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Property profile & analytics
FOR LEASE
Grocery and convenience stores
50 N Groesbeck Hwy, Mount Clemens, MI 48043
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-4199225
For Lease
$11,890,000
50 N Groesbeck Hwy, Mount Clemens, MI 48043
View Listing →
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1966
Total area
111,138 SF
Lot
10.7 ac (466,092 SF)
Zoning code
GC
APN
05-11-10-453-086
UPID
US43-4199225
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
$12.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.89M
Owner & transaction history
Groesbeck Plaza LLC · 2 yrs held
Groesbeck Plaza LLC
since 2023
Last sale
$11.5M
3 recorded transactions
Zoning & alternative use
GC · Mount Clemens, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$15.8M
+62.2%
Medical building
$13.7M
+40.5%
Commercial (general)
$11.4M
+17.6%
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 Mount Clemens submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mount Clemens 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
$11,930,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$13,690,000
6.5%
$12,640,000
7%
$11,735,000
Alternative Use
Use
Estimation
RETAIL STORES
$9,710,000
Current use
RESTAURANT
$15,755,000
Change: +62% · Conversion: Easy
MEDICAL BUILDING
$13,650,000
Change: +41% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,425,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,560,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$11.89M
Range $10.70M – $13.08M · ±10% · vs last sale $11.50M (Jul 10 2023)
Last sale anchor
$11.50M
Jul 10 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
$107 / 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
$94,863
Tax year 2022
Assessed value
$2,150,300
Assessed 2023
Previous assessed
$2,150,300
+0.0% YoY
Effective rate
4.41%
On assessed value
Total market value
$4,300,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1966
Heating
FORCED AIR
Stories
1
Total area
111,138 SF
Lot
10.7 ac (466,092 SF)
Zoning code
GC
APN
05-11-10-453-086
UPID
US43-4199225
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
GC · Mount Clemens, MI
Zoning GC · permitted uses
GC · Mount Clemens, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Mount Clemens. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$9.7M
RESTAURANT
Est. value
$15.8M
MEDICAL BUILDING
Est. value
$13.7M
COMMERCIAL (GENERAL)
Est. value
$11.4M
AUTO REPAIR, GARAGE
Est. value
$9.6M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
1966
Heating
FORCED AIR
Stories
1
Lot
10.7 ac
Current owner
From public records · entity-resolved
Groesbeck Plaza LLC
Entity
Free & Clear · 2 yrs held
Mailing address
18800 HUBBARD DR STE #200, DEARBORN, MI 48126-2760
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2023
—
Groesbeck Plaza LLC
Yasser T Hammoud
Quit Claim Deed
related
—
Apr 10, 2019
—
Mount Group LLC
Mount Clemens Invs Grp LLC
Quit Claim Deed
related
—
May 16, 2005
$11,500,000
Mount Clemens Inv Group LLC
Mt Clemens R/e Ventures LLC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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