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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Retail space
11190 Chicago Dr Zeeland, MI 49464-8800
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US43-2274283
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
12,740 SF
Lot
1.42 ac (61,681 SF)
Zoning code
C-2
APN
70-16-23-300-004
UPID
US43-2274283
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
-
El Paraiso Mexican Restaurant Restaurant
-
Jet's Pizza Take-out & Catering Catering Service
-
Egg Roll Express Restaurant
-
Express Island (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Sun Island and Hair Care Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$500k
Owner & transaction history
Expisland Partners LLC · 19 yrs held
Expisland Partners LLC
since 2007
1 recorded transaction
Zoning & alternative use
C-2 · Zeeland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Main Ave in 2019, sent out Request for Proposals for a 2 to 3 story mixed use building and Midwest Construction was chosen. He stated Midwest has purchased the adjacent parcel at 9 E Main Ave, both properties are zoned C-2, Central Business district meaning100% lot coverage is allowed and the City handles onsite parking. Maday explained the variance request…
Zone name
Central Business District
General category
COMMERCIAL
Zone area
21.39 ac
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
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
RETAIL STORES
$1,885,000
Current use
OFFICE BUILDING
$1,740,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,685,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$39 / 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
$25,276
Tax year 2022
Assessed value
$589,900
Assessed 2023
Previous assessed
$645,200
-8.6% YoY
Effective rate
4.28%
On assessed value
Total market value
$1,179,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
12,740 SF
Lot
1.42 ac (61,681 SF)
Zoning code
C-2
APN
70-16-23-300-004
UPID
US43-2274283
Jurisdiction
OTTAWA
Zoning & alternative use
C-2 · Zeeland, MIZoning C-2 · permitted uses
C-2 · Zeeland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Main Ave in 2019, sent out Request for Proposals for a 2 to 3 story mixed use building and Midwest Construction was chosen. He stated Midwest has purchased the adjacent parcel at 9 E Main Ave, both properties are zoned C-2, Central Business district meaning100% lot coverage is allowed and the City handles onsite parking. Maday explained the variance request is for the intersection visibility requirement, which states nothing is allowed be
Zone name
Central Business District
General category
COMMERCIAL
Zone area
21.39 ac
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
RETAIL STORES Current
OFFICE BUILDING
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
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
1.42 ac
Current owner
From public records · entity-resolved
Expisland Partners LLC
Entity
Mailing address
317 GDN AVE, HOLLAND, MI 49424-7900
Ownership since
2007
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
Mar 23, 2007
—
Expisland Partners LLC
Express Island Property LLC
Warranty Deed
$1,510,000 · The Bank Of Holland
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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