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69475 Romeo Plank Rd, Armada, MI 48005
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Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1994
Total area
4,200 SF
Lot
15.03 ac (654,794 SF)
Zoning code
RI
APN
13-02-31-400-035
UPID
US43-1465703
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Food Processing Plant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$480k
Comparable Approach
Comparable
$487k
Blend (final)
Blend
$1.06M
Owner & transaction history
since 2023
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
RI · Armada, MI
Top alternative use upside
Medical building
$515,000
+17.7%
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.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 14 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$1.06M
Value range
$954k – $1.17M
±10% around blend
Estimated value / SF
$252 / SF
Confidence
High
14 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
100
Income certainty
100
$954k
blend $1.06M
$1.17M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,200 SF
Lot area
15.03 ac
Year built
1994
Stories
1
APN
13-02-31-400-035
Zoning
RI
Assessed value
$171,100
Annual tax
$3,803
3
Income approach: direct capitalization
Partial preview
Income approach indication
$480k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$515k
@ 6.5% CAP return
$480k
@ 7% CAP return
$445k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$3,803
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$793k
Weighted, 14 comps · high confidence
Evidence
14 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
11.7 mi away · 3,373 SF
12.0 mi away · 4,910 SF
15.4 mi away · 3,723 SF
15.4 mi away · 5,413 SF
19.6 mi away · 3,238 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.06M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 339 sales
$104
+142%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $252/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Medical Building
Gross theoretical uplift
+18%
vs current-use indication
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
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: income and sales evidence cover the value conclusion.
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.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 14 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
2.90%
Selected cap rate for this grocery and convenience stores
Derived from the Armada market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$213k *
Last sale · Aug 2023
$1.02M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.33M
Move the market yield to see immediate price impact.
Value / SF
$1,746
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
2.40%2.90%3.40%
$191k
$7.97M
$6.60M
$5.63M
$213k
$8.86M
$7.33M
$6.25M
$234k
$9.75M
$8.07M
$6.88M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
14 found
High confidence · county-verified
Closest comparable
$650k
5.5 mi · Dec 2025 · $148/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$3,803
Tax year 2022
Assessed value
$171,100
Assessed 2023
Previous assessed
$171,100
+0.0% YoY
Effective rate
2.22%
On assessed value
Total market value
$342,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Sale
Year built
1994
Heating
FORCED AIR
Stories
1
Total area
4,200 SF
Lot
15.03 ac (654,794 SF)
Zoning code
RI
APN
13-02-31-400-035
UPID
US43-1465703
Jurisdiction
MACOMB
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
RI · Armada, MIZoning RI · permitted uses
RI · Armada, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Heating
FORCED AIR
Stories
1
Lot
15.03 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
RI
Jurisdiction
Armada, MI
Recorded code
RI
Ownership Intelligence
Find the owner behind the property.
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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.
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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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