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Property profile & analytics
OFF-MARKET
Retail space
639 12th Mile Rd, Madison Heights, MI 48071-2568
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-0042202
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
672 SF
Lot
0.1 ac (4,356 SF)
Zoning code
0-1 OFF
APN
44-25-12-376-017
UPID
US43-0042202
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
by Request
Owner & transaction history
Homer Land Management · 5 yrs held
Homer Land Management
since 2021
Last sale
$110,000
7 recorded transactions
Zoning & alternative use
0-1 OFF · Madison Heights, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Madison Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison Heights 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,193
Tax year 2023
Assessed value
$53,700
Assessed 2024
Previous assessed
$51,370
+4.5% YoY
Effective rate
5.95%
On assessed value
Total market value
$107,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
672 SF
Lot
0.1 ac (4,356 SF)
Zoning code
0-1 OFF
APN
44-25-12-376-017
UPID
US43-0042202
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
0-1 OFF · Madison Heights, MI
Zoning 0-1 OFF · permitted uses
0-1 OFF · Madison Heights, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison Heights. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Homer Land Management
Entity
Free & Clear · 5 yrs held
Mailing address
707 E 12TH MILE RD, MADISON HEIGHTS, MI 48071-2533
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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 14, 2021
$110,000
Homer Land Management
Clark Bailey
Warranty Deed
—
Apr 10, 2003
—
Nelda Carpenter
Wamboldt,timothy G & Tracey A
Quit Claim Deed
related
—
Mar 10, 2003
$105,000
Clark-diane Bailey
Carpenter,tr
Grant Deed
—
Mar 10, 2003
—
Carpenter,tr
Carpenter,neida
Quit Claim Deed
related
—
Jul 28, 1998
$50,000
Carpenter Trust
Leonard,edwin D
Grant Deed
$98,000 · First Federal Of Michigan
—
—
Timothy Wamboldt
—
Deed Of Trust
related
$98,497 · Peoples State Bank
—
—
Dycla Enterprises INC
—
Deed Of Trust
related
$85,105 · Bank One NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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