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Property profile & analytics
FOR SALE
Commercial real estate
40350 Grand River Ave, Novi, MI 48375
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US43-1399831
For Sale
1 / 4
$2,200,000
40350 Grand River Ave, Novi, MI 48375
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1996
Total area
11,050 SF
Lot
1.56 ac (67,954 SF)
Zoning code
I-1
APN
50-22-24-401-016
UPID
US43-1399831
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
-
Conserva Electric Supply Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$1.59M
Owner & transaction history
Stage 3 Ventures LLC
Stage 3 Ventures LLC
since 2025
Last sale
$2.2M
6 recorded transactions
Zoning & alternative use
I-1 · Novi, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+28.0%
Retail stores
$1.9M
+24.8%
Medical building
$1.7M
+16.7%
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 Novi submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Novi 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
COMMERCIAL (GENERAL)
$1,495,000
Current use
RESTAURANT
$1,915,000
Change: +28% · Conversion: Difficult
RETAIL STORES
$1,865,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$1,745,000
Change: +17% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,355,000
Change: -9% · Conversion: Difficult
OFFICE BUILDING
$1,295,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.59M
Range $1.43M – $1.74M · ±10% · vs last sale $2.15M (Jul 15 2025)
Last sale anchor
$2.15M
Jul 15 2025
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
$143 / 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
$14,972
Tax year 2023
Assessed value
$319,610
Assessed 2023
Previous assessed
$319,610
+0.0% YoY
Effective rate
4.68%
On assessed value
Total market value
$639,220
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1996
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
11,050 SF
Lot
1.56 ac (67,954 SF)
Zoning code
I-1
APN
50-22-24-401-016
UPID
US43-1399831
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Novi, MI
Zoning I-1 · permitted uses
I-1 · Novi, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Novi. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.9M
RETAIL STORES
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
Stage 3 Ventures LLC
Entity
Mailing address
7550 HAMMEL RD, BRIGHTON, MI 48116-8812
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
$2,150,000
Stage 3 Ventures LLC
Kathleen Bozek Rlt
Warranty Deed
—
Jun 20, 2013
—
Bozek,kathleen Living Trust
Bozek,kathleen
Quit Claim Deed
related
—
Jun 21, 2004
—
Kathleen Bozek
Bozek,thomas C
Quit Claim Deed
related
—
Feb 24, 2003
—
Bozek,tr
Bozek,kathleen
Quit Claim Deed
related
—
Feb 8, 2003
—
Kathleen Bozek
Bozek,thomas C & Kathleen
Quit Claim Deed
related
—
—
—
Bozek,tr
—
Deed Of Trust
related
$564,003 · Metrobank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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