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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Industrial properties
100 Applewood Dr, Sparta, MI 49345-1711
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US43-0611684
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Total area
12,768 SF
Lot
3.88 ac (169,013 SF)
Zoning code
VLI
APN
41-05-22-130-005
UPID
US43-0611684
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
-
michigan panel General Contractor
-
Storage Control Systems, Inc. Factory Industrial Manufacturer
-
Gas Control Systems, Inc. Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$827k
Blend (final)
Blend
$825k
Owner & transaction history
Storage100 LLC · 16 yrs held
Storage100 LLC
since 2009
7 recorded transactions
Zoning & alternative use
VLI · Sparta, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.0M
+79.1%
Office building
$980,000
+68.9%
Auto repair, garage
$790,000
+36.5%
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 Sparta submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sparta 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
INDUSTRIAL (GENERAL)
$580,000
Current use
RETAIL STORES
$1,040,000
Change: +79% · Conversion: Moderate
OFFICE BUILDING
$980,000
Change: +69% · Conversion: Difficult
AUTO REPAIR, GARAGE
$790,000
Change: +36% · Conversion: Easy
COMMERCIAL (GENERAL)
$535,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$825k
Range $743k – $908k · ±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
$65 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$1,689
Tax year 2019
Assessed value
$735,700
Assessed 2023
Previous assessed
$348,000
+111.4% YoY
Effective rate
0.23%
On assessed value
Total market value
$1,471,400
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1984
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
12,768 SF
Lot
3.88 ac (169,013 SF)
Zoning code
VLI
APN
41-05-22-130-005
UPID
US43-0611684
Jurisdiction
KENT
Zoning & alternative use
VLI · Sparta, MI
Zoning VLI · permitted uses
VLI · Sparta, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sparta. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$580,000
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING
Est. value
$980,000
AUTO REPAIR, GARAGE
Est. value
$790,000
COMMERCIAL (GENERAL)
Est. value
$535,000
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1984
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
3.88 ac
Current owner
From public records · entity-resolved
Storage100 LLC
Entity
Mailing address
PO BOX 304, SPARTA, MI 49345-0304
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2022
—
Storage100 LLC
—
Deed
related
$2,000,000 · Choiceone Bank
Oct 5, 2018
—
Storage100 LLC
—
Deed
related
$600,000 · Independent Bank
Jul 7, 2009
—
Storage100 LLC
Mercantile Bank Mtg Co LLC
Quit Claim Deed
related
$247,500 · Choice One Bank
Oct 8, 2008
—
Mercantile Bank Mortgage Co
Almena Capital LLC
Grant Deed
—
May 2, 2001
—
Almena Capital LLC
Jongekrijg,harley
Grant Deed
related
$750,000 · Founders Trust Personal Bank
—
—
Almena Capital LLC
—
Deed Of Trust
related
$820,000 · Mercantile Bank
—
—
Almena Capital LLC
—
Deed Of Trust
related
$100,000 · Founders Trust Personal Bank
—
—
Storage100 LLC
—
Deed Of Trust
related
$562,500 · Choice One 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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