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Property profile & analytics
FOR LEASE
Office buildings
843 Penniman Ave, Plymouth, MI 48170
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0386477
For Lease
1 / 10
$50 SF/Yr
843 Penniman Ave, Plymouth, MI 48170
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1923
Total area
5,122 SF
Lot
0.06 ac (2,614 SF)
Zoning code
B-2
APN
49-009-05-0133-000
UPID
US43-0386477
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
-
CrossCountry Mortgage, LLC Loan Service Bank
-
Kellen Gonda Realtor Real Estate Agency
-
Gabriella Esqueda Realtor Real Estate Agency
-
University Title Agency Title Company
-
Emily Campbell at CrossCountry Mortgage, LLC Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$784k
Blend (final)
Blend
$785k
Owner & transaction history
843 Penn Place LLC · 8 yrs held
843 Penn Place LLC
since 2018
4 recorded transactions
Zoning & alternative use
B-2 · Plymouth, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.2M
+135.1%
Commercial (general)
$565,000
+13.1%
Restaurant
$530,000
+6.6%
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 Plymouth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Plymouth 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
OFFICE BUILDING
$495,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,170,000
Change: +135% · Conversion: Easy
COMMERCIAL (GENERAL)
$565,000
Change: +13% · Conversion: Easy
RESTAURANT
$530,000
Change: +7% · Conversion: Moderate
MEDICAL BUILDING
$480,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$153 / 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
$25,152
Tax year 2023
Assessed value
$559,900
Assessed 2024
Previous assessed
$521,300
+7.4% YoY
Effective rate
4.49%
On assessed value
Total market value
$1,119,800
Applied tax rate
82,100.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1923
Heating
FORCED AIR
Stories
2
Total area
5,122 SF
Lot
0.06 ac (2,614 SF)
Zoning code
B-2
APN
49-009-05-0133-000
UPID
US43-0386477
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Plymouth, MI
Zoning B-2 · permitted uses
B-2 · Plymouth, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Plymouth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$495,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$565,000
RESTAURANT
Est. value
$530,000
MEDICAL BUILDING
Est. value
$480,000
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
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
1923
Heating
FORCED AIR
Stories
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
843 Penn Place LLC
Entity
Mailing address
13074 STONE CRK CT, PLYMOUTH, MI 48170-6537
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Sep 1, 2022
—
843 Penn Place LLC
—
Deed
related
$700,000 · Huron Valley State Bank
Feb 26, 2018
$725,000
843 Penn Place LLC
Ash Building
Warranty Deed
$750,000 · Monroe Bank & Trust
Oct 31, 2017
—
843 Penn Place LLC
Vaught,linda J
Quit Claim Deed
related
—
Mar 4, 2011
—
843 Penn Place LLC
Ash Building
Grant Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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