Financial
Distress signals
Property profile

420 S Steele St Main Ionia, MI 48846

FOR SALE
Other commercial real estate
Property ID
US43-2258752
7,503 SF 0.8 ac lot Built 1935
Last sale Nov 2018 · $59,000
Individually Owned Owner of record is an individual. 7-yr Hold Held for 7 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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420 S Steele St,Unit Main, Ionia, MI 48846 For Sale
$275,000 7,503 SF
420 S Steele St,Unit Main, Ionia, MI 48846
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Property summary

AI-generated overview

This retail property is located on the corner of Nash Court and S Steele Street at the entrance to the downtown district of Ionia, Michigan. It is zoned B-3, providing flexibility for a range of commercial uses. The building contains approximately 15,006 square feet and sits on an approximately 0.8-acre lot. The property is associated with a marijuana dispensary license and is configured for retail-oriented operations at street level.

Ownership intelligence

Who controls the opportunity?

Resolved identity, portfolio, hold profile and investor signals. Included in the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2023

What does the county charge?
$5k
Tax billed · 2023
Assessed value$83k
Assessed land$36k
Assessed improvement$46k
Effective rate6.45%

Value estimate

· Sep 2026
$275k
$248k – $303k
AI approach$275k

Realmo valuation models over county records and 5 qualifying comparable sales.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
B-3
Itis intended to provide sites for more diversified business types that are often incompatible with the pedestrian movement in the B-1 Ne...
General categoryCOMMERCIAL
JurisdictionIONIA

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency12.8
Building Supply11.7
Wholesale Shop11.5

Location

420 S Steele St, Unit Main Ionia, MI 48846
County assessor Recorded deeds · 2 transfers 5 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

5 recorded sales · 6 properties nearby
Recent sales nearby
5 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
205 Steele, Ionia, MI 48846-2005 $200,000 Nov 2024 6,500 SF
272 Main, Ionia, MI 48846-1750 $42,000 Oct 2024 1,974 SF
2275 State Rd, Ionia, MI 48846-9503 $160,000 Sep 2024 N/A
603 Adams, Ionia, MI 48846-1774 $1,150,000 Mar 2024 11,157 SF
1015 Lincoln, Ionia, MI 48846-1442 $22,000 Oct 2018 704 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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