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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Auto shops
59369 Nn Ave, Ray, MI 48096-3903
Trust Owned
13-yr Hold
Free & Clear
Property ID
US43-0883803
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1969
Total area
4,048 SF
Lot
10 ac (435,600 SF)
Zoning code
R-1
APN
21-05-25-351-002
UPID
US43-0883803
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
-
Gresham's Seasonal Services, Inc. (Macomb County) Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$513k
Blend (final)
Blend
$515k
Owner & transaction history
Gresham James & Peggy Trust · 13 yrs held
Gresham James & Peggy Trust
since 2012
1 recorded transaction
Zoning & alternative use
R-1 · Ray, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$495,000
+42.8%
Retail stores
$420,000
+21.3%
Commercial (general)
$415,000
+19.5%
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 Ray submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ray 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
AUTO REPAIR, GARAGE
$350,000
Current use
MEDICAL BUILDING
$495,000
Change: +43% · Conversion: Difficult
RETAIL STORES
$420,000
Change: +21% · Conversion: Difficult
COMMERCIAL (GENERAL)
$415,000
Change: +20% · Conversion: Moderate
OFFICE BUILDING
$385,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$127 / 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
$8,673
Tax year 2022
Assessed value
$223,700
Assessed 2023
Previous assessed
$222,600
+0.5% YoY
Effective rate
3.88%
On assessed value
Total market value
$447,400
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1969
Heating
FORCED AIR
Stories
1
Total area
4,048 SF
Lot
10 ac (435,600 SF)
Zoning code
R-1
APN
21-05-25-351-002
UPID
US43-0883803
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
R-1 · Ray, MI
Zoning R-1 · permitted uses
R-1 · Ray, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ray. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$350,000
MEDICAL BUILDING
Est. value
$495,000
RETAIL STORES
Est. value
$420,000
COMMERCIAL (GENERAL)
Est. value
$415,000
OFFICE BUILDING
Est. value
$385,000
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
RETAIL STORES
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
1969
Heating
FORCED AIR
Stories
1
Lot
10 ac
Current owner
From public records · entity-resolved
Gresham James & Peggy Trust
Trust
Free & Clear · 13 yrs held
Mailing address
18501 HENRY CT, RAY, MI 48096-3549
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2012
—
Gresham James & Peggy Trust
Gresham,james A & Peggy L
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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