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Property profile & analytics
OFF-MARKET
Estimated value
$9,525,000
Residential income homes
38871 Grand Riv Ave Farmington, MI 48335
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-4912633
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1987
Total area
96,805 SF
Lot
4.66 ac (202,990 SF)
Zoning code
II
APN
22-23-19-351-008
UPID
US43-4912633
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
by Request
Blend (final)
Blend
$9.53M
Owner & transaction history
Ess Wcott LLC · 18 yrs held
Ess Wcott LLC
since 2008
3 recorded transactions
Zoning & alternative use
II · Farmington, MI
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 Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington 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
RETAIL STORES
$12,575,000
Change: 0% · Conversion: Difficult
RESTAURANT
$11,905,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,575,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,485,000
Change: 0% · Conversion: Moderate
MEDICAL BUILDING
$7,205,000
Change: 0% · Conversion: Moderate
WAREHOUSE, STORAGE
$5,950,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$5,860,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$9.53M
Range $8.57M – $10.48M · ±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
$98 / 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
$128,013
Tax year 2023
Assessed value
$2,689,740
Assessed 2024
Previous assessed
$2,431,230
+10.6% YoY
Effective rate
4.76%
On assessed value
Assessed land
$669,910
Assessed improvement
$2,019,830
Land market value
$1,339,820
Improvement market value
$4,039,660
Total market value
$5,379,480
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
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1987
Heating
FORCED AIR
Stories
2
Total area
96,805 SF
Lot
4.66 ac (202,990 SF)
Zoning code
II
APN
22-23-19-351-008
UPID
US43-4912633
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Farmington, MI
Zoning II · permitted uses
II · Farmington, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$12.6M
RESTAURANT
Est. value
$11.9M
AUTO REPAIR, GARAGE
Est. value
$8.6M
COMMERCIAL (GENERAL)
Est. value
$7.5M
MEDICAL BUILDING
Est. value
$7.2M
WAREHOUSE, STORAGE
Est. value
$6.0M
OFFICE BUILDING
Est. value
$5.9M
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
OFFICE 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
1987
Heating
FORCED AIR
Stories
2
Lot
4.66 ac
Current owner
From public records · entity-resolved
Ess Wcott LLC
Entity
Free & Clear · 18 yrs held
Mailing address
6890 S 2300TH E, SALT LAKE CITY, UT 84171-6001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Aug 10, 2018
—
Ess Wcot Owner LLC
—
Loan Modification
related
$115,000,000 · Wells Fargo Bk
Feb 12, 2008
$5,500,000
Ess Wcott LLC
Storage
Warranty Deed
—
—
—
Ess Wcot Owner LLC
—
Deed Of Trust
related
$87,500,000 · Wells Fargo 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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