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Property profile & analytics
OFF-MARKET
Estimated value
$255,000
Retail space
5839 Joy Rd Detroit, MI 48204-2992
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-1677750
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1947
Total area
4,152 SF
Lot
0.23 ac (10,019 SF)
Zoning code
R5
APN
16014874-6
UPID
US43-1677750
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$255k
Owner & transaction history
Kajy Building LLC · 3 yrs held
Kajy Building LLC
since 2023
7 recorded transactions
Zoning & alternative use
R5 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
dential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R3 Low Density Residential District. (4) R4 Thoroughfare Residential District. (5) R5 Medium Density Residential District. (6) R6 High Density Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-…
Zone name
Medium Density Residential District
General category
RESIDENTIAL
Zone area
1,252.64 ac
Source
code of ordinances
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
Blend value · Realmo final
$255k
Range $230k – $281k · ±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
$61 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$3,276
Tax year 2020
Assessed value
$74,200
Assessed 2024
Previous assessed
$73,800
+0.5% YoY
Effective rate
4.42%
On assessed value
Total market value
$148,400
Applied tax rate
82,010.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1947
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
4,152 SF
Lot
0.23 ac (10,019 SF)
Zoning code
R5
APN
16014874-6
UPID
US43-1677750
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
R5 · Detroit, MIZoning R5 · permitted uses
R5 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
dential districts within the City are as follows: (1) R1 Single-Family Residential District. (2) R2 Two-Family Residential District. (3) R3 Low Density Residential District. (4) R4 Thoroughfare Residential District. (5) R5 Medium Density Residential District. (6) R6 High Density Residential District. (Code 1984, § 61-7-2; Ord. No. 11-05, § 1(61-7-2), eff. 5-28-2005) Sec. 50-7-3. - Business Districts. Business districts within the City are
Zone name
Medium Density Residential District
General category
RESIDENTIAL
Zone area
1,252.64 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1947
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Kajy Building LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5839 JOY RD, DETROIT, MI 48204-2992
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Apr 20, 2023
$55,000
Kajy Building LLC
N&n Investment LLC
Quit Claim Deed
related
—
Nov 17, 2022
—
Kajy Building LLC
N&n Investment LLC
Land Contract
—
Oct 6, 2022
$42,000
N&n Investment LLC
County Of Wayne
Public Action
related
—
Feb 18, 2016
$100,000
Fadi & Emad Property LLC
Yaldo & Habbo LLC
Warranty Deed
—
Feb 18, 2016
$60,000
Kajy Building LLC
Fadi & Emad Property LLC
Warranty Deed
$60,000 · Private Individual
May 13, 2011
—
Fadi & Emad Property LLC
Yaldo & Habbo LLC
Grant Deed
—
May 12, 2009
—
Yaldo & Habbo LLC
Habbo,masoud & Judy
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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