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Property profile & analytics
OFF-MARKET
Estimated value
$2,635,000
Drug stores
56805 Van Dyke Ave Shelby Township, MI 48316-5894
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US43-0485721
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Total area
14,736 SF
Lot
2 ac (87,120 SF)
Zoning code
C-3
APN
23-07-04-226-025
UPID
US43-0485721
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
-
Walgreens Pharmacy Pharmacy
-
Walgreens Pharmacy
-
FedEx OnSite Postal Service Courier Service
-
Western Union Bank Credit Union
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.63M
Blend (final)
Blend
$2.64M
Owner & transaction history
Holyoke Crossing LP · 9 yrs held
Holyoke Crossing LP
since 2017
7 recorded transactions
Zoning & alternative use
C-3 · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.1M
+15.0%
Commercial (general)
$2.0M
+12.3%
Office building
$2.0M
+12.3%
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 Shelby Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby Township 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
RETAIL STORES
$1,815,000
Current use
RESTAURANT
$2,090,000
Change: +15% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,040,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$2,040,000
Change: +12% · Conversion: Easy
MEDICAL BUILDING
$1,810,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.64M
Range $2.37M – $2.90M · ±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
$179 / 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
$51,815
Tax year 2022
Assessed value
$1,220,900
Assessed 2023
Previous assessed
$1,255,200
-2.7% YoY
Effective rate
4.24%
On assessed value
Total market value
$2,441,800
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Stories
1
Total area
14,736 SF
Lot
2 ac (87,120 SF)
Zoning code
C-3
APN
23-07-04-226-025
UPID
US43-0485721
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
C-3 · Shelby Township, MI
Zoning C-3 · permitted uses
C-3 · Shelby Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.8M
RESTAURANT
Est. value
$2.1M
COMMERCIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.8M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
2008
Heating
FORCED AIR
Stories
1
Lot
2 ac
Current owner
From public records · entity-resolved
Holyoke Crossing LP
Entity
Mailing address
104 WILMOT RD, DEERFIELD, IL 60015-5121
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2019
—
Mm 26 Mile LLC
—
Deed
related
$20,000,000 · Lake Mi Cu
Jul 25, 2017
—
Holyke Crossing LP
—
Deed
related
$5,475,000 · Peoples Bank
Jun 1, 2017
—
Holyoke Crossing LP
Agree Shelby LLC
Grant Deed
—
Oct 2, 2012
—
Agree LP
—
Deed Of Trust
related
$22,882,778 · Bank Of America
Aug 23, 2012
—
Agree LP
—
Deed Of Trust
related
$22,882,778 · Bank Of America
Jan 20, 2011
—
Agree Shelby LLC
Fourteen Corp
Grant Deed
related
—
Jun 1, 2010
$1,890,000
Fourteen Corp
Sheriff Of Macomb County
Trustees Deed
related
—
Aug 1, 2008
—
Agree
—
Deed Of Trust
related
$24,800,000 · Lasalle Bank Midwest NA
—
—
Mm 26 Mile LLC
—
Loan Modification
related
$20,000,000 · Lake Mi Cu
—
—
Modena Dev Corp
—
Deed Of Trust
related
$2,350,000 · Huntington National 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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