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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Turn key restaurants
51 Broadway St, Lake Orion, MI 48362-3101
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-2083448
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1950
Total area
4,678 SF
Lot
0.15 ac (6,534 SF)
Zoning code
BI
APN
OL-09-02-476-013
UPID
US43-2083448
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
-
Fork n' Pint Lake Orion Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$593k
Blend (final)
Blend
$530k
Owner & transaction history
Lake Orion Holdings LLC · 8 yrs held
Lake Orion Holdings LLC
since 2017
4 recorded transactions
Zoning & alternative use
BI · Lake Orion, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$825,000
+1.8%
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 Lake Orion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Orion 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
RESTAURANT
$810,000
Current use
COMMERCIAL (GENERAL)
$825,000
Change: +2% · Conversion: Easy
RETAIL STORES
$790,000
Change: -2% · Conversion: Easy
MEDICAL BUILDING
$740,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$113 / 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
$14,488
Tax year 2023
Assessed value
$330,790
Assessed 2024
Previous assessed
$324,520
+1.9% YoY
Effective rate
4.38%
On assessed value
Total market value
$661,580
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1950
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
4,678 SF
Lot
0.15 ac (6,534 SF)
Zoning code
BI
APN
OL-09-02-476-013
UPID
US43-2083448
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
BI · Lake Orion, MI
Zoning BI · permitted uses
BI · Lake Orion, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Orion. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$810,000
COMMERCIAL (GENERAL)
Est. value
$825,000
RETAIL STORES
Est. value
$790,000
MEDICAL BUILDING
Est. value
$740,000
RESTAURANT Current
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
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
1950
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Lake Orion Holdings LLC
Entity
Mailing address
2438 KINGSBURY DR, TROY, MI 48098-4292
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2017
—
Lake Orion Holdings LLC
Downtown Dev Authority
Warranty Deed
$485,000 · Pj & T LLC
Sep 20, 2011
$499,000
Downtown Dev Authority Of Village
K & H Investments LLC
Warranty Deed
—
Nov 27, 2006
—
K & H Investments LLC
Lake Orion Downtown Dev
Grant Deed
—
Nov 22, 2006
$185,000
K & H Investments LLC
Chw & Assocs Consultants INC
Warranty 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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