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OFF-MARKET
Industrial properties
51096 Milano Dr, Macomb, MI 48042-4018
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-0151247
Property summary
AI-generated overview
This 1,680-square-foot industrial condo unit in Macomb, Michigan, is offered for sale at $420,000. Located at 51096 Milano Dr, Macomb, MI 48042 (APN 20-08-18-453-004), this property is zoned M1, suitable for general industrial and warehouse uses. Built in 1994, the single-unit building features a 12' x 14' grade-level door and 3-phase power. The sale includes an existing municipal-approved cannabis cultivation facility and all associated equipment. Convenient freeway access is a key advantage. Detailed mechanical, electrical, and plumbing plans, along with floor plans, are available upon request. This owner-user investment opportunity boasts 23 Mile Road frontage, making it an ideal location for various industrial applications. The property is classified as a distribution, manufacturing, and warehouse space.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1994
Total area
1,680 SF
Lot
0.12 ac (5,271 SF)
Zoning code
M1
APN
20-08-18-453-004
UPID
US43-0151247
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Gpb Logistics LLC · 1 yrs held
Gpb Logistics LLC
since 2025
Last sale
$295,000
4 recorded transactions
Zoning & alternative use
M1 · Macomb, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Macomb submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Macomb submarket · NOI estimate · typical band, median & reading
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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)
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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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,923
Tax year 2022
Assessed value
$98,400
Assessed 2023
Previous assessed
$97,300
+1.1% YoY
Effective rate
5.00%
On assessed value
Total market value
$196,800
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1994
Heating
FORCED AIR
Stories
1
Total area
1,680 SF
Lot
0.12 ac (5,271 SF)
Zoning code
M1
APN
20-08-18-453-004
UPID
US43-0151247
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M1 · Macomb, MI
Zoning M1 · permitted uses
M1 · Macomb, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Macomb. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1994
Heating
FORCED AIR
Stories
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Gpb Logistics LLC
Entity
Mailing address
16357 FRST WAY, MACOMB, MI 48042-2352
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2025
$295,000
Gpb Logistics LLC
Robert Pasho
Warranty Deed
$236,000 · Jackson Flagstar Centre Office
Sep 3, 2021
$255,000
Robert Pasho
Invproperties LLC
Warranty Deed
—
Jun 29, 2016
$141,500
Invproperties LLC
Maltese Investments LLC
Warranty Deed
—
Jul 13, 2012
—
Maltese Investments LLC
Maltese,carmello D & Judy R
Quit Claim Deed
related
—
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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