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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Medical Office Space
650 Griswold St, Northville, MI 48167-1666
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1720140
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2005
Total area
5,972 SF
Lot
0.56 ac (24,394 SF)
Zoning code
PR-1
APN
48 001 03 0743 306
UPID
US43-1720140
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
-
Novi Psychiatry and Psychology Medical Clinic
-
The PSYCHIATRY & PSYCHOLOGY Center Crisis Center Medical Clinic
-
Gust Jean Physician Medical Clinic
-
Therapy Medical Clinic
-
Melanie Moore Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$668k
Blend (final)
Blend
$670k
Owner & transaction history
650 Griswold LLC · 11 yrs held
650 Griswold LLC
since 2015
1 recorded transaction
Zoning & alternative use
PR-1 · Northville, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$655,000
+16.6%
Restaurant
$620,000
+10.0%
Office building
$580,000
+3.1%
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 Northville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Northville 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
MEDICAL BUILDING
$560,000
Current use
COMMERCIAL (GENERAL)
$655,000
Change: +17% · Conversion: Easy
RESTAURANT
$620,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: +3% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$475,000
Change: -16% · Conversion: Difficult
RETAIL STORES
$455,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$112 / 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
$21,918
Tax year 2023
Assessed value
$374,800
Assessed 2024
Previous assessed
$357,000
+5.0% YoY
Effective rate
5.85%
On assessed value
Total market value
$749,600
Applied tax rate
82,390.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Stories
1
Total area
5,972 SF
Lot
0.56 ac (24,394 SF)
Zoning code
PR-1
APN
48 001 03 0743 306
UPID
US43-1720140
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
PR-1 · Northville, MI
Zoning PR-1 · permitted uses
PR-1 · Northville, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Northville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$560,000
COMMERCIAL (GENERAL)
Est. value
$655,000
RESTAURANT
Est. value
$620,000
OFFICE BUILDING
Est. value
$580,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$475,000
RETAIL STORES
Est. value
$455,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
2005
Heating
FORCED AIR
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
650 Griswold LLC
Entity
Mailing address
47770 FLORENCE DR, NORTHVILLE, MI 48167-9811
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
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
Jun 16, 2015
—
650 Griswold LLC
John Jameson
Warranty Deed
$455,200 · Flagstar Bank Fsb
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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