Financial
Distress signals
Property profile

115 E Michigan Ave Grass Lake, MI 49240

FOR SALE
Banks
Property ID
US43-1519671
2,640 SF 0.07 ac lot Built 1900
Last sale Jun 2025
Entity Owned Owner of record is a legal entity (LLC / corporation). 1-yr Hold Held for 1 years. Absentee Owner Owner mailing address differs from the property address. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

The property is a commercial building located in Grass Lake in a highly visible area with both foot and vehicle traffic. The main level features granite and marble finishes, high ceilings, a restroom, and a private executive office. An upper level provides adaptable space configured for a kitchenette, a half bath, and a utility or storage area, with the utility area originally finished with a ceiling that could potentially be exposed by removing a drop ceiling on the main floor. The basement is…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2022

What does the county charge?
$3k
Tax billed · 2022
Assessed value · 2023$103k
Effective rate2.55%

Value estimate

· Sep 2026
$270k
$243k – $297k
NOI build-up
Gross scheduled income$38k
Vacancy & credit loss−$9k
Operating expenses−$7k
NOI · 7.38% cap applied$22k

Realmo valuation models over county records.

Recently sold

No data for this section
What actually traded nearby?

No cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.

Cap rate analysis

How does the asset earn?
7.38%
$22k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
CBD
JurisdictionJACKSON

Location intelligence

Which uses thrive at this corner?
Best fit: Dental Office
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Dental Office10.9
Spa & Massage9.2
Building Supply9.2

Location

115 E Michigan Ave Grass Lake, MI 49240
County assessor Recorded deeds · 1 transfer Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

3 recorded sales · 6 properties nearby
Recent sales nearby
3 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
103 Michigan, Grass Lake, MI 49240-9188 $290,000 May 2025 1,344 SF
101 Michigan, Grass Lake, MI 49240-9188 $290,000 Mar 2025 5,880 SF
117 Michigan, Grass Lake, MI 49240-9680 $195,000 Nov 2023 1,750 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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