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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Industrial properties
45033 Grand Riv Ave, Novi, MI 48375-1015
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-1110093
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1998
Total area
15,587 SF
Lot
2.23 ac (97,139 SF)
Zoning code
I-1
APN
50-22-15-351-025
UPID
US43-1110093
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
-
Exclusively Cabinets by Cabinetek Hardware & Home Improvement Kitchen & Bath Showroom
-
Direct Builder Cabinetry Hardware & Home Improvement Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$950k
Owner & transaction history
New Horizons Partnership LLC · 3 yrs held
New Horizons Partnership LLC
since 2022
7 recorded transactions
Zoning & alternative use
I-1 · Novi, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+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 Novi submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Novi 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
INDUSTRIAL (GENERAL)
$1,260,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,450,000
Change: +15% · Conversion: Difficult
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±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
$61 / 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
$22,560
Tax year 2023
Assessed value
$426,800
Assessed 2023
Previous assessed
$426,800
+0.0% YoY
Effective rate
5.29%
On assessed value
Total market value
$853,600
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 (GENERAL)
Status
Off-Market
Year built
1998
Heating
FORCED AIR
Stories
1
Total area
15,587 SF
Lot
2.23 ac (97,139 SF)
Zoning code
I-1
APN
50-22-15-351-025
UPID
US43-1110093
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I-1 · Novi, MI
Zoning I-1 · permitted uses
I-1 · Novi, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Novi. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
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
1998
Heating
FORCED AIR
Stories
1
Lot
2.23 ac
Current owner
From public records · entity-resolved
New Horizons Partnership LLC
Entity
Free & Clear · 3 yrs held
Mailing address
45033 GRAND RIV AVE, NOVI, MI 48375-1015
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2022
—
New Horizons Partnership LLC
Terry V Moore
Quit Claim Deed
related
—
Jul 29, 2022
—
New Horizon Partnership LLC
Darin S Zygner
Warranty Deed
—
Jul 28, 2022
—
Darin S Zygner
Darin S Zygner
Intrafamily Transfer
related
—
Jun 28, 2022
—
Terry V Moore
Terry V Moore
Intrafamily Transfer
related
—
Jun 27, 2022
—
Terry V Moore
Terry V Moore
Intrafamily Transfer
related
—
Sep 17, 2021
—
Terry V Moore
The Mansfield Family Living Trust
Land Contract
—
Dec 21, 2017
—
Zygner,darin S Trust
Zygner Ents INC
Quit Claim Deed
related
—
Aug 25, 2015
—
Daniel C Mansfield
Mansfield,daniel C & Pamela E
Quit Claim Deed
related
—
Nov 5, 2002
$12,300
Novi City (mi)
Mansfield,daniel C & Pamela E
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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