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Property profile & analytics
FOR SALE
Office buildings
116 S Jackson St, Spring Lake, MI 49456
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-2443590
For Sale
1 / 42
$895,000
116 S Jackson St, Spring Lake, MI 49456
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
4,800 SF
Lot
0.14 ac (6,186 SF)
Zoning code
CBD
APN
70-03-15-382-012
UPID
US43-2443590
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
-
Keur Locker Services Building Supply Hardware & Home Improvement
-
Temple Lounge Hotel & Motel Resort
-
L&U Auto Towing's Company Auto Parts Store
-
Summer Sessions – Waterfront Concert Series Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$556k
Blend (final)
Blend
$555k
Owner & transaction history
Break On Torough LLC · 3 yrs held
Break On Torough LLC
since 2022
4 recorded transactions
Zoning & alternative use
CBD · Spring Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$710,000
+8.4%
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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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
OFFICE BUILDING
$655,000
Current use
RETAIL STORES
$710,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$635,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$530,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$116 / 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
$7,632
Tax year 2022
Assessed value
$246,400
Assessed 2023
Previous assessed
$186,400
+32.2% YoY
Effective rate
3.10%
On assessed value
Total market value
$492,800
Applied tax rate
7.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
2005
Heating
FORCED AIR
Buildings
2
Stories
2
Bathrooms
1
Total area
4,800 SF
Lot
0.14 ac (6,186 SF)
Zoning code
CBD
APN
70-03-15-382-012
UPID
US43-2443590
Jurisdiction
OTTAWA
Zoning & alternative use
CBD · Spring Lake, MI
Zoning CBD · permitted uses
CBD · Spring Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$655,000
RETAIL STORES
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$530,000
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2005
Heating
FORCED AIR
Stories
2
Buildings
2
Bathrooms
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Break On Torough LLC
Entity
Mailing address
4927 STARIHA DR STE B, NORTON SHORES, MI 49441-5576
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2022
—
Break On Torough LLC
Michele C Hanks
Warranty Deed
—
Sep 23, 2022
—
Gary D Hanks
—
Deed
related
$42,500 · Sandi L Gentry
Aug 19, 2022
—
Michelle C Hanks
—
Deed
related
$50,000 · Kindred Soul LLC
Feb 2, 2022
—
Michelle C Hanks
—
Deed
related
$330,000 · Best Financial Cu
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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