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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Office buildings
928 10th Mile Rd Ferndale, MI 48220-3041
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1058265
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1940
Total area
10,628 SF
Lot
0.89 ac (38,768 SF)
Zoning code
ME
APN
24-25-27-204-051
UPID
US43-1058265
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
$1.08M
Blend (final)
Blend
$1.08M
Owner & transaction history
Ferndale Medical LLC · 6 yrs held
Ferndale Medical LLC
since 2019
5 recorded transactions
Zoning & alternative use
ME · Ferndale, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Print Preview
Top alternative use upside
Commercial (general)
$970,000
+48.1%
Restaurant
$970,000
+48.0%
Neighborhood: shopping center
$805,000
+22.9%
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
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
OFFICE BUILDING
$655,000
Current use
COMMERCIAL (GENERAL)
$970,000
Change: +48% · Conversion: Easy
RESTAURANT
$970,000
Change: +48% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$805,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$670,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±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
$102 / 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
$55,933
Tax year 2023
Assessed value
$1,237,380
Assessed 2024
Previous assessed
$1,157,130
+6.9% YoY
Effective rate
4.52%
On assessed value
Total market value
$2,474,760
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1940
Heating
YES
Buildings
2
Stories
1
Units
1
Total area
10,628 SF
Lot
0.89 ac (38,768 SF)
Zoning code
ME
APN
24-25-27-204-051
UPID
US43-1058265
Jurisdiction
OAKLAND
Metro division
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN DIVISION
Zoning & alternative use
ME · Ferndale, MIZoning ME · permitted uses
ME · Ferndale, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Print Preview
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$655,000
COMMERCIAL (GENERAL)
Est. value
$970,000
RESTAURANT
Est. value
$970,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$805,000
MEDICAL BUILDING
Est. value
$670,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
1940
Heating
YES
Stories
1
Buildings
2
Units
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Ferndale Medical LLC
Entity
Mailing address
6705 WING LK RD, BLOOMFIELD HILLS, MI 48301-2957
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Jan 6, 2022
—
Ferndale Medical LLC
—
Deed
related
$1,221,493 · Nicolet National Bank
Nov 15, 2019
—
Ferndale Medical LLC
2070 11 Mile Road LLC
Warranty Deed
$2,368,672 · Mbank
Oct 25, 2019
—
Ferndale Medical LLC
—
Trustees Deed
related
$2,368,672 · Mbank
Apr 17, 2017
$330,000
2070 11 Mile Road LLC
El-shaddai Missionary Baptist
Warranty Deed
—
—
—
El-shaddai Baptist Church
—
Deed Of Trust
related
$334,588 · Bank One NA
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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