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Property profile & analytics
OFF-MARKET
Estimated value
$70,000
Office buildings
108 Michigan Ave Grass Lake, MI 49240-9188
Entity Owned
Free & Clear
Property ID
US43-1215022
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Total area
1,200 SF
Lot
0.08 ac (3,398 SF)
Zoning code
CBD
APN
002-10-32-451-004-00
UPID
US43-1215022
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
-
SBD Commercial Interiors Furniture & Home Goods
-
ERA Reardon Realty Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$70k
Owner & transaction history
K4 Property LLC
K4 Property LLC
since 2026
7 recorded transactions
Zoning & alternative use
CBD · Grass Lake, MI
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 Grass Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grass Lake 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
Blend value · Realmo final
$70k
Range $63k – $77k · ±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
$58 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$2,951
Tax year 2022
Assessed value
$57,300
Assessed 2023
Previous assessed
$56,000
+2.3% YoY
Effective rate
5.15%
On assessed value
Total market value
$114,600
Applied tax rate
44.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1950
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
1,200 SF
Lot
0.08 ac (3,398 SF)
Zoning code
CBD
APN
002-10-32-451-004-00
UPID
US43-1215022
Jurisdiction
JACKSON
Zoning & alternative use
CBD · Grass Lake, MIZoning CBD · permitted uses
CBD · Grass Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CHAPTER 154: ZONING CODE
Building & site characteristics
From public records
Year built
1950
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
K4 Property LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 857, GRASS LAKE, MI 49240-0857
Ownership since
2026
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
Feb 26, 2026
$270,000
K4 Property LLC
Douglas D Mckillop
Warranty Deed
—
Jan 20, 2026
—
Mckillop Holdings LLC
—
Deed
related
$200,000 · County National Bank
Dec 28, 2023
—
Rick J Reardon
—
Deed
related
$150,000 · County National Bank
Feb 4, 2022
$180,000
Rick Reardon
Daniel James Pratt
Warranty Deed
—
Feb 4, 2022
$190,000
Daniel James Pratt
Marvin C Tessmer
Warranty Deed
—
Jul 16, 2018
$95,000
Kckillop Holdings LLC
Robert Dreyer
Warranty Deed
$76,000 · Hillsdale County National Bank
Jul 18, 2017
—
Daniel J Pratt
Djpenterprise LLC
Quitclaim Deed
related
—
—
—
Dreyer,robert Trust
—
Deed Of Trust
related
$13,923 · Village/grass Lake Downtown De
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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