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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Automotive properties
1159 Superior St, Wayland, MI 49348-1264
Entity Owned
18-yr Hold
Free & Clear
Property ID
US43-5059738
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1979
Total area
15,048 SF
Lot
5.2 ac (226,512 SF)
APN
56-006-041-00
UPID
US43-5059738
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
-
Ed Koehn Ford of Wayland, Inc. Parts Auto Parts Store
-
Ed Koehn Ford of Wayland, Inc. Service Auto Repair Shop
-
Ed Koehn Ford of Wayland, Inc. Car Dealership Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.12M
Blend (final)
Blend
$1.14M
Owner & transaction history
Merm II LLC · 18 yrs held
Merm II LLC
since 2008
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.6M
+54.1%
Commercial (general)
$1.6M
+53.5%
Warehouse, storage
$1.5M
+39.2%
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 Wayland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayland 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
$1,065,000
Current use
RESTAURANT
$1,640,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,635,000
Change: +53% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,480,000
Change: +39% · Conversion: Easy
OFFICE BUILDING
$1,465,000
Change: +37% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,170,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±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
$76 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$31,055
Tax year 2023
Assessed value
$907,200
Assessed 2024
Previous assessed
$591,300
+53.4% YoY
Effective rate
3.42%
On assessed value
Assessed land
$518,200
Assessed improvement
$389,000
Land market value
$1,036,400
Improvement market value
$778,000
Total market value
$1,814,400
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1979
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
15,048 SF
Lot
5.2 ac (226,512 SF)
APN
56-006-041-00
UPID
US43-5059738
Jurisdiction
ALLEGAN
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
AUTO REPAIR, GARAGE Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.5M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
OFFICE BUILDING
INDUSTRIAL (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
1979
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
5.2 ac
Current owner
From public records · entity-resolved
Merm II LLC
Entity
Free & Clear · 18 yrs held
Mailing address
7144 DECOSTA CT NE, ROCKFORD, MI 49341-9492
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2008
—
Merm II LLC
Edward S Finkelstein
Quit Claim Deed
related
—
Mar 7, 2008
$900,000
Edaron LLC
Merm II LLC
Warranty Deed
$720,000 · Commercial Bank Greenville
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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