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Property profile & analytics
OFF-MARKET
Estimated value
$3,110,000
Flex space
50631 Russell Schmidt Blvd, Chesterfield, MI 48051-2454
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0624844
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1967
Total area
54,000 SF
Lot
6.28 ac (273,470 SF)
Zoning code
M2 GEN
APN
15-09-19-251-009
UPID
US43-0624844
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
-
Kimastle Corporation Plant #4 Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.29M
Blend (final)
Blend
$3.11M
Owner & transaction history
Elite Land Management LLC · 4 yrs held
Elite Land Management LLC
since 2021
Last sale
$2.8M
4 recorded transactions
Zoning & alternative use
M2 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.1M
+28.3%
Auto repair, garage
$4.6M
+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
$3,365,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,990,000
Current use
OFFICE BUILDING
$5,120,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,645,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$3,640,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$3.11M
Range $2.80M – $3.42M · ±10% · vs last sale $2.80M (Oct 21 2021)
Last sale anchor
$2.80M
Oct 21 2021
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
$58 / 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
$45,089
Tax year 2022
Assessed value
$944,400
Assessed 2023
Previous assessed
$870,200
+8.5% YoY
Effective rate
4.77%
On assessed value
Total market value
$1,888,800
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
1967
Heating
FORCED AIR
Stories
1
Total area
54,000 SF
Lot
6.28 ac (273,470 SF)
Zoning code
M2 GEN
APN
15-09-19-251-009
UPID
US43-0624844
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
$4.0M
OFFICE BUILDING
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.6M
WAREHOUSE, STORAGE
Est. value
$3.6M
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
1967
Heating
FORCED AIR
Stories
1
Lot
6.28 ac
Current owner
From public records · entity-resolved
Elite Land Management LLC
Entity
Mailing address
50925 RICHARD W BLVD, CHESTERFIELD, MI 48051-2489
Ownership since
2021
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
Oct 21, 2021
$2,800,000
Elite Land Management LLC
Russell Schmidt Property LLC
Warranty Deed
$2,240,000 · Pnc Bank NA
Jan 23, 2014
$1,710,000
Russell Schmidt Property LLC
50631 E Russell Schmidt LLC
Warranty Deed
—
Feb 14, 2007
—
50631 E Russell Schmidt LLC
Chesterfield Associates LP
Warranty Deed
—
—
—
Russell Schmidt Property LLC
—
Deed Of Trust
related
$873,487 · Michigan Certified Development
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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