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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Warehouses
11363 3rd NW Ave, Grand Rapids, MI 49534-3582
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-2700797
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2014
Total area
8,400 SF
Lot
1.31 ac (57,064 SF)
APN
70-10-24-400-075
UPID
US43-2700797
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
-
D3 Customs llc. Auto Repair Shop Motorcycle Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$688k
Blend (final)
Blend
$690k
Owner & transaction history
Grade Eight Properties LLC · 3 yrs held
Grade Eight Properties LLC
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+27.2%
Auto repair, garage
$930,000
+3.0%
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
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
WAREHOUSE, STORAGE
$900,000
Current use
OFFICE BUILDING
$1,145,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$930,000
Change: +3% · Conversion: Easy
COMMERCIAL (GENERAL)
$735,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$82 / 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
$8,580
Tax year 2022
Assessed value
$246,800
Assessed 2023
Previous assessed
$246,800
+0.0% YoY
Effective rate
3.48%
On assessed value
Total market value
$493,600
Applied tax rate
25.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2014
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
8,400 SF
Lot
1.31 ac (57,064 SF)
APN
70-10-24-400-075
UPID
US43-2700797
Jurisdiction
OTTAWA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$900,000
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$930,000
COMMERCIAL (GENERAL)
Est. value
$735,000
WAREHOUSE, STORAGE Current
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
2014
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.31 ac
Current owner
From public records · entity-resolved
Grade Eight Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
11331 3RD AVE NW, GRAND RAPIDS, MI 49534-3582
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
Jun 29, 2023
—
Grade Eight Properties LLC
Grade Five Properties LLC
Quit Claim Deed
—
Aug 19, 2013
—
Grade Five Properties LLC
Timothy P Irwin
Quit Claim Deed
related
$249,000 · Grand River Bank
Mar 13, 2013
—
Grade Five Properties LLC
Timothy P Irwin
Quit Claim Deed
related
—
Feb 28, 2013
$30,000
Michael C Gloe
Timothy P Irwin
Quit Claim Deed
related
—
Feb 14, 2013
—
Timothy P Irwin
Grade Eight Properties LLC
Quit Claim Deed
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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