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Property profile & analytics
OFF-MARKET
Estimated value
$1,590,000
Industrial properties
5960 2nd Ave Detroit, MI 48202-3402
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1194411
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Year built
1907
Total area
29,960 SF
Lot
0.27 ac (11,761 SF)
Zoning code
SD2
APN
02002432.
UPID
US43-1194411
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
-
Detroit Heating & Air Conditioning HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.59M
Owner & transaction history
Optima York LLC · 9 yrs held
Optima York LLC
since 2017
3 recorded transactions
Zoning & alternative use
SD2 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Transitional-Industrial District. (6) PR Parks and Recreation District. (7) W1 Waterfront-Industrial District. (8) MKT Market and Distribution District. (9) SD1 Special Development District, Small-Scale, Mixed-Use. (10) SD2 Special Development District, Mixed-Use. (11) SD4 Special Development District, Riverfront Mixed-Use. (12) SD5 Special Development Distr…
Zone name
Special Development District And Mixed Use
General category
MIXED_USE
Zone area
391.73 ac
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$2.3M
+88.6%
Retail stores
$2.1M
+72.0%
Medical building
$1.9M
+56.8%
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 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
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,205,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,270,000
Change: +89% · Conversion: Difficult
RETAIL STORES
$2,070,000
Change: +72% · Conversion: Moderate
MEDICAL BUILDING
$1,890,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$1,845,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$1.59M
Range $1.43M – $1.75M · ±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
$53 / 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
$12,666
Tax year 2023
Assessed value
$600,500
Assessed 2024
Previous assessed
$600,500
+0.0% YoY
Effective rate
2.11%
On assessed value
Total market value
$1,201,000
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
Industrial properties
Use group
INDUSTRIAL LOFT BUILDING
Status
Off-Market
Year built
1907
Heating
FORCED AIR
Buildings
2
Stories
3
Total area
29,960 SF
Lot
0.27 ac (11,761 SF)
Zoning code
SD2
APN
02002432.
UPID
US43-1194411
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
SD2 · Detroit, MIZoning SD2 · permitted uses
SD2 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Transitional-Industrial District. (6) PR Parks and Recreation District. (7) W1 Waterfront-Industrial District. (8) MKT Market and Distribution District. (9) SD1 Special Development District, Small-Scale, Mixed-Use. (10) SD2 Special Development District, Mixed-Use. (11) SD4 Special Development District, Riverfront Mixed-Use. (12) SD5 Special Development District, Casinos. (Code 1984, § 61-7-5; Ord. No. 11-05, § 1(61-7-5), eff. 5-28-2005; Or
Zone name
Special Development District And Mixed Use
General category
MIXED_USE
Zone area
391.73 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.3M
RETAIL STORES
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.8M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
MEDICAL BUILDING
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
1907
Heating
FORCED AIR
Stories
3
Buildings
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Optima York LLC
Entity
Free & Clear · 9 yrs held
Mailing address
400 W 4TH ST STE #350, ROYAL OAK, MI 48067-3063
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 28, 2017
—
Optima York LLC
York Second Detroit LLC
Quit Claim Deed
related
—
Nov 11, 2014
—
York Second Detroit LLC
Detroit Safety Furnace Pipe Co
Quit Claim Deed
related
—
Jan 27, 2014
$39,500
Detroit Safety Furnace Pipe Co
St Johns Church Of Detroit
Warranty 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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