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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Retail space
8650 9th Mile Rd, Oak Park, MI 48237-2320
Individually Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-1075612
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1961
Total area
9,358 SF
Lot
0.51 ac (22,216 SF)
Zoning code
B-1
APN
52-25-28-353-017
UPID
US43-1075612
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
$633k
Blend (final)
Blend
$965k
Owner & transaction history
John B Cissell · 20 yrs held
John B Cissell
since 2006
2 recorded transactions
Zoning & alternative use
B-1 · Oak Park, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$855,000
+32.1%
Restaurant
$855,000
+32.1%
Industrial (general)
$775,000
+19.5%
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 Oak Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oak Park 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
RETAIL STORES
$645,000
Current use
COMMERCIAL (GENERAL)
$855,000
Change: +32% · Conversion: Easy
RESTAURANT
$855,000
Change: +32% · Conversion: Easy
INDUSTRIAL (GENERAL)
$775,000
Change: +19% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$710,000
Change: +10% · Conversion: Moderate
MEDICAL BUILDING
$590,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$103 / 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
$12,749
Tax year 2023
Assessed value
$246,300
Assessed 2024
Previous assessed
$226,300
+8.8% YoY
Effective rate
5.18%
On assessed value
Assessed land
$52,900
Assessed improvement
$193,400
Land market value
$105,800
Improvement market value
$386,800
Total market value
$492,600
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
9,358 SF
Lot
0.51 ac (22,216 SF)
Zoning code
B-1
APN
52-25-28-353-017
UPID
US43-1075612
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Oak Park, MI
Zoning B-1 · permitted uses
B-1 · Oak Park, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Oak Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$645,000
COMMERCIAL (GENERAL)
Est. value
$855,000
RESTAURANT
Est. value
$855,000
INDUSTRIAL (GENERAL)
Est. value
$775,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$710,000
MEDICAL BUILDING
Est. value
$590,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1961
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
John B Cissell
Individual
Free & Clear · 20 yrs held
Mailing address
921 W DRAYTON ST, FERNDALE, MI 48220-2762
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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 24, 2006
—
John B Cissell
Cissell,patricia L
Quit Claim Deed
related
—
Apr 26, 2006
—
John B Cissell Properties LLC
Cissell,john B
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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