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Property profile & analytics
OFF-MARKET
Estimated value
$2,480,000
Industrial properties
40 Engelwood Dr Lake Orion, MI 48359-2419
Entity Owned
27-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0970591
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
2004
Total area
38,016 SF
Lot
3 ac (130,680 SF)
Zoning code
II
APN
O -09-35-100-013
UPID
US43-0970591
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
-
Scate Technologies, Inc. (Bike/Boat/Book/etc) Store Corporate Office
-
Performance Surgical Supplies, Inc. Production Facility
-
Tell Studios Film Production Television Studio
-
IBM (Bike/Boat/Book/etc) Store Corporate Office
-
Amalfi Fine Art Portraiture Artist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.06M
Blend (final)
Blend
$2.48M
Owner & transaction history
Engelwood Resources LLC · 27 yrs held
Engelwood Resources LLC
since 1998
1 recorded transaction
Zoning & alternative use
II · Lake Orion, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
ZONING ORDINANCE
Top alternative use upside
Neighborhood: shopping center
$3.5M
+14.9%
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 Lake Orion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Orion 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
INDUSTRIAL (GENERAL)
$3,080,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,540,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$2.48M
Range $2.23M – $2.73M · ±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
$65 / 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
$32,681
Tax year 2023
Assessed value
$1,112,200
Assessed 2024
Previous assessed
$1,067,440
+4.2% YoY
Effective rate
2.94%
On assessed value
Total market value
$2,224,400
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
2004
Heating
YES
Stories
1
Units
1
Total area
38,016 SF
Lot
3 ac (130,680 SF)
Zoning code
II
APN
O -09-35-100-013
UPID
US43-0970591
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Lake Orion, MIZoning II · permitted uses
II · Lake Orion, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
ZONING ORDINANCE
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.5M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
2004
Heating
YES
Stories
1
Units
1
Lot
3 ac
Current owner
From public records · entity-resolved
Engelwood Resources LLC
Entity
Free & Clear · 27 yrs held
Mailing address
180 ENGELWOOD DR STE I, ORION, MI 48359-2417
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 1998
$963,372
Engelwood Resources LLC
Parlove,joseph & Helen E
Grant Deed
—
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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