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Property profile & analytics
OFF-MARKET
Estimated value
$2,240,000
Drug stores
67181 Main St Richmond, MI 48062-1939
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-1552966
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2009
Total area
13,367 SF
Lot
1.22 ac (53,230 SF)
Zoning code
B-3
APN
07-06-01-451-054
UPID
US43-1552966
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
$2.24M
Blend (final)
Blend
$2.24M
Owner & transaction history
Richmond 31 LLC · 6 yrs held
Richmond 31 LLC
since 2020
4 recorded transactions
Zoning & alternative use
B-3 · Richmond, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.9M
+35.9%
Medical building
$1.6M
+17.7%
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 Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond 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
RETAIL STORES
$1,395,000
Current use
RESTAURANT
$1,895,000
Change: +36% · Conversion: Easy
MEDICAL BUILDING
$1,640,000
Change: +18% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,375,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±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
$168 / 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
$35,300
Tax year 2022
Assessed value
$851,300
Assessed 2023
Previous assessed
$833,500
+2.1% YoY
Effective rate
4.15%
On assessed value
Total market value
$1,702,600
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2009
Heating
FORCED AIR
Stories
1
Total area
13,367 SF
Lot
1.22 ac (53,230 SF)
Zoning code
B-3
APN
07-06-01-451-054
UPID
US43-1552966
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Richmond, MI
Zoning B-3 · permitted uses
B-3 · Richmond, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.4M
RESTAURANT
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.4M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2009
Heating
FORCED AIR
Stories
1
Lot
1.22 ac
Current owner
From public records · entity-resolved
Richmond 31 LLC
Entity
Mailing address
4036 TELEGRAPH RD STE #201, BLOOMFIELD HILLS, MI 48302-2073
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2020
—
Richmond 31 LLC
Clawson Cvsspe LLC
Warranty Deed
$4,434,000 · Umb Bk NA (ct)
May 9, 2011
—
Clawson Cvsspe LLC
Richmond Square LLC
Quit Claim Deed
related
$10,575,000 · Morgan Stanley Mtg Cap Holding
—
—
Richmond Square LLC
—
Deed Of Trust
related
$3,075,000 · Bank Of America
—
—
Richmond Square LLC
—
Deed Of Trust
related
$3,525,000 · Bank Of America
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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