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Property profile & analytics
OFF-MARKET
Estimated value
$3,910,000
Grocery and convenience stores
425 Ctr St Northville, MI 48167-1263
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0393603
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1971
Total area
35,544 SF
Lot
1.98 ac (86,249 SF)
Zoning code
CBD
APN
48 002 01 0566 003
UPID
US43-0393603
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
-
Kroger Bakery Bakery Specialty Food Shop
-
Murray's Cheese Northville Bakery Specialty Food Shop
-
Starbucks Cafe & Coffee Shop
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Kroger Deli Food Market Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.91M
Blend (final)
Blend
$3.91M
Owner & transaction history
Kroger Co Of Michigan · 10 yrs held
Kroger Co Of Michigan
since 2015
2 recorded transactions
Zoning & alternative use
CBD · Northville, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the Central Business District is to create an area of high intensity urban conditions providing convenient and accessible goods and services within an aesthetically pleasing environment
Zone name
Central Business District
General category
COMMERCIAL
Zone area
42.41 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$3.9M
+44.2%
Restaurant
$3.7M
+36.0%
Office building
$3.5M
+27.5%
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
RETAIL STORES
$2,705,000
Current use
COMMERCIAL (GENERAL)
$3,905,000
Change: +44% · Conversion: Easy
RESTAURANT
$3,680,000
Change: +36% · Conversion: Easy
OFFICE BUILDING
$3,450,000
Change: +28% · Conversion: Easy
MEDICAL BUILDING
$3,345,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,830,000
Change: +4% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,550,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$3.91M
Range $3.52M – $4.30M · ±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
$110 / 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
$73,742
Tax year 2023
Assessed value
$1,233,100
Assessed 2024
Previous assessed
$1,201,100
+2.7% YoY
Effective rate
5.98%
On assessed value
Total market value
$2,466,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1971
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Stories
1
Bathrooms
2
Total area
35,544 SF
Lot
1.98 ac (86,249 SF)
Zoning code
CBD
APN
48 002 01 0566 003
UPID
US43-0393603
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
CBD · Northville, MIZoning CBD · permitted uses
CBD · Northville, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the Central Business District is to create an area of high intensity urban conditions providing convenient and accessible goods and services within an aesthetically pleasing environment
Zone name
Central Business District
General category
COMMERCIAL
Zone area
42.41 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$3.9M
RESTAURANT
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1971
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Bathrooms
2
Lot
1.98 ac
Current owner
From public records · entity-resolved
Kroger Co Of Michigan
Entity
Free & Clear · 10 yrs held
Mailing address
40399 GRAND RIV AVE #110, NOVI, MI 48375-2123
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2015
—
Kroger Co Of Michigan
Hiller Associates II LLC
Grant Deed
—
Jun 23, 2004
$1,200,000
Hiller Assoc II LLC
Craig,eleanor Jayne
Grant Deed
—
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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