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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Commercial real estate
48648 Grand Riv Ave, Novi, MI 48374-1227
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-0476248
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2005
Total area
3,575 SF
Lot
1.34 ac (58,370 SF)
Zoning code
B-3
APN
50-22-17-126-006
UPID
US43-0476248
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
-
PNC Bank ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$759k
Blend (final)
Blend
$725k
Owner & transaction history
Tyg El Car Wash Novi LLC
Tyg El Car Wash Novi LLC
since 2026
7 recorded transactions
Zoning & alternative use
B-3 · Novi, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$605,000
+14.1%
Medical building
$565,000
+6.7%
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
COMMERCIAL (GENERAL)
$530,000
Current use
RETAIL STORES
$605,000
Change: +14% · Conversion: Easy
MEDICAL BUILDING
$565,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$440,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$203 / 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
$27,666
Tax year 2023
Assessed value
$523,400
Assessed 2023
Previous assessed
$523,400
+0.0% YoY
Effective rate
5.29%
On assessed value
Total market value
$1,046,800
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
3,575 SF
Lot
1.34 ac (58,370 SF)
Zoning code
B-3
APN
50-22-17-126-006
UPID
US43-0476248
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Novi, MI
Zoning B-3 · permitted uses
B-3 · 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
COMMERCIAL (GENERAL) Current
Est. value
$530,000
RETAIL STORES
Est. value
$605,000
MEDICAL BUILDING
Est. value
$565,000
AUTO REPAIR, GARAGE
Est. value
$440,000
COMMERCIAL (GENERAL) Current
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
2005
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
1.34 ac
Current owner
From public records · entity-resolved
Tyg El Car Wash Novi LLC
Entity
Free & Clear · 0 yrs held
Mailing address
5201 SW 8TH ST, CORAL GABLES, FL 33134-2335
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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 21, 2026
—
Tyg El Car Wash Novi LLC
Elcar Wash Mi Novi LLC
Deed
—
Jan 5, 2026
—
El Car Wash Mid West LLC
Tyg El Carwash Novi LLC
Deed
$3,780,000 · Independent Bank
Jun 12, 2024
—
El Car Wash Mi Novi LLC
Starriee Enterprises LLC
Deed
—
Jun 7, 2024
—
Starrlee Enterprises LLC
Pnc Bank
Correction Deed
related
—
Dec 28, 2022
$1,200,000
Starrlee Enterprises LLC
Pnc Bank National Association
Deed
—
Jun 2, 2006
—
City Of Novi
National City Bank Of Midwest
Quit Claim Deed
—
Dec 13, 2004
—
Lakeside Oakland Dev LLC
Dyer Christopher
Quit Claim Deed
related
—
Dec 13, 2004
$255,000
Frank A Pellerito
Seng,martin D & Dolores I
Warranty Deed
—
Aug 8, 2000
—
Lakeside Oakland Dec LLC
Pellerito,frank A & Colleen G
Quit Claim Deed
related
—
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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