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Property profile & analytics
OFF-MARKET
Estimated value
$2,375,000
Flex space
51214 Industrial Dr Macomb, MI 48042-4025
Entity Owned
29-yr Hold
~
Est. High Equity
Property ID
US43-0170106
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1997
Total area
25,200 SF
Lot
2.75 ac (119,746 SF)
Zoning code
M1
APN
20-08-18-326-022
UPID
US43-0170106
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
-
Praet Tool & Engineering Inc Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.37M
Blend (final)
Blend
$2.38M
Owner & transaction history
Praet Management Group INC
Praet Management Group INC
2 recorded transactions
Zoning & alternative use
M1 · Macomb, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.6M
+117.5%
Medical building
$3.1M
+88.4%
Retail stores
$2.6M
+60.0%
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
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
INDUSTRIAL (GENERAL)
$1,645,000
Current use
RESTAURANT
$3,570,000
Change: +117% · Conversion: Difficult
MEDICAL BUILDING
$3,095,000
Change: +88% · Conversion: Difficult
RETAIL STORES
$2,630,000
Change: +60% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,590,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$2,390,000
Change: +45% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,165,000
Change: +32% · Conversion: Easy
WAREHOUSE, STORAGE
$1,700,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$2.38M
Range $2.14M – $2.61M · ±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
$94 / 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
$33,305
Tax year 2022
Assessed value
$1,006,800
Assessed 2023
Previous assessed
$960,900
+4.8% YoY
Effective rate
3.31%
On assessed value
Total market value
$2,013,600
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Stories
1
Total area
25,200 SF
Lot
2.75 ac (119,746 SF)
Zoning code
M1
APN
20-08-18-326-022
UPID
US43-0170106
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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
RESTAURANT
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.1M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.7M
INDUSTRIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1997
Heating
FORCED AIR
Stories
1
Lot
2.75 ac
Current owner
From public records · entity-resolved
Praet Management Group INC
Entity
Mailing address
51214 INDUSTRIAL DR, MACOMB, MI 48042-4025
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Praet Management Group INC
—
Loan Modification
related
$400,000 · First St Bk
—
—
Praet Management Group INC
—
Deed Of Trust
related
$200,000 · First State Bank East Detroit
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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