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Property profile & analytics
OFF-MARKET
Estimated value
$1,930,000
Warehouses
915 Drayton St, Ferndale, MI 48220-1409
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-0924399
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Total area
18,005 SF
Lot
1.2 ac (52,272 SF)
Zoning code
II
APN
24-25-27-433-008
UPID
US43-0924399
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
$1.98M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.93M
Owner & transaction history
915 E Drayton LLC · 4 yrs held
915 E Drayton LLC
since 2022
Last sale
$1.9M
6 recorded transactions
Zoning & alternative use
II · Ferndale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.2M
+447.8%
Commercial (general)
$1.6M
+183.4%
Restaurant
$1.6M
+183.2%
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 Ferndale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ferndale 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
$1,990,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,140,000
6.5%
$1,975,000
7%
$1,835,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,175,000
Change: +448% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,645,000
Change: +183% · Conversion: Difficult
RESTAURANT
$1,645,000
Change: +183% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,365,000
Change: +135% · Conversion: Moderate
Blend value · Realmo final
$1.93M
Range $1.74M – $2.12M · ±10% · vs last sale $1.88M (Feb 23 2022)
Last sale anchor
$1.88M
Feb 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
$107 / 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
$32,384
Tax year 2023
Assessed value
$544,180
Assessed 2024
Previous assessed
$467,290
+16.5% YoY
Effective rate
5.95%
On assessed value
Total market value
$1,088,360
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Heating
NONE
Buildings
3
Stories
1
Units
1
Total area
18,005 SF
Lot
1.2 ac (52,272 SF)
Zoning code
II
APN
24-25-27-433-008
UPID
US43-0924399
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
II · Ferndale, MI
Zoning II · permitted uses
II · Ferndale, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ferndale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.2M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RESTAURANT
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
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
1950
Heating
NONE
Stories
1
Buildings
3
Units
1
Lot
1.2 ac
Current owner
From public records · entity-resolved
915 E Drayton LLC
Entity
Mailing address
915 E DRAYTON ST STE #200, FERNDALE, MI 48220-1409
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2025
—
915 E Drayton LLC
—
Deed
related
$2,240,000 · The Huntington National Bank
May 3, 2022
—
915 E Drayton LLC
—
Deed
related
$1,500,000 · The Huntington National Bank
Feb 23, 2022
$1,875,000
915 E Drayton LLC
Ashleyawebb Investments LLC
Warranty Deed
—
Apr 20, 2021
—
Ashley & Webb Investments LLC
—
Deed
related
$750,000 · The Huntington National Bank
—
—
Ashley & Webb Investment LLC
—
Deed Of Trust
related
$140,000 · Lasalle Bank Midwest NA
—
—
Ashley & Webb Investments LLC
—
Deed Of Trust
related
$630,000 · Standard Federal Bank
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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