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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Office buildings
10961 Chicago Dr Zeeland, MI 49464-8127
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-0423293
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
4,664 SF
Lot
4.26 ac (185,478 SF)
Zoning code
I-1
APN
70-16-23-100-082
UPID
US43-0423293
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
-
Holland Trailer Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$537k
Blend (final)
Blend
$520k
Owner & transaction history
10961 Chicago Drive LLC · 3 yrs held
10961 Chicago Drive LLC
since 2023
Last sale
$500,000
5 recorded transactions
Zoning & alternative use
I-1 · Zeeland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$690,000
+8.4%
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 Zeeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zeeland 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
$610,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$635,000
Current use
RETAIL STORES
$690,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$615,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$515,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$520k
Range $468k – $572k · ±10% · vs last sale $500k (Apr 14 2023)
Last sale anchor
$500k
Apr 14 2023
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
$111 / 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
$10,318
Tax year 2022
Assessed value
$237,700
Assessed 2023
Previous assessed
$239,100
-0.6% YoY
Effective rate
4.34%
On assessed value
Total market value
$475,400
Applied tax rate
17.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
4,664 SF
Lot
4.26 ac (185,478 SF)
Zoning code
I-1
APN
70-16-23-100-082
UPID
US43-0423293
Jurisdiction
OTTAWA
Zoning & alternative use
I-1 · Zeeland, MI
Zoning I-1 · permitted uses
I-1 · Zeeland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zeeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$635,000
RETAIL STORES
Est. value
$690,000
COMMERCIAL (GENERAL)
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$515,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
4.26 ac
Current owner
From public records · entity-resolved
10961 Chicago Drive LLC
Entity
Mailing address
3319 28TH ST SW, GRANDVILLE, MI 49418-1468
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2023
—
10961 Chicago Drive LLC
Holland Trailer Leasing INC
Warranty Deed
$480,000 · Grand River Bank
Apr 14, 2023
$500,000
Holland Trailer Leasing INC
David Rumsey
Warranty Deed
—
Jan 6, 2023
—
Grandville Trailer LLC
Holland Trailer Leasing INC
Lease
—
Dec 11, 2014
—
David & Sarah Rumsey Living Trust
David Rumsey
Intrafamily Transfer
related
—
Nov 22, 2005
—
Holland Trailer Leasing INC
The David Rumsey Declaration Of Tru
Land Contract
—
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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