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
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
1836
Heating
FORCED AIR
Stories
2
Bathrooms
1
Lot
1.51 ac
Current owner
From public records · entity-resolved
Mim Real Estate Co LLC
Entity
Free & Clear · 22 yrs held
Mailing address
38525 8TH MILE RD, LIVONIA, MI 48152-1012
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2023
—
Mim Real Estate Company LLC
—
Deed
related
$99,003 · Community Choice Cu
Jun 23, 2020
—
Mim Real Estate LLC
—
Deed
related
$10,000 · Community Choice Cu
Mar 17, 2004
$1,361,370
Mim Real Estate Co LLC
Jb Donaldson Co INC
Warranty Deed
—
—
—
John A Tittensor
—
Deed Of Trust
related
$25,400 · First Nlc Financial Services
—
—
Mim Real Estate Co LLC
—
Deed Of Trust
related
$693,750 · Community Choice Cu
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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