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Property profile & analytics
OFF-MARKET
Estimated value
$1,800,000
Grocery and convenience stores
5650 Merriman Rd, Wayne, MI 48184-2262
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0661514
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1986
Total area
9,045 SF
Lot
0.53 ac (23,087 SF)
APN
55 024 99 0025 002
UPID
US43-0661514
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
$1.80M
CAP Approach
CAP
$1.32M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.80M
Owner & transaction history
Merriman Center LLC · 2 yrs held
Merriman Center LLC
since 2024
Last sale
$1.8M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+138.9%
Apartment house (5+ units)
$2.1M
+112.7%
Commercial (general)
$1.5M
+55.8%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$1,800,000
ML approach
$1,800,000
CAP Approach
CAP Return
Estimation
6%
$1,430,000
6.5%
$1,320,000
7%
$1,225,000
Alternative Use
Use
Estimation
RESTAURANT
$2,320,000
Change: +139% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,065,000
Change: +113% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,515,000
Change: +56% · Conversion: Easy
OFFICE BUILDING
$1,205,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$1.80M
Range $1.62M – $1.98M · ±10% · vs last sale $1.80M (Jan 9 2024)
Last sale anchor
$1.80M
Jan 9 2024
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
$199 / 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
$13,709
Tax year 2023
Assessed value
$230,400
Assessed 2024
Previous assessed
$213,200
+8.1% YoY
Effective rate
5.95%
On assessed value
Total market value
$460,800
Applied tax rate
82,160.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1986
Heating
FORCED AIR
Stories
1
Total area
9,045 SF
Lot
0.53 ac (23,087 SF)
APN
55 024 99 0025 002
UPID
US43-0661514
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE 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
1986
Heating
FORCED AIR
Stories
1
Lot
0.53 ac
Current owner
From public records · entity-resolved
Merriman Center LLC
Entity
Mailing address
5750 S MERRIMAN RD, WAYNE, MI 48184-2288
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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 9, 2024
$1,800,000
Merriman Center LLC
Merriman Van Born Plaza LLC
Warranty Deed
$1,350,000 · Genisys Cu
May 3, 2022
—
Merriman Vanborn Plaza LLC
—
Deed
related
$720,000 · Horizon Bank
Mar 17, 2017
—
Merriman Vanborn Plaza LLC
—
Deed
related
$775,000 · Community Choice Cu
—
—
Merriman Vanborn Plaza LLC
—
Deed Of Trust
related
$775,000 · Community Choice Cu
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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