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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Flex space
870 Whitney Dr Lapeer, MI 48446-2565
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-4335731
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1988
Total area
9,758 SF
Lot
1.12 ac (48,657 SF)
Zoning code
I2 PLAN
APN
L21-18-101-040-00
UPID
US43-4335731
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
$850k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$815k
Owner & transaction history
Convey Warrant · 3 yrs held
Convey Warrant
since 2022
Last sale
$797,350
5 recorded transactions
Zoning & alternative use
I2 PLAN · Lapeer, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Lapeer submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lapeer 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
$685,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$995,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$755,000
Change: 0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$680,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±10% · vs last sale $797k (Aug 23 2022)
Last sale anchor
$797k
Aug 23 2022
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
$84 / 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
$6,923
Tax year 2023
Assessed value
$198,700
Assessed 2024
Previous assessed
$145,200
+36.8% YoY
Effective rate
3.48%
On assessed value
Total market value
$397,400
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1988
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
9,758 SF
Lot
1.12 ac (48,657 SF)
Zoning code
I2 PLAN
APN
L21-18-101-040-00
UPID
US43-4335731
Jurisdiction
LAPEER
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
I2 PLAN · Lapeer, MI
Zoning I2 PLAN · permitted uses
I2 PLAN · Lapeer, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lapeer. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$995,000
RETAIL STORES
Est. value
$755,000
COMMERCIAL (GENERAL)
Est. value
$680,000
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1
Buildings
1
Lot
1.12 ac
Current owner
From public records · entity-resolved
Convey Warrant
Individual
Mailing address
852 S MAPLELEAF RD, LAPEER, MI 48446-3539
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2022
—
Tjj Investments LLC
—
Deed
related
$640,000 · Financial Plus Cu
Aug 23, 2022
$797,350
Convey Warrant
Byrnes & Byrnes LLC
Warranty Deed
$640,000 · Financial Plus Cu
May 22, 2017
—
Byrnes & Byrnes LLC
Byrnes & Byrnes Co
Quit Claim Deed
related
—
May 18, 2017
—
Byrnes Byrnes LLC
—
Deed
related
$225,000 · Chemical Bk
—
—
Byrnes Byrnes LLC
—
Deed Of Trust
related
$225,000 · Chemical Bk
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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