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Property profile & analytics
OFF-MARKET
Estimated value
$1,920,000
Office buildings
429 Main St, Rochester, MI 48307-2036
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1694530
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1914
Total area
11,430 SF
Lot
0.16 ac (6,970 SF)
Zoning code
BI
APN
68-15-15-228-011
UPID
US43-1694530
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
$1.91M
Blend (final)
Blend
$1.92M
Owner & transaction history
429 South Main LLC · 3 yrs held
429 South Main LLC
since 2022
Last sale
$1.9M
1 recorded transaction
Zoning & alternative use
BI · Rochester, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+47.6%
Retail stores
$1.9M
+43.9%
Medical building
$1.8M
+34.6%
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 Rochester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester 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
$1,975,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,340,000
Current use
RESTAURANT
$1,980,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$1,930,000
Change: +44% · Conversion: Moderate
MEDICAL BUILDING
$1,805,000
Change: +35% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,400,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.92M
Range $1.73M – $2.11M · ±10% · vs last sale $1.90M (Aug 8 2022)
Last sale anchor
$1.90M
Aug 8 2022
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
$168 / 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
$29,918
Tax year 2023
Assessed value
$849,960
Assessed 2024
Previous assessed
$586,730
+44.9% YoY
Effective rate
3.52%
On assessed value
Total market value
$1,699,920
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1914
Heating
YES
Cooling
REFRIGERATOR
Stories
2
Units
1
Total area
11,430 SF
Lot
0.16 ac (6,970 SF)
Zoning code
BI
APN
68-15-15-228-011
UPID
US43-1694530
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Rochester, MI
Zoning BI · permitted uses
BI · Rochester, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rochester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.3M
RESTAURANT
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
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
1914
Heating
YES
Cooling
Yes
Stories
2
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
429 South Main LLC
Entity
Mailing address
425 S MAIN ST STE #101, ROCHESTER, MI 48307-6730
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Aug 8, 2022
$1,900,000
429 South Main LLC
Kevin Cooke
Warranty Deed
$3,900,000 · Cibc Bank USA
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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