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Property profile & analytics
FOR LEASE
Medical Office Space
9934 Harper Ave Detroit, MI 48213
Entity Owned
22-yr Hold
Free & Clear
Property ID
US43-1364642
For Lease
1 / 6
$585,000
9934 Harper Ave, Detroit, MI 48213
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Property summary
AI-generated overview
Reid's Plaza, located at 9934 Harper Ave, Detroit, MI 48213, presents a unique opportunity for retail or special purpose tenants. This two-story building, situated at the highly visible southeast corner of Harper and Gratiot Avenues, offers a total of 17,700 square feet of space currently vacant and available for lease. The property is zoned B4 and is part of a thriving neighborhood shopping district. The building features two suites
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
1927
Total area
12,200 SF
Lot
0.29 ac (12,632 SF)
Zoning code
B4
APN
19001799.
UPID
US43-1364642
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
Current use
Occupant on record · Public records
-
St Paul Pharmacy Pharmacy
-
MoneyGram Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$512k
Blend (final)
Blend
$585k
Owner & transaction history
Harper Building LLC · 22 yrs held
Harper Building LLC
since 2004
1 recorded transaction
Zoning & alternative use
B4 · Detroit, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$925,000
+20.2%
Retail stores
$845,000
+9.7%
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 Detroit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Detroit 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
MEDICAL BUILDING
$770,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$925,000
Change: +20% · Conversion: Difficult
RETAIL STORES
$845,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$750,000
Change: -2% · Conversion: Easy
AUTO REPAIR, GARAGE
$740,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±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
$48 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$5,678
Tax year 2020
Assessed value
$311,100
Assessed 2024
Previous assessed
$282,300
+10.2% YoY
Effective rate
1.83%
On assessed value
Total market value
$622,200
Applied tax rate
82,010.0000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
For Lease
Year built
1927
Heating
FORCED AIR
Buildings
2
Stories
2
Total area
12,200 SF
Lot
0.29 ac (12,632 SF)
Zoning code
B4
APN
19001799.
UPID
US43-1364642
Jurisdiction
WAYNE
Metro division
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN DIVISION
Zoning & alternative use
B4 · Detroit, MI
Zoning B4 · permitted uses
B4 · Detroit, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Detroit. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$770,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$925,000
RETAIL STORES
Est. value
$845,000
OFFICE BUILDING
Est. value
$750,000
AUTO REPAIR, GARAGE
Est. value
$740,000
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1927
Heating
FORCED AIR
Stories
2
Buildings
2
Lot
0.29 ac
Current owner
From public records · entity-resolved
Harper Building LLC
Entity
Free & Clear · 22 yrs held
Mailing address
PO BOX 237, BELLEVILLE, MI 48112-0237
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2004
—
Harper Building LLC
Rk Investments INC
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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