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Property profile & analytics
OFF-MARKET
Estimated value
$2,185,000
Auto shops
11531 Chicago Dr, Holland, MI 49424
Entity Owned
13-yr Hold
Free & Clear
Property ID
US43-2054596
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Total area
35,466 SF
Lot
10.99 ac (478,637 SF)
Zoning code
FP
APN
70-16-22-400-084
UPID
US43-2054596
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
-
PADNOS Black River Recycling Center Recycling Center Waste Management Facility
-
PADNOS Black River Recycling Recycling Center Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$2.19M
Owner & transaction history
Padnos Retail INC · 13 yrs held
Padnos Retail INC
since 2013
1 recorded transaction
Zoning & alternative use
FP · Holland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.5M
+13.9%
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 Holland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Holland 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
AUTO REPAIR, GARAGE
$3,035,000
Current use
INDUSTRIAL (GENERAL)
$3,455,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$2,945,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$2.19M
Range $1.97M – $2.40M · ±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
$62 / 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
$31,145
Tax year 2022
Assessed value
$775,200
Assessed 2023
Previous assessed
$754,000
+2.8% YoY
Effective rate
4.02%
On assessed value
Total market value
$1,550,400
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Heating
FORCED AIR
Buildings
5
Stories
1
Total area
35,466 SF
Lot
10.99 ac (478,637 SF)
Zoning code
FP
APN
70-16-22-400-084
UPID
US43-2054596
Jurisdiction
OTTAWA
Zoning & alternative use
FP · Holland, MI
Zoning FP · permitted uses
FP · Holland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Holland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$3.0M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
WAREHOUSE, STORAGE
Est. value
$2.9M
AUTO REPAIR, GARAGE Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
5
Lot
10.99 ac
Current owner
From public records · entity-resolved
Padnos Retail INC
Entity
Free & Clear · 13 yrs held
Mailing address
185 W 8TH ST, HOLLAND, MI 49423-3107
Ownership since
2013
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
Jan 2, 2013
—
Padnos Retail INC
Louis Padnos Iron & Metal Company
Warranty Deed
—
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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