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Property profile & analytics
OFF-MARKET
Estimated value
$1,090,000
Turn key restaurants
41122 7th Mile Rd, Northville, MI 48167-2648
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US43-1608516
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1977
Total area
7,178 SF
Lot
2.4 ac (104,544 SF)
Zoning code
B-3
APN
77 003 01 0020 000
UPID
US43-1608516
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
-
Rocky's of Northville Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.09M
Owner & transaction history
Robbr Associates LLC · 21 yrs held
Robbr Associates LLC
since 2004
1 recorded transaction
Zoning & alternative use
B-3 · Northville, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.6M
+120.5%
Commercial (general)
$790,000
+6.1%
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 Northville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northville 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
RESTAURANT
$745,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,640,000
Change: +121% · Conversion: Difficult
COMMERCIAL (GENERAL)
$790,000
Change: +6% · Conversion: Easy
OFFICE BUILDING
$695,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$675,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.09M
Range $981k – $1.20M · ±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
$152 / 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
$23,890
Tax year 2023
Assessed value
$561,900
Assessed 2024
Previous assessed
$538,000
+4.4% YoY
Effective rate
4.25%
On assessed value
Total market value
$1,123,800
Applied tax rate
82,390.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1977
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Rooms
8
Bathrooms
4
Total area
7,178 SF
Lot
2.4 ac (104,544 SF)
Zoning code
B-3
APN
77 003 01 0020 000
UPID
US43-1608516
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Northville, MI
Zoning B-3 · permitted uses
B-3 · Northville, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$745,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$790,000
OFFICE BUILDING
Est. value
$695,000
MEDICAL BUILDING
Est. value
$675,000
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1977
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Rooms
8
Bathrooms
4
Lot
2.4 ac
Current owner
From public records · entity-resolved
Robbr Associates LLC
Entity
Mailing address
41122 7TH MILE RD, NORTHVILLE, MI 48167-2648
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
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
Dec 20, 2004
—
Robbr Associates LLC
Robbr Associates
Quit Claim Deed
related
$200,000 · Fifth Third Bank Eastern Mi
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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