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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Day care centers
3881 Highland Rd, Waterford, MI 48328-2330
Individually Owned
Free & Clear
Property ID
US43-5180089
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
1964
Total area
3,806 SF
Lot
0.86 ac (37,462 SF)
Zoning code
BI
APN
W -13-23-354-001
UPID
US43-5180089
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
$603k
Blend (final)
Blend
$515k
Owner & transaction history
Daniel M Henzie
Daniel M Henzie
since 2025
7 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$670,000
+28.3%
Medical building
$600,000
+15.4%
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 Waterford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterford 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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$520,000
Current use
COMMERCIAL (GENERAL)
$670,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$600,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$135 / 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
$10,649
Tax year 2023
Assessed value
$242,530
Assessed 2024
Previous assessed
$240,180
+1.0% YoY
Effective rate
4.39%
On assessed value
Total market value
$485,060
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
1964
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
3,806 SF
Lot
0.86 ac (37,462 SF)
Zoning code
BI
APN
W -13-23-354-001
UPID
US43-5180089
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Waterford, MI
Zoning BI · permitted uses
BI · Waterford, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waterford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$520,000
COMMERCIAL (GENERAL)
Est. value
$670,000
MEDICAL BUILDING
Est. value
$600,000
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1964
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Daniel M Henzie
Individual
Free & Clear · 0 yrs held
Mailing address
1111 FAIRVIEW ST, WHITE LAKE, MI 48386-4124
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2025
—
Daniel M Henzie
Daniel M Henzie
Deed
related
—
Sep 20, 2024
—
Crthebert LLC
Daniel M Henzie
Land Contract
—
Jan 26, 2018
—
Waterford Med Realty LLC
American Physicians Building Corp
Warranty Deed
$590,625 · Franklin Savings Bank
Aug 12, 2003
$200,000
Barbara J Knauss
Myers,tr
Grant Deed
—
Aug 6, 2003
—
Barbara J Knauss
Knauss,tr
Quit Claim Deed
related
—
Jul 18, 2003
$405,000
Daniel M Henzie
Knauss,barbara J
Grant Deed
—
Jul 16, 2003
—
Barbara J Knauss
Wheeler,tr
Quit Claim Deed
related
—
—
—
Rebecca L Henzie
—
Deed Of Trust
related
$324,000 · Franklin Bank
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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