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Property profile & analytics
OFF-MARKET
Estimated value
$1,735,000
Retail residential properties
512 Main St Royal Oak, MI 48067-1815
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1568488
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1924
Total area
10,036 SF
Lot
0.3 ac (13,024 SF)
Zoning code
NBHD BUS
APN
72-25-15-351-024
UPID
US43-1568488
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
-
Jaye Sanders, REALTOR® Real Estate Agency
-
Nextpointe Homes Real Estate Agency
-
Burn Rubber Clothing Store Shoe Store
-
H F Architecture Architect
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.77M
Blend (final)
Blend
$1.74M
Owner & transaction history
Dtro LLC · 13 yrs held
Dtro LLC
since 2012
7 recorded transactions
Zoning & alternative use
NBHD BUS · Royal Oak, 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 Royal Oak submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Royal Oak 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)
$1,895,000
Current use
RESTAURANT
$1,735,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$1,695,000
Change: -11% · Conversion: Easy
MEDICAL BUILDING
$1,585,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$1.74M
Range $1.56M – $1.91M · ±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
$173 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$25,271
Tax year 2021
Assessed value
$681,380
Assessed 2024
Previous assessed
$436,950
+55.9% YoY
Effective rate
3.71%
On assessed value
Total market value
$1,362,760
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1924
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
1
Total area
10,036 SF
Lot
0.3 ac (13,024 SF)
Zoning code
NBHD BUS
APN
72-25-15-351-024
UPID
US43-1568488
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
NBHD BUS · Royal Oak, MI
Zoning NBHD BUS · permitted uses
NBHD BUS · Royal Oak, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Royal Oak. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.9M
RESTAURANT
Est. value
$1.7M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1924
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Dtro LLC
Entity
Mailing address
32475 N STEPHENSON HWY, MADISON HEIGHTS, MI 48071-5521
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2023
—
32475 Stephenson LLC
—
Deed
related
$394,400 · Citizens Bank NA
Jul 9, 2020
—
Dtro LLC
—
Deed
related
$1,137,000 · Citizens Bank NA
Sep 24, 2019
—
Dtro LLC
—
Deed
related
$32,000 · Citizens Bank NA
Oct 5, 2012
$330,000
Dtro LLC
Simon Property Disposition LLC
Grant Deed
—
Jul 28, 2004
$650,000
Hershey Real Estate Mgmt LLC
Couf Herbert 1991 Trust
Warranty Deed
$1,020,000 · Bank One NA
—
—
Hershey Real Estate Mgmt LLC
—
Deed Of Trust
related
$250,000 · Peoples State Bank
—
—
Hershey R/e Management LLC
—
Deed Of Trust
related
$950,000 · Peoples State Bank
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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