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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Grocery and convenience stores
38800 Michigan Ave, Wayne, MI 48184-1060
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0897320
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1992
Total area
2,627 SF
Lot
1.32 ac (57,499 SF)
APN
55 010 99 0012 701
UPID
US43-0897320
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
$525k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$595k
Owner & transaction history
Youssef Investments Xxi LLC · 4 yrs held
Youssef Investments Xxi LLC
since 2022
Last sale
$595,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$440,000
+110.2%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$660,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$565,000
6.5%
$525,000
7%
$485,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$440,000
Change: +110% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $595k (May 19 2022)
Last sale anchor
$595k
May 19 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
$226 / 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
$26,605
Tax year 2023
Assessed value
$412,900
Assessed 2024
Previous assessed
$364,800
+13.2% YoY
Effective rate
6.44%
On assessed value
Total market value
$825,800
Applied tax rate
82,160.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Stories
1
Total area
2,627 SF
Lot
1.32 ac (57,499 SF)
APN
55 010 99 0012 701
UPID
US43-0897320
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
COMMERCIAL (GENERAL)
Est. value
$440,000
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
1992
Heating
FORCED AIR
Stories
1
Lot
1.32 ac
Current owner
From public records · entity-resolved
Youssef Investments Xxi LLC
Entity
Mailing address
38800 MICHIGAN AVE, WAYNE, MI 48184-1060
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 19, 2025
—
Youssef Investment Xxi LLC
—
Deed
related
—
May 19, 2022
$595,000
Youssef Investments Xxi LLC
Fourteen Stars Mgmt & Accounting Sv
Warranty Deed
$1,228,500 · Citizens Bank NA
Sep 12, 2013
$842,754
Fourteen Stars Mgmt & Accounti
Franks Property LLC
Warranty Deed
$488,056 · Bank Of Mi
Sep 15, 2009
—
Fourteen Stars Mgmt & Accounti
Franks Property LLC
Grant Deed
related
—
Jan 15, 2009
—
Franks Property LLC
Sitto & Sitto INC
Warranty Deed
—
—
—
Fourteen Stars Mgmt & Accounti
—
Loan Modification
related
$575,000 · Bank Of Mi
—
—
Franks Property LLC
—
Deed Of Trust
related
$856,500 · Bank Of Mi
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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