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Property profile & analytics
FOR SALE
Motels
40500 Michigan Ave, Canton, MI 48188
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1298634
For Sale
1 / 2
$2,700,000
40500 Michigan Ave, Canton, MI 48188
View Listing →
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1988
Construction
FRAME
Total area
27,686 SF
Lot
2.04 ac (88,862 SF)
Zoning code
C-4
APN
71 099 99 0012 002
UPID
US43-1298634
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
-
Econo Lodge Hotel & Motel
-
Pinnacle Windows and Doors Hardware & Home Improvement Interior Design
-
Travelodge by Wyndham Canton/Livonia Area, MI Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.70M
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$2.70M
Blend (final)
Blend
$2.70M
Owner & transaction history
Star Hotel LLC · 2 yrs held
Star Hotel LLC
since 2024
Last sale
$2.7M
2 recorded transactions
Zoning & alternative use
C-4 · Canton, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.7M
+114.2%
Auto repair, garage
$3.0M
+76.7%
Retail stores
$3.0M
+72.8%
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
$2,700,000
ML approach
$2,700,000
CAP Approach
CAP Return
Estimation
6%
$1,810,000
6.5%
$1,670,000
7%
$1,550,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,720,000
Current use
OFFICE BUILDING
$3,685,000
Change: +114% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,040,000
Change: +77% · Conversion: Difficult
RETAIL STORES
$2,970,000
Change: +73% · Conversion: Difficult
MEDICAL BUILDING
$2,695,000
Change: +57% · Conversion: Difficult
Blend value · Realmo final
$2.70M
Range $2.43M – $2.97M · ±10% · vs last sale $2.70M (Jan 2 2024)
Last sale anchor
$2.70M
Jan 2 2024
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
$54,760
Tax year 2023
Assessed value
$1,059,100
Assessed 2024
Previous assessed
$947,100
+11.8% YoY
Effective rate
5.17%
On assessed value
Total market value
$2,118,200
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
Motels
Use group
MOTEL
Status
For Sale
Year built
1988
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Total area
27,686 SF
Lot
2.04 ac (88,862 SF)
Zoning code
C-4
APN
71 099 99 0012 002
UPID
US43-1298634
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C-4 · Canton, MI
Zoning 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
Canton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$3.7M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$3.0M
MEDICAL BUILDING
Est. value
$2.7M
HOTEL/MOTEL Current
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
1988
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Lot
2.04 ac
Current owner
From public records · entity-resolved
Star Hotel LLC
Entity
Mailing address
45768 BAYWOOD BLVD, CANTON, MI 48187-4823
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2024
$2,700,000
Star Hotel LLC
Canton Hospitality LLC
Warranty Deed
$2,880,000 · Home Loan And Investment Bank Fsb
Feb 5, 2018
$1,412,500
Canton Hospitality LLC
Bilimoria Ents LLC
Warranty Deed
$2,090,000 · First Wstrn Sblc
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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