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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Retail space
3925 Elizabeth Lk Rd Waterford, MI 48328-3099
Entity Owned
~
Est. High Equity
Property ID
US43-0425073
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
5,655 SF
Lot
0.4 ac (17,424 SF)
Zoning code
BI
APN
W -13-26-301-029
UPID
US43-0425073
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
$579k
Blend (final)
Blend
$580k
Owner & transaction history
Jericho Enterprises LLC
Jericho Enterprises LLC
since 2026
7 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$895,000
+54.4%
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
RETAIL STORES
$580,000
Current use
MEDICAL BUILDING
$895,000
Change: +54% · Conversion: Difficult
AUTO REPAIR, GARAGE
$545,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$525,000
Change: -9% · Conversion: Moderate
OFFICE BUILDING
$495,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$103 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$11,298
Tax year 2019
Assessed value
$237,510
Assessed 2020
Previous assessed
$237,510
+0.0% YoY
Effective rate
4.76%
On assessed value
Total market value
$475,020
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2008
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,655 SF
Lot
0.4 ac (17,424 SF)
Zoning code
BI
APN
W -13-26-301-029
UPID
US43-0425073
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
RETAIL STORES Current
Est. value
$580,000
MEDICAL BUILDING
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$545,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$525,000
OFFICE BUILDING
Est. value
$495,000
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2008
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Jericho Enterprises LLC
Entity
Mailing address
3925 ELIZABETH LK RD, WATERFORD, MI 48328-3099
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2026
$2,500,000
Jericho Enterprises LLC
Randy Thweni
Warranty Deed
$1,875,000 · Citizens State Bank
Mar 13, 2026
—
Randy Thweni
Marino Rr LLC
Quitclaim Deed
related
—
Feb 23, 2026
$1,225,000
Marino Rr LLC
Randes Properties LLC
Warranty Deed
$1,875,000 · Citizens State Bank
Jan 26, 2023
—
Marino Rr LLC
Randes Properties LLC
Land Contract
—
Aug 9, 2016
—
Randes Properties LLC
—
Deed
related
$600,000 · Old National Bank
Jan 23, 2006
$600,000
Randes Properties LLC
Lydell INC
Warranty Deed
—
Apr 26, 2005
$415,000
Lydell INC
Aztec Ltd LLC
Warranty Deed
$423,000 · Citizens Federal Bank Fsb
Apr 3, 2002
$134,310
Aztec Ltd
Petrol Properties LLC
Grant Deed
—
Feb 20, 2002
—
Aztec Ltd LLC
—
Deed Of Trust
related
$4,400,000 · Bank One Michigan
Jan 19, 2001
$134,500
Petrol Properties LLC
Speedway Superamerica LLC
Grant Deed
—
—
—
Randes Properties LLC
—
Deed Of Trust
related
$150,000 · Corrigan Oil Co
—
—
Randes Properties LLC
—
Deed Of Trust
related
$792,750 · Sterling Bank & Trust Fsb
—
—
Randes Properties LLC
—
Deed Of Trust
related
$400,000 · Sterling Bank & Trust Fsb
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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