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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Industrial properties
4224 Martin Rd Commerce Township, MI 48390-4118
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1842697
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1989
Total area
9,792 SF
Lot
0.86 ac (37,462 SF)
Zoning code
II
APN
E -17-13-326-003
UPID
US43-1842697
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
$745k
Comparable Approach
Comparable
$825k
Blend (final)
Blend
$635k
Owner & transaction history
Ron Lacobelli · 5 yrs held
Ron Lacobelli
since 2021
Last sale
$605,000
3 recorded transactions
Zoning & alternative use
II · Commerce Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$910,000
+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 Commerce Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Commerce Township 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
$635,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$810,000
6.5%
$745,000
7%
$695,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$795,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$910,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $605k (Feb 2 2021)
Last sale anchor
$605k
Feb 2 2021
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
$12,180
Tax year 2023
Assessed value
$300,150
Assessed 2024
Previous assessed
$274,520
+9.3% YoY
Effective rate
4.06%
On assessed value
Total market value
$600,300
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
1989
Heating
GAS
Cooling
YES
Stories
1
Units
1
Total area
9,792 SF
Lot
0.86 ac (37,462 SF)
Zoning code
II
APN
E -17-13-326-003
UPID
US43-1842697
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Commerce Township, MIZoning II · permitted uses
II · Commerce Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$795,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$910,000
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
1989
Heating
GAS
Cooling
Yes
Stories
1
Units
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Ron Lacobelli
Individual
Free & Clear · 5 yrs held
Mailing address
5647 SASHABAW RD, CLARKSTON, MI 48346-3149
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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 2, 2021
$605,000
Ron Lacobelli
Cheyne Management LLC
Warranty Deed
—
Mar 25, 1998
$380,000
William J Yonish
Pirpinelli & Larkin
Trustees Deed
—
Mar 25, 1998
$600,000
Cheyne Management LLC
Yonish,william J & Judith S
Trustees Deed
$450,000 · Huntington National Bank
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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