Entity Owned Property summary
AI-generated overview
This exceptional 4,800 square foot industrial property, located at 6492 WAYNE in Romulus, MI, presents a unique investment opportunity. The two-story building boasts approximately 2,400 square feet per floor. The ground floor is fully equipped and move-in ready, featuring a complete bar and kitchen, ample seating, a stage for live music, a private office, a high-quality sound system, televisions, and a security system. The upper floor is currently unfinished, offering significant potential for expansion or customization. Situated on a 0.44-acre lot, this property enjoys a prime location near the airport and surrounding businesses, ensuring high visibility and accessibility. The asking price is $400,000. A liquor license is available for an additional cost. The sale is "as is," with the seller making no repairs. The buyer is responsible for any necessary city inspections. All measurements are approximate. Land contracts and leases are not accepted. Proof of funds or pre-approval is required for showings.
Property profile
Verified
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Year built
1952
Total area
4,800 SF
Lot
0.44 ac (19,166 SF)
Zoning code
C1-LOCL
APN
80 020 02 0009 303
UPID
US43-4502366
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$355k
Owner & transaction history
since 2017
7 recorded transactions
Zoning & alternative use
C1-LOCL · Romulus, MI
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$355k
Value range
$320k – $391k
±10% around blend
Estimated value / SF
$74 / SF
Confidence
Property data
100
Market benchmarks
33
Comparable evidence
60
$320k
blend $355k
$391k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,800 SF
Lot area
0.44 ac
Year built
1952
Stories
2
APN
80 020 02 0009 303
Zoning
C1-LOCL
Assessed value
$118,400
Annual tax
$6,003
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$355k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 33 sales
$82
-10%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $74/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$118k
Move the market yield to see immediate price impact.
Value / SF
$25
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$7k
$149k
$107k
$83k
$8k
$166k
$118k
$92k
$9k
$182k
$130k
$101k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,003
Tax year 2023
Assessed value
$118,400
Assessed 2024
Previous assessed
$90,700
+30.5% YoY
Effective rate
5.07%
On assessed value
Total market value
$236,800
Applied tax rate
82,130.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Bars & Pubs
Use group
NIGHTCLUB (COCKTAIL LOUNGE)
Status
Off-Market
Year built
1952
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
4,800 SF
Lot
0.44 ac (19,166 SF)
Zoning code
C1-LOCL
APN
80 020 02 0009 303
UPID
US43-4502366
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
C1-LOCL · Romulus, MIZoning C1-LOCL · permitted uses
C1-LOCL · Romulus, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1952
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.44 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C1-LOCL
Jurisdiction
Romulus, MI
Recorded code
C1-LOCL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C1-LOCL in Romulus, MI.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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