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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Grocery and convenience stores
4530 Elizabeth Lk Rd Ste A, Waterford, MI 48328-2878
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-1700189
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2002
Total area
6,072 SF
Lot
0.56 ac (24,394 SF)
Zoning code
BI
APN
W -13-27-182-025
UPID
US43-1700189
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
$908k
Blend (final)
Blend
$910k
Owner & transaction history
Sharkia Karmo · 4 yrs held
Sharkia Karmo
since 2022
7 recorded transactions
Zoning & alternative use
BI · Waterford, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+71.6%
Restaurant
$1.1M
+69.3%
Medical building
$960,000
+54.4%
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 Waterford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterford 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
$620,000
Current use
COMMERCIAL (GENERAL)
$1,065,000
Change: +72% · Conversion: Easy
RESTAURANT
$1,050,000
Change: +69% · Conversion: Easy
MEDICAL BUILDING
$960,000
Change: +54% · Conversion: Difficult
AUTO REPAIR, GARAGE
$590,000
Change: -5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$565,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±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
$150 / 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
$12,208
Tax year 2023
Assessed value
$372,610
Assessed 2024
Previous assessed
$352,940
+5.6% YoY
Effective rate
3.28%
On assessed value
Total market value
$745,220
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
2002
Heating
YES
Stories
1
Units
1
Total area
6,072 SF
Lot
0.56 ac (24,394 SF)
Zoning code
BI
APN
W -13-27-182-025
UPID
US43-1700189
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Waterford, MI
Zoning BI · permitted uses
BI · Waterford, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waterford. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$620,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$960,000
AUTO REPAIR, GARAGE
Est. value
$590,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$565,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2002
Heating
YES
Stories
1
Units
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
Sharkia Karmo
Individual
Mailing address
4530 ELIZABETH LK RD STE A, WATERFORD, MI 48328-2878
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
Jan 25, 2022
—
Sharkia Karmo
Sharkia Karmo
Intrafamily Transfer
related
—
Aug 26, 2019
—
Sharkia Karmo
—
Deed
related
$500,000 · Community Choice Cu
Feb 14, 2018
—
Firas Karmo
—
Deed
related
—
—
—
Firas Karmo
—
Deed Of Trust
related
$345,000 · Community Choice Cu
—
—
Sharkia Karmo
—
Deed Of Trust
related
$500,000 · Community Choice Cu
—
—
Sharkia Karmo
—
Deed Of Trust
related
$25,000 · Comerica Bank
—
—
Sharkia Karmo
—
Deed Of Trust
related
$400,000 · Standard Federal Bank
—
—
Firas Karmo
—
Deed Of Trust
related
$550,000 · Comerica Bank
—
—
Sharkia Karmo
—
Deed Of Trust
related
$320,000 · Bank Of Mi
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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