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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Industrial properties
6931 23rd Mile Rd, Shelby Township, MI 48316-4411
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-1056690
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1995
Total area
4,500 SF
Lot
3.46 ac (150,805 SF)
Zoning code
LM
APN
23-07-16-451-002
UPID
US43-1056690
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
-
Raven Golf Ball Co. Golf Course (Bike/Boat/Book/etc) Store
-
Diamond Shine Concrete Polishing Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$515k
Owner & transaction history
Adragna Properties LLC · 1 yrs held
Adragna Properties LLC
since 2025
2 recorded transactions
Zoning & alternative use
LM · Shelby Township, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$625,000
+59.3%
Office building
$625,000
+59.2%
Retail stores
$555,000
+41.8%
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 Shelby Township submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelby Township 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)
$390,000
Current use
COMMERCIAL (GENERAL)
$625,000
Change: +59% · Conversion: Difficult
OFFICE BUILDING
$625,000
Change: +59% · Conversion: Difficult
RETAIL STORES
$555,000
Change: +42% · Conversion: Moderate
MEDICAL BUILDING
$555,000
Change: +41% · Conversion: Difficult
AUTO REPAIR, GARAGE
$385,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$114 / 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
$8,790
Tax year 2022
Assessed value
$279,300
Assessed 2023
Previous assessed
$265,600
+5.2% YoY
Effective rate
3.15%
On assessed value
Total market value
$558,600
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1995
Heating
FORCED AIR
Stories
1
Total area
4,500 SF
Lot
3.46 ac (150,805 SF)
Zoning code
LM
APN
23-07-16-451-002
UPID
US43-1056690
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
LM · Shelby Township, MI
Zoning LM · permitted uses
LM · Shelby Township, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Shelby Township. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$390,000
COMMERCIAL (GENERAL)
Est. value
$625,000
OFFICE BUILDING
Est. value
$625,000
RETAIL STORES
Est. value
$555,000
MEDICAL BUILDING
Est. value
$555,000
AUTO REPAIR, GARAGE
Est. value
$385,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1995
Heating
FORCED AIR
Stories
1
Lot
3.46 ac
Current owner
From public records · entity-resolved
Adragna Properties LLC
Entity
Free & Clear · 1 yrs held
Mailing address
6931 23RD MILE RD, SHELBY TOWNSHIP, MI 48316-4411
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2025
—
Adragna Properties LLC
Jcw Property Management LLC
Deed
—
Jan 30, 2006
$775,000
Jcw Property Management LLC
Troelsen,leon K & Karin Z
Warranty Deed
$581,250 · Comerica Bank
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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