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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Commercial real estate
4280 24th Ave Fort Gratiot, MI 48059-3880
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-4547393
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2000
Total area
5,049 SF
Lot
1.3 ac (56,628 SF)
Zoning code
C-2*
APN
74-20-022-1001-020
UPID
US43-4547393
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
by Request
Comparable Approach
Comparable
$705k
Blend (final)
Blend
$705k
Owner & transaction history
Fort Gratiot Grounds LLC · 6 yrs held
Fort Gratiot Grounds LLC
since 2019
7 recorded transactions
Zoning & alternative use
C-2* · Fort Gratiot, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$615,000
+34.8%
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 Fort Gratiot submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Gratiot 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)
$460,000
Current use
MEDICAL BUILDING
$615,000
Change: +35% · Conversion: Easy
Blend value · Realmo final
$705k
Range $635k – $776k · ±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
$140 / 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
$37,364
Tax year 2023
Assessed value
$710,500
Assessed 2024
Previous assessed
$710,500
+0.0% YoY
Effective rate
5.26%
On assessed value
Total market value
$1,421,000
Applied tax rate
20.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2000
Heating
NONE
Stories
1
Total area
5,049 SF
Lot
1.3 ac (56,628 SF)
Zoning code
C-2*
APN
74-20-022-1001-020
UPID
US43-4547393
Jurisdiction
SAINT CLAIR
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C-2* · Fort Gratiot, MIZoning C-2* · permitted uses
C-2* · Fort Gratiot, 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
COMMERCIAL (GENERAL) Current
Est. value
$460,000
MEDICAL BUILDING
Est. value
$615,000
COMMERCIAL (GENERAL) Current
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
2000
Heating
NONE
Stories
1
Lot
1.3 ac
Current owner
From public records · entity-resolved
Fort Gratiot Grounds LLC
Entity
Mailing address
7734 PO BOX 68TH LN, CLARKSTON, MI 48347-0068
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2020
—
Fort Gratiot Grounds LLC
—
Deed
related
$1,372,646 · Waterford Bk NA
Jan 15, 2020
—
Fort Gratiot Grounds LLC
—
Deed
related
$2,467,973 · Waterford Bk NA
Aug 8, 2019
—
Fort Gratiot Grounds LLC
Birchwood Mall LLC
Grant Deed
related
$2,353,446 · Clarkston St Bk
Nov 29, 2017
—
Birchwood Mall LLC
—
Deed
related
—
—
—
Birchwood Mall LLC
—
Deed Of Trust
related
$560,000,000 · Key Bank NA
—
—
Fort Gratiot Grounds LLC
—
Deed Of Trust
related
$2,467,973 · Waterford Bk NA
—
—
Birchwood Mall LLC
—
Loan Modification
related
—
—
—
Fort Gratiot Grounds LLC
—
Loan Modification
related
$1,372,646 · Waterford Bk NA
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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