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Property profile & analytics
OFF-MARKET
Estimated value
$5,965,000
Specialty properties
50700 Gratiot Ave Chesterfield, MI 48051-3131
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-0763386
Property profile
Verified
Property type
Specialty properties
Use group
COMMERCIAL MISC
Year built
1979
Total area
35,009 SF
Lot
18 ac (784,167 SF)
Zoning code
RETAIL 5K SF+
APN
15-09-20-126-017
UPID
US43-0763386
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
-
Hobby Lobby (Bike/Boat/Book/etc) Store
-
Yvonne Y. Burch, RPh Pharmacy
-
William P. Kiley Jr, Registered Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.60M
Blend (final)
Blend
$5.97M
Owner & transaction history
Ross Dress For Less INC
Ross Dress For Less INC
since 2025
1 recorded transaction
Zoning & alternative use
RETAIL 5K SF+ · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.0M
+37.9%
Medical building
$4.3M
+19.5%
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
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)
$3,600,000
Current use
RESTAURANT
$4,965,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$4,300,000
Change: +19% · Conversion: Easy
OFFICE BUILDING
$3,320,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,010,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$5.97M
Range $5.37M – $6.56M · ±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
$170 / 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
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
Specialty properties
Use group
COMMERCIAL MISC
Status
Off-Market
Year built
1979
Heating
FORCED AIR
Stories
1
Total area
35,009 SF
Lot
18 ac (784,167 SF)
Zoning code
RETAIL 5K SF+
APN
15-09-20-126-017
UPID
US43-0763386
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
RETAIL 5K SF+ · Chesterfield, MIZoning RETAIL 5K SF+ · permitted uses
RETAIL 5K SF+ · Chesterfield, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.6M
RESTAURANT
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$4.3M
OFFICE BUILDING
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.0M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
OFFICE 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
1979
Heating
FORCED AIR
Stories
1
Lot
18 ac
Current owner
From public records · entity-resolved
Ross Dress For Less INC
Entity
Free & Clear · 0 yrs held
Mailing address
6621 N SCOTTSDALE RD, SCOTTSDALE, AZ 85250-4421
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2025
—
Ross Dress For Less INC
Gratiot LLC
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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