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Property profile & analytics
OFF-MARKET
Commercial real estate
1005 Leffingwell NE Ave Grand Rapids, MI 49525-6438
Individually Owned
3-yr Hold
Free & Clear
Property ID
US43-1770232
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
0.7 ac (30,361 SF)
Zoning code
SD-PRD
APN
41-14-22-126-031
UPID
US43-1770232
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Spectrum Health Hospitals · 3 yrs held
Spectrum Health Hospitals
since 2023
1 recorded transaction
Zoning & alternative use
SD-PRD · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Planned Redevelopment District may be appropriate when it may be necessary or desirable to deviate from the standards in another Zone District to ensure that desirable and compatible development occurs
Zone name
Special And Planned Redevelopment District
General category
UNKNOWN
Zone area
993.52 ac
Source
Realmo
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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2021Property tax & assessments
Tax year 2021
Tax billed
$1,456
Tax year 2021
Assessed value
$1,057,000
Assessed 2023
Previous assessed
$29,300
+3,507.5% YoY
Effective rate
0.14%
On assessed value
Total market value
$2,114,000
Applied tax rate
51.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
FORCED AIR
Buildings
1
Stories
1
Bathrooms
1
Lot
0.7 ac (30,361 SF)
Zoning code
SD-PRD
APN
41-14-22-126-031
UPID
US43-1770232
Jurisdiction
KENT
Zoning & alternative use
SD-PRD · Grand Rapids, MIZoning SD-PRD · permitted uses
SD-PRD · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Planned Redevelopment District may be appropriate when it may be necessary or desirable to deviate from the standards in another Zone District to ensure that desirable and compatible development occurs
Zone name
Special And Planned Redevelopment District
General category
UNKNOWN
Zone area
993.52 ac
Source
Realmo
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Buildings
1
Bathrooms
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
Spectrum Health Hospitals
Individual
Free & Clear · 3 yrs held
Mailing address
100 MICHIGAN ST NE, GRAND RAPIDS, MI 49503-2560
Ownership since
2023
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
May 25, 2023
—
Spectrum Health Hospitals
Spectrum Health Hospitals
Intrafamily Transfer
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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