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Property profile & analytics
FOR SALE
Warehouses
503 Lakeville Rd Addison Twp, MI 48367
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1952456
For Sale
1 / 7
$249,999
503 Lakeville Rd, Addison Twp, MI 48367
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1920
Total area
2,629 SF
Lot
0.33 ac (14,375 SF)
Zoning code
BI
APN
A -05-27-329-002
UPID
US43-1952456
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
-
Lakeville Market and Liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$370k
Owner & transaction history
Lakeville Market & Liquor LLC · 8 yrs held
Lakeville Market & Liquor LLC
since 2017
3 recorded transactions
Zoning & alternative use
BI · Leonard, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Addison Twp submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Addison Twp 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
Blend value · Realmo final
$370k
Range $333k – $407k · ±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
$141 / 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
$7,306
Tax year 2023
Assessed value
$213,520
Assessed 2024
Previous assessed
$186,580
+14.4% YoY
Effective rate
3.42%
On assessed value
Total market value
$427,040
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Sale
Year built
1920
Heating
GAS
Buildings
6
Stories
2
Units
1
Rooms
6
Bathrooms
2
Total area
2,629 SF
Lot
0.33 ac (14,375 SF)
Zoning code
BI
APN
A -05-27-329-002
UPID
US43-1952456
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Leonard, MIZoning BI · permitted uses
BI · Leonard, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1920
Heating
GAS
Stories
2
Buildings
6
Units
1
Rooms
6
Bathrooms
2
Lot
0.33 ac
Current owner
From public records · entity-resolved
Lakeville Market & Liquor LLC
Entity
Free & Clear · 8 yrs held
Mailing address
21271 32ND MILE RD, ARMADA, MI 48005-4304
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Sep 8, 2017
$515,000
Lakeville Market & Liquor LLC
Wright,jeanne B & Jd
Warranty Deed
—
Jun 12, 2009
—
Wright J D
Wright,j D
Quit Claim Deed
related
—
Apr 7, 1999
$170,000
J D Wright
Bromley Trust
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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