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Property profile & analytics
OFF-MARKET
Estimated value
$1,360,000
Retail space
8900 Macomb St, Grosse Ile, MI 48138-1577
Entity Owned
11-yr Hold
Free & Clear
Property ID
US43-1472763
Property summary
AI-generated overview
Exceptional investment opportunity: a fee-simple, 10,704 square-foot CVS Pharmacy in Grosse Ile Township, Michigan. This Class B, single-tenant net-lease property boasts a strong 6.25% cap rate and a substantial net operating income (NOI) of $149,856. Built in 2004, the property sits on a 0.75-acre lot with 30 parking spaces and features a 100% occupancy rate with a remaining lease term of 3.4 years. The property benefits from rent bumps and is situated in a highly desirable, affluent area known for its country clubs and marinas. The location offers a high barrier to entry due to strict zoning regulations, contributing to potential property appreciation. This is a rare opportunity to acquire a well-performing asset in a prime location with zero competition, priced below replacement cost. The property is zoned MSD and has a long history of pharmacy operation at this location. This NNN investment offers a secure and profitable addition to any portfolio. The asking price is $2,397,696.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Total area
10,965 SF
Lot
0.75 ac (32,670 SF)
Zoning code
MSD
APN
73 029 01 0037 301
UPID
US43-1472763
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
$1.36M
Blend (final)
Blend
$1.36M
Owner & transaction history
Eli Holdings LLC · 11 yrs held
Eli Holdings LLC
since 2015
2 recorded transactions
Zoning & alternative use
MSD · Grosse Ile, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+44.2%
Restaurant
$1.1M
+36.0%
Office building
$1.1M
+27.5%
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 Grosse Ile submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grosse Ile 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
$835,000
Current use
COMMERCIAL (GENERAL)
$1,205,000
Change: +44% · Conversion: Easy
RESTAURANT
$1,135,000
Change: +36% · Conversion: Easy
OFFICE BUILDING
$1,065,000
Change: +28% · Conversion: Easy
MEDICAL BUILDING
$1,035,000
Change: +24% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Change: +4% · Conversion: Moderate
Blend value · Realmo final
$1.36M
Range $1.22M – $1.50M · ±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
$124 / 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
$34,416
Tax year 2023
Assessed value
$696,100
Assessed 2024
Previous assessed
$666,600
+4.4% YoY
Effective rate
4.94%
On assessed value
Total market value
$1,392,200
Applied tax rate
82,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2004
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
1
Total area
10,965 SF
Lot
0.75 ac (32,670 SF)
Zoning code
MSD
APN
73 029 01 0037 301
UPID
US43-1472763
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
MSD · Grosse Ile, MI
Zoning MSD · permitted uses
MSD · Grosse Ile, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grosse Ile. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$835,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$870,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2004
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Eli Holdings LLC
Entity
Free & Clear · 11 yrs held
Mailing address
PO BOX 633, KEEGO HARBOR, MI 48320-0633
Ownership since
2015
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
Sep 13, 2018
—
Elj Holdings LLC
—
Deed
related
$1,000,000 · Modern Woodmen Of America
Feb 6, 2015
—
Eli Holdings LLC
Jonah LLC
Warranty 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.
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