24-003458 Alnamer Investment Combined Files.pdf
Alnamer Investment LLC, Petitioner V City Of Detroit, Respondent · 24-003458-TT
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1 20200 Grand River Ave - Burger King Detroit, MI 48219 (Wayne County) - Detroit W of Woodward Submarket Retail Sale Summary Sold 7/12/2024 Sale Price Not Disclosed GLA 2,860 SF Built 1985 Land Area 1.18 AC/51,401 SF Sale Comp Status Public Record Sale Comp ID 6786336 Parcel Numbers 22-00794-556 Contacts Type Name Location Phone Recorded Buyer Vh Re Property Llc Troy, MI 48085 - Recorded Seller Burger King Company, LLC Miami, FL 33126 1 (905) 339-6011 Recorded Seller Burger King Company LLC - - True Seller Burger King Miami, FL 33126 (866) 394-2493 Listing Broker CBRE Southfield, MI 48075 (248) 353-5400 Contacts Scott Young (248) 342-9000, Matt Croswell (248) 207-3128, Ashley Young (248) 872-8956, Jake Vorkapich (313) 648-5872 Transaction Details Sale Date 7/12/2024 Hold Period 23 Months Sale Price Not Disclosed Recording Date 7/23/2024 Sale Type Owner User Zoning R1 Time On Market 1 Year Document Number 58986-0629 Parcel Number 22-00794-556 Assessment At Sale Assessed Year Total Assessed Improved Assessed Land Assessed % Improved Tax Amount 2024 $196,200 $0 $0 - $11,724.98 Sale History Sale Date Price Sale Type Buyer Seller 7/12/2024 Not Disclosed Owner User Vh Re Property Llc Burger King 8/22/2022 Not Disclosed Individual Property Burger King Company, LLC Burger King Corporation © 2025 CoStar Group - Licensed to City of Detroit - Office of the Assesor - 1550797 Page 1 6/4/2025
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1 20200 Grand River Ave - Burger King Detroit, MI 48219 (Wayne County) - Detroit W of Woodward Submarket Retail For Lease At Sale Number of Spaces 1 Asking Rent Withheld Smallest Space 2,700 SF CAM Withheld Max Contiguous 2,700 SF Retail Available 2,700 SF Total Available 2,700 SF Property Details Tenancy Single Building FAR 0.06 © 2025 CoStar Group - Licensed to City of Detroit - Office of the Assesor - 1550797 Page 2 6/4/2025
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2 18435 Plymouth Rd - Pizza Hut Detroit, MI 48228 (Wayne County) - Detroit W of Woodward Submarket Retail Sale Summary Sold 7/2/2024 Sale Price Not Disclosed GLA 2,793 SF Built 1986 Land Area 0.39 AC/16,988 SF Sale Comp Status Public Record Sale Comp ID 6772721 Contacts Type Name Location Phone Recorded Seller Miller Oak Investment LLC Dearborn Heights, MI 48127 (313) 837-3630 True Seller Saad, Baha Dearborn Heights, MI 48127 (313) 562-3104 Listing Broker Keller Williams Legacy Dearborn, MI 48124 (313) 752-0000 Contacts Nick Jaafar (313) 706-7011 Transaction Details Sale Date 7/2/2024 Time On Market 1 Year 3 Months Sale Price Not Disclosed Hold Period 98 Months Sale Type Investment Zoning Commercial Parcel Number 22-00526-774 Assessment At Sale Assessed Year Total Assessed Improved Assessed Land Assessed % Improved Tax Amount 2024 $0 $0 $0 - $6,485.32 Sale History Sale Date Price Sale Type Buyer Seller 7/2/2024 Not Disclosed Investment - Saad, Baha 5/13/2016 Not Disclosed Owner User Miller Oak Investment LLC American Realty Capital Properties, Inc. 7/24/2014 $8,819,553 ($367.74/SF) 7 Property Portfolio VEREIT, Inc. GE Capital Property Details Building FAR 0.16 Parking Spaces 32 Surface Spaces; Ratio of 10.00/1,000 SF Frontage 92' on Faust Ave (with 1 curb cut), 48' on Plymouth Rd (with 1 curb cut) Amenities • Corner Lot • Drive Thru • Restaurant • Signage © 2025 CoStar Group - Licensed to City of Detroit - Office of the Assesor - 1550797 Page 3 6/4/2025
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3 10340 Van Dyke St Detroit, MI 48234 (Wayne County) - Detroit E of Woodward Submarket Retail Sale Summary Sold 2/7/2023 Sale Price $80,000 ($28.57/SF) GLA (% Leased) 2,800 SF (100%) Built 1951 Land Area 0.31 AC/13,504 SF Sale Comp Status Public Record Sale Comp ID 6326227 Parcel Numbers 17-0096434 Contacts Type Name Location Phone Recorded Buyer Aurora Group Three Llc - - Recorded Seller Watson Raeonna - - Transaction Details Sale Date 2/7/2023 Recording Date 2/14/2023 Sale Price $80,000 ($28.57/SF) Zoning Commercial Land Price $258,057/AC ($5.92/SF) Document Number 58080-0796 Hold Period 38 Months Parcel Number 17-0096434 Assessment At Sale Assessed Year Total Assessed Improved Assessed Land Assessed % Improved Tax Amount 2023 $23,300 $0 $0 - $2,736.60 Sale History Sale Date Price Sale Type Buyer Seller 2/7/2023 $80,000 ($28.57/SF) Individual Property Aurora Group Three Llc Watson Raeonna 12/12/2019 $80,000 ($28.57/SF) Investment - Daniel Gersch Property Details Tenancy Single Docks None Ceiling Height 9' Building FAR 0.21 Parking Spaces 30 Surface Spaces; Ratio of 10.00/1,000 SF Frontage 71' on Van Dyke St Amenities • Bus Line • Fenced Lot © 2025 CoStar Group - Licensed to City of Detroit - Office of the Assesor - 1550797 Page 4 6/4/2025
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1 Sale Price Center Size Price per SF Actual Cap Rate Days on Market Sale Price to Asking Price Ratio - $80,000 2,793 SF $28.57 - 367 $80,000 2,818 SF $28.57 - 418 - $80,000 2,800 SF $28.57 - 418 - $80,000 2,860 SF $28.57 - 469 - 3 1 - 2 - Totals Sold Transactions $80,000 Total Sales Transactions: Total Sales Volume: 3 Survey Criteria basic criteria: Type of Property - Retail; Property Size - 2,000 - 3,000 SF; Sale Date - 12/31/2022 - 12/31/2024; Sale Status - Sold, Under Contract/Pending; Return and Search on Portfolio Sales as Individual Properties - Yes; Exclude Non-Arms Length Comps - Yes geography criteria: City - Detroit, MI Comps Statistics Count High Median Average Low Quick Stats Report © 2025 CoStar Group - Licensed to City of Detroit - Office of the Assesor - 1550797. Page 5 6/4/2025
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STATE OF MICHIGAN DEPARTMENT OF LICENSING & REGULATORY AFFAIRS MICHIGAN ADMINISTRATIVE HEARING SYSTEM MICHIGAN TAX TRIBUNAL Alnamer Investment LLC Petitioner, v MTT Docket No. 24-003458 CITY OF DETROIT, Respondent. PROOF OF SERVICE On 06/04/2025 I, Stacy Smith, E-Filed a copy of the Valuation Disclosure for this appeal to: Michigan Tax Tribunal Po Box 30232 Lansing MI, 48909 And emailed a copy to Petitioner’s Representative: Sam Miller [nassco123@yahoo.com] 26923 Havelock Dearborn Heights, MI 48127 I declare that the statement above is true to the best of my information, knowledge, and belief. Dated: 6/4/2025 Signature Stacy Smith Stacy Smith Appraiser III Coleman A. Young Municipal Center 2 Woodward Ave., Suite 804 Detroit, Michigan 48226