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Property profile & analytics
OFF-MARKET
Estimated value
$2,885,000
Flex space
48000 Structural Dr, Chesterfield, MI 48051-2629
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-1702598
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1990
Total area
47,422 SF
Lot
7.64 ac (332,755 SF)
Zoning code
M2 GEN
APN
15-09-30-151-028
UPID
US43-1702598
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
-
Utica Steel Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.94M
Comparable Approach
Comparable
$3.34M
Blend (final)
Blend
$2.89M
Owner & transaction history
Michigan Certified Development Corp · 3 yrs held
Michigan Certified Development Corp
since 2022
Last sale
$2.4M
6 recorded transactions
Zoning & alternative use
M2 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.5M
+28.3%
Auto repair, garage
$4.1M
+16.4%
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 Chesterfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chesterfield 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
$2,010,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,260,000
6.5%
$3,935,000
7%
$3,655,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,505,000
Current use
OFFICE BUILDING
$4,495,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,080,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$3,200,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$2.89M
Range $2.60M – $3.17M · ±10% · vs last sale $2.35M (Aug 24 2022)
Last sale anchor
$2.35M
Aug 24 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
$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 2022Property tax & assessments
Tax year 2022
Tax billed
$67,122
Tax year 2022
Assessed value
$1,337,700
Assessed 2023
Previous assessed
$1,293,500
+3.4% YoY
Effective rate
5.02%
On assessed value
Total market value
$2,675,400
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Stories
1
Total area
47,422 SF
Lot
7.64 ac (332,755 SF)
Zoning code
M2 GEN
APN
15-09-30-151-028
UPID
US43-1702598
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M2 GEN · Chesterfield, MI
Zoning M2 GEN · permitted uses
M2 GEN · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chesterfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$3.5M
OFFICE BUILDING
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.1M
WAREHOUSE, STORAGE
Est. value
$3.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1990
Heating
FORCED AIR
Stories
1
Lot
7.64 ac
Current owner
From public records · entity-resolved
Michigan Certified Development Corp
Entity
Mailing address
48000 STRUCTURAL DR, CHESTERFIELD, MI 48051-2629
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2022
—
Michigan Certified Development Corp
Utica Steel INC
Assignment Of Lease (leasehold Sale)
$1,163,000 · Michigan Certified Development Corporati
Aug 24, 2022
$2,350,000
Phenix Investments LLC
Ivest Holdings LLC
Warranty Deed
$2,260,000 · First State Bank
Nov 29, 2021
—
Phenix Investments LLC
Ivest Holdings LLC
Land Contract
—
Mar 21, 2018
—
Ivest Holdings LLC
Lester Thomas H Living Trust
Warranty Deed
—
Mar 16, 2018
—
Lester,thomas H Living Trust
Hallmark Dev Co LLC
Warranty Deed
related
—
May 14, 2010
—
Hallmark Dev Co LP
—
Deed Of Trust
related
$2,000,000 · Bank Of America
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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