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Property profile & analytics
FOR LEASE
Strip malls
8500 Woodward Ave, Detroit, MI 48202
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0842959
For Lease
1 / 15
$27 SF/Yr
8500 Woodward Ave, Detroit, MI 48202
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1973
Total area
13,068 SF
Lot
0.86 ac (37,462 SF)
Zoning code
B4
APN
01004329-31
UPID
US43-0842959
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
-
Family Dollar Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$805k
Owner & transaction history
Wofds LLC · 5 yrs held
Wofds LLC
since 2020
4 recorded transactions
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+20.5%
Restaurant
$1.2M
+20.4%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
NEIGHBORHOOD: SHOPPING CENTER
$990,000
Current use
COMMERCIAL (GENERAL)
$1,195,000
Change: +21% · Conversion: Easy
RESTAURANT
$1,190,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$905,000
Change: -9% · Conversion: Easy
MEDICAL BUILDING
$825,000
Change: -17% · Conversion: Difficult
OFFICE BUILDING
$805,000
Change: -19% · Conversion: Moderate
AUTO REPAIR, GARAGE
$790,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$62 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$25,088
Tax year 2020
Assessed value
$393,000
Assessed 2024
Previous assessed
$366,700
+7.2% YoY
Effective rate
6.38%
On assessed value
Total market value
$786,000
Applied tax rate
82,010.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1973
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
13,068 SF
Lot
0.86 ac (37,462 SF)
Zoning code
B4
APN
01004329-31
UPID
US43-0842959
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MI
Zoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$990,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$905,000
MEDICAL BUILDING
Est. value
$825,000
OFFICE BUILDING
Est. value
$805,000
AUTO REPAIR, GARAGE
Est. value
$790,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
OFFICE 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
1973
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.86 ac
Current owner
From public records · entity-resolved
Wofds LLC
Entity
Mailing address
30407 W 13TH MILE RD, FARMINGTON HILLS, MI 48334-2211
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Dec 16, 2020
—
Wofds LLC
—
Deed
related
$1,065,000 · Community Choice Cu
—
—
Wofds LLC
—
Deed Of Trust
related
$888,000 · Cornerstone Cmnty Fin'l FCU
—
—
Wofds LLC
—
Deed Of Trust
related
$5,400,000 · Hallmark Capital Group LLC
—
—
Wofds LLC
—
Deed Of Trust
related
$5,400,000 · Bci LLC
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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