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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Flex space
50556 Central Industrial Dr Shelby Township, MI 48315-3116
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-0208122
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2020
Total area
19,172 SF
Lot
1.07 ac (46,696 SF)
Zoning code
LM
APN
23-07-23-203-006
UPID
US43-0208122
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
-
Millwork, Inc. General Contractor Renovation Specialist
-
Kirkshire Design Group Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.59M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.57M
Owner & transaction history
Hazlett Properties LLC · 5 yrs held
Hazlett Properties LLC
since 2020
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
LM · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.4M
+42.2%
Medical building
$2.4M
+41.7%
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 Shelby Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby Township 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
$1,215,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,725,000
6.5%
$1,590,000
7%
$1,475,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,660,000
Current use
RETAIL STORES
$2,365,000
Change: +42% · Conversion: Moderate
MEDICAL BUILDING
$2,355,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,650,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±10% · vs last sale $1.10M (Dec 28 2020)
Last sale anchor
$1.10M
Dec 28 2020
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
$82 / 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
$30,993
Tax year 2022
Assessed value
$1,080,400
Assessed 2023
Previous assessed
$1,021,900
+5.7% YoY
Effective rate
2.87%
On assessed value
Total market value
$2,160,800
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2020
Heating
FORCED AIR
Stories
1
Total area
19,172 SF
Lot
1.07 ac (46,696 SF)
Zoning code
LM
APN
23-07-23-203-006
UPID
US43-0208122
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LM · Shelby Township, MI
Zoning LM · permitted uses
LM · Shelby Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.7M
INDUSTRIAL (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
2020
Heating
FORCED AIR
Stories
1
Lot
1.07 ac
Current owner
From public records · entity-resolved
Hazlett Properties LLC
Entity
Mailing address
50556 CENTRAL INDUSTRIAL DR, SHELBY TOWNSHIP, MI 48315-3116
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2020
$1,100,000
Hazlett Properties LLC
C & D Building LLC
Warranty Deed
$300,000 · Flagstar Bank Fsb
Apr 3, 2020
—
Simon Land Dev Group LLC
—
Deed
related
$100,000 · North Coast Capital Corp
Feb 12, 2015
$120,000
C & D Building LLC
Grund Brenda
Warranty Deed
—
—
—
Simon Land Dev Group LLC
—
Deed Of Trust
related
$100,000 · North Coast Capital Corp
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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