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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Strip malls
40345 Michigan Ave Canton, MI 48188-2908
Entity Owned
11-yr Hold
Free & Clear
Property ID
US43-0946706
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1989
Total area
9,350 SF
Lot
1.04 ac (45,302 SF)
Zoning code
C-4
APN
71 141 99 0027 705
UPID
US43-0946706
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
$1.01M
Blend (final)
Blend
$1.01M
Owner & transaction history
Canton Tower Plaza LLC · 11 yrs held
Canton Tower Plaza LLC
since 2015
3 recorded transactions
Zoning & alternative use
C-4 · Canton, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-2, COMMUNITY COMMERCIAL DISTRICT ARTICLE 16.00. - C-2, COMMUNITY COMMERCIAL DISTRICT Expand ARTICLE 17.00. - C-3, REGIONAL COMMERCIAL DISTRICT ARTICLE 17.00. - C-3, REGIONAL COMMERCIAL DISTRICT Expand ARTICLE 18.00. - C-4, INTERCHANGE SERVICE DISTRICT ARTICLE 18.00. - C-4, INTERCHANGE SERVICE DISTRICT Expand ARTICLE 19.00. - MRD, MID-RISE DEVELOPMENT DISTR…
Zone name
Interchange Service
General category
COMMERCIAL
Zone area
3.83 ac
Top alternative use upside
Commercial (general)
$1.6M
+110.2%
Office building
$1.2M
+67.2%
Auto repair, garage
$1.0M
+38.0%
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 Canton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Canton 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
NEIGHBORHOOD: SHOPPING CENTER
$745,000
Current use
COMMERCIAL (GENERAL)
$1,565,000
Change: +110% · Conversion: Easy
OFFICE BUILDING
$1,245,000
Change: +67% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,025,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$1,005,000
Change: +35% · Conversion: Easy
MEDICAL BUILDING
$910,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±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
$108 / 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
$31,277
Tax year 2023
Assessed value
$583,200
Assessed 2024
Previous assessed
$543,900
+7.2% YoY
Effective rate
5.36%
On assessed value
Total market value
$1,166,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Stories
1
Rooms
5
Bathrooms
1
Total area
9,350 SF
Lot
1.04 ac (45,302 SF)
Zoning code
C-4
APN
71 141 99 0027 705
UPID
US43-0946706
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-4 · Canton, MIZoning C-4 · permitted uses
C-4 · Canton, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-2, COMMUNITY COMMERCIAL DISTRICT ARTICLE 16.00. - C-2, COMMUNITY COMMERCIAL DISTRICT Expand ARTICLE 17.00. - C-3, REGIONAL COMMERCIAL DISTRICT ARTICLE 17.00. - C-3, REGIONAL COMMERCIAL DISTRICT Expand ARTICLE 18.00. - C-4, INTERCHANGE SERVICE DISTRICT ARTICLE 18.00. - C-4, INTERCHANGE SERVICE DISTRICT Expand ARTICLE 19.00. - MRD, MID-RISE DEVELOPMENT DISTRICT AND HRD, HIGH-RISE DEVELOPMENT DISTRICT ARTICLE 19.00. - MRD, MID-RISE DEVELOPM
Zone name
Interchange Service
General category
COMMERCIAL
Zone area
3.83 ac
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$745,000
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$910,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1989
Heating
FORCED AIR
Stories
1
Rooms
5
Bathrooms
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
Canton Tower Plaza LLC
Entity
Free & Clear · 11 yrs held
Mailing address
40345 MICHIGAN AVE, CANTON, MI 48188-2908
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Feb 4, 2015
$425,000
Canton Tower Plaza LLC
National Republic Bk Of Chicago C
Grant Deed
—
Oct 3, 2011
$800,000
National Republic Bk Of Chicago
Deputy Sheriff Of Wayne County
Trustees Deed
related
—
—
—
Bharatbhai H Patel
—
Deed Of Trust
related
$1,000,000 · National Republic Bank Chicago
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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