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Property profile & analytics
OFF-MARKET
Estimated value
$9,160,000
Hotels
8600 Wickham Rd Romulus, MI 48174-1921
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-5228469
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1988
Total area
146,883 SF
Lot
5.29 ac (230,432 SF)
Zoning code
RC-REG
APN
80 040 99 0003 713
UPID
US43-5228469
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
$9.16M
Blend (final)
Blend
$9.16M
Owner & transaction history
Romulus Suites Limited Partnership · 2 yrs held
Romulus Suites Limited Partnership
since 2023
6 recorded transactions
Zoning & alternative use
RC-REG · Romulus, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$13.8M
+51.5%
Office building
$12.9M
+41.2%
Retail stores
$12.1M
+32.2%
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 Romulus submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Romulus 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
HOTEL/MOTEL
$9,125,000
Current use
MEDICAL BUILDING
$13,830,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$12,890,000
Change: +41% · Conversion: Difficult
RETAIL STORES
$12,070,000
Change: +32% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$11,685,000
Change: +28% · Conversion: Difficult
RESTAURANT
$11,330,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$9.16M
Range $8.24M – $10.08M · ±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 2023Property tax & assessments
Tax year 2023
Tax billed
$208,438
Tax year 2023
Assessed value
$3,361,300
Assessed 2024
Previous assessed
$2,952,500
+13.8% YoY
Effective rate
6.20%
On assessed value
Total market value
$6,722,600
Applied tax rate
82,130.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1988
Heating
FORCED AIR
Buildings
4
Stories
3
Total area
146,883 SF
Lot
5.29 ac (230,432 SF)
Zoning code
RC-REG
APN
80 040 99 0003 713
UPID
US43-5228469
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
RC-REG · Romulus, MIZoning RC-REG · permitted uses
RC-REG · Romulus, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$9.1M
MEDICAL BUILDING
Est. value
$13.8M
OFFICE BUILDING
Est. value
$12.9M
RETAIL STORES
Est. value
$12.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$11.7M
RESTAURANT
Est. value
$11.3M
HOTEL/MOTEL Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1988
Heating
FORCED AIR
Stories
3
Buildings
4
Lot
5.29 ac
Current owner
From public records · entity-resolved
Romulus Suites Limited Partnership
Entity
Mailing address
1661 AARON BRENNER DR STE #200, MEMPHIS, TN 38120-1466
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2023
—
Romulus Suites Limited Partnership
—
Deed
related
$10,000 · Independent Bank
Sep 17, 2021
—
Romulus Suites Limited Partnership
—
Deed
related
—
Oct 14, 2020
—
Naples Hospitality LP
—
Deed
related
$104,300,000 · Wells Fargo Bk 2017-fl11 (ce)
Sep 14, 2017
—
Romulus Suites Limited Partnership
—
Deed
related
—
Oct 18, 2010
—
Romulus Suites LP
—
Deed Of Trust
related
$10,563,892 · Cadence Bank
—
—
Naples Hospitality LP
—
Loan Modification
related
$104,300,000 · Wells Fargo Bk 2017-fl11 (ce)
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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