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Property profile & analytics
OFF-MARKET
Estimated value
$16,950,000
Commercial real estate
50700 Gratiot Ave, Chesterfield, MI 48051-3131
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-4200361
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1979
Total area
167,281 SF
Lot
16.12 ac (702,187 SF)
Zoning code
C3 GEN
APN
15-09-20-126-023
UPID
US43-4200361
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
$16.95M
Blend (final)
Blend
$16.95M
Owner & transaction history
Bacm 2006-4 Gratiot Avenue LLC · 13 yrs held
Bacm 2006-4 Gratiot Avenue LLC
since 2012
5 recorded transactions
Zoning & alternative use
C3 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$23.7M
+37.9%
Medical building
$20.5M
+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)
$17,195,000
Current use
RESTAURANT
$23,715,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$20,545,000
Change: +19% · Conversion: Easy
OFFICE BUILDING
$15,860,000
Change: -8% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,390,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$16.95M
Range $15.26M – $18.65M · ±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
$101 / 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
$201,089
Tax year 2022
Assessed value
$6,364,400
Assessed 2023
Previous assessed
$6,056,600
+5.1% YoY
Effective rate
3.16%
On assessed value
Total market value
$12,728,800
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1979
Heating
FORCED AIR
Stories
1
Total area
167,281 SF
Lot
16.12 ac (702,187 SF)
Zoning code
C3 GEN
APN
15-09-20-126-023
UPID
US43-4200361
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C3 GEN · Chesterfield, MI
Zoning C3 GEN · permitted uses
C3 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
COMMERCIAL (GENERAL) Current
Est. value
$17.2M
RESTAURANT
Est. value
$23.7M
MEDICAL BUILDING
Est. value
$20.5M
OFFICE BUILDING
Est. value
$15.9M
AUTO REPAIR, GARAGE
Est. value
$14.4M
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
16.12 ac
Current owner
From public records · entity-resolved
Bacm 2006-4 Gratiot Avenue LLC
Entity
Free & Clear · 13 yrs held
Mailing address
8300 N HAYDEN RD STE A200, SCOTTSDALE, AZ 85258-2481
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2012
—
Bacm 2006-4 Gratiot Avenue LLC
Rlv Gratiot Crossing LP
Deed In Lieu Of Foreclosure
related
—
Dec 22, 2005
—
Gratiot Crossing Holdings
Gratiot Crossing Assocs LLC
Quit Claim Deed
related
—
Feb 23, 2005
—
Gratiot Crossing Assocs LLC
—
Trustees Deed
related
$16,180,000 · Fifth Third Bk/ctrl
—
—
Gratiot LLC
—
Deed Of Trust
related
$11,150,000 · Citigroup Global Markets Rlty
—
—
Rlv Gratiot Crossing
—
Deed Of Trust
related
$13,500,000 · Deutsche Bk Mtg Cap
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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