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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Warehouses
46926 Magellan, Wixom, MI 48393-3699
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-5178303
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Total area
10,968 SF
Lot
1.15 ac (50,094 SF)
Zoning code
M-1
APN
96-22-09-102-002
UPID
US43-5178303
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
$1.02M
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$990k
Owner & transaction history
L Vendittelli Properties LLC · 3 yrs held
L Vendittelli Properties LLC
since 2023
Last sale
$925,000
7 recorded transactions
Zoning & alternative use
M-1 · Wixom, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+60.5%
Office building
$1.3M
+53.6%
Industrial (general)
$1.2M
+42.8%
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 Wixom submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wixom 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
$1,060,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,100,000
6.5%
$1,015,000
7%
$945,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$840,000
Current use
AUTO REPAIR, GARAGE
$1,345,000
Change: +61% · Conversion: Easy
OFFICE BUILDING
$1,285,000
Change: +54% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,195,000
Change: +43% · Conversion: Easy
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $925k (Jun 12 2023)
Last sale anchor
$925k
Jun 12 2023
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
$90 / 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
$20,101
Tax year 2023
Assessed value
$450,250
Assessed 2024
Previous assessed
$419,290
+7.4% YoY
Effective rate
4.46%
On assessed value
Total market value
$900,500
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Heating
GAS
Cooling
YES
Stories
1
Units
1
Total area
10,968 SF
Lot
1.15 ac (50,094 SF)
Zoning code
M-1
APN
96-22-09-102-002
UPID
US43-5178303
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M-1 · Wixom, MI
Zoning M-1 · permitted uses
M-1 · Wixom, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wixom. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$840,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1999
Heating
GAS
Cooling
Yes
Stories
1
Units
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
L Vendittelli Properties LLC
Entity
Mailing address
46926 MAGELLAN, WIXOM, MI 48393-3699
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Jun 12, 2023
$925,000
L Vendittelli Properties LLC
Gm Schmidt Properties LLC
Warranty Deed
$981,000 · The Huntington National Bank
Oct 4, 2021
—
L Vendittelli Properties LLC
Gm Schmidt Properties LLC
Land Contract
—
Jan 22, 2004
$710,000
Schmidt Properties
Wixom Magellan LLC
Grant Deed
$1,225,000 · Metrobank
Apr 28, 1999
$127,000
Wixom Magellan LLC
Fg 40 Corporation
Grant Deed
—
Sep 1, 1998
—
Wixom Magellan LLC
Fg 40 Corp
Grant Deed
related
—
—
—
Wixom Magellan LLC
—
Deed Of Trust
related
$434,000 · Metrobank
—
—
Schmidt Properties
—
Deed Of Trust
related
$200,000 · Carrier Family LP
—
—
Wixom Magellan LLC
—
Deed Of Trust
related
$250,000 · Metrobank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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