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Property profile & analytics
OFF-MARKET
Estimated value
$745,000
Flex space
54191 Gratiot Ave, Chesterfield, MI 48051-1720
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-1532471
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2021
Total area
10,080 SF
Lot
19.14 ac (833,782 SF)
Zoning code
M2 GEN
APN
15-09-09-151-006
UPID
US43-1532471
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
$835k
Comparable Approach
Comparable
$960k
Blend (final)
Blend
$745k
Owner & transaction history
County Of Macomb · 6 yrs held
County Of Macomb
since 2020
Last sale
$555,000
4 recorded transactions
Zoning & alternative use
M2 GEN · Chesterfield, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+66.2%
Commercial (general)
$1.0M
+39.1%
Office building
$955,000
+28.3%
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
$615,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$905,000
6.5%
$835,000
7%
$775,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$745,000
Current use
MEDICAL BUILDING
$1,240,000
Change: +66% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,035,000
Change: +39% · Conversion: Difficult
OFFICE BUILDING
$955,000
Change: +28% · Conversion: Difficult
AUTO REPAIR, GARAGE
$865,000
Change: +16% · Conversion: Easy
WAREHOUSE, STORAGE
$680,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$745k
Range $671k – $820k · ±10% · vs last sale $555k (Jan 2 2020)
Last sale anchor
$555k
Jan 2 2020
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
$74 / 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
$18,792
Tax year 2022
Assessed value
$903,400
Assessed 2023
Previous assessed
$408,200
+121.3% YoY
Effective rate
2.08%
On assessed value
Total market value
$1,806,800
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2021
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
10,080 SF
Lot
19.14 ac (833,782 SF)
Zoning code
M2 GEN
APN
15-09-09-151-006
UPID
US43-1532471
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
M2 GEN · Chesterfield, MI
Zoning M2 GEN · permitted uses
M2 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
INDUSTRIAL (GENERAL) Current
Est. value
$745,000
MEDICAL BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING
Est. value
$955,000
AUTO REPAIR, GARAGE
Est. value
$865,000
WAREHOUSE, STORAGE
Est. value
$680,000
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
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
2021
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
19.14 ac
Current owner
From public records · entity-resolved
County Of Macomb
Entity
Free & Clear · 6 yrs held
Mailing address
54525 GRATIOT AVE, CHESTERFIELD, MI 48051-1725
Ownership since
2020
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
Jan 10, 2024
—
Preferred Land LLC
—
Deed
related
$1,500,000 · First State Bank
Jan 2, 2020
—
County Of Macomb
Preferred Land LLC
Quit Claim Deed
related
—
Nov 25, 2015
$555,000
Preferred Land LLC
The William C Volkening Revocable T
Warranty Deed
$364,000 · First State Bank
Nov 25, 2015
—
Volkening,william C Trust
Volkening,william C
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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