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Property profile & analytics
OFF-MARKET
Estimated value
$105,000
Drive through restaurants
118 Michigan Ave Albion, MI 49224-1736
Individually Owned
17-yr Hold
Free & Clear
Property ID
US43-2358781
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1990
Total area
3,164 SF
Lot
0.72 ac (31,189 SF)
Zoning code
MU
APN
51-000-563-00
UPID
US43-2358781
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$105k
Owner & transaction history
Chun Yang Chang · 17 yrs held
Chun Yang Chang
since 2008
1 recorded transaction
Zoning & alternative use
MU · Albion, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
MU district is intended to accommodate a mix of single-family and multiple-family residential uses, mixed uses, and business and office uses in addition to other compatible uses which support the primary uses in the district and the surrounding community.
Zone name
Mixed Use District
General category
MIXED_USE
Zone area
244.16 ac
Source
Realmo
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 Albion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albion 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
Blend value · Realmo final
$105k
Range $95k – $116k · ±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
$33 / 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
$2,355
Tax year 2022
Assessed value
$98,600
Assessed 2024
Previous assessed
$70,400
+40.1% YoY
Effective rate
2.39%
On assessed value
Total market value
$197,200
Applied tax rate
13,010.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1990
Heating
FORCED AIR
Stories
1
Total area
3,164 SF
Lot
0.72 ac (31,189 SF)
Zoning code
MU
APN
51-000-563-00
UPID
US43-2358781
Jurisdiction
CALHOUN
Zoning & alternative use
MU · Albion, MIZoning MU · permitted uses
MU · Albion, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
MU district is intended to accommodate a mix of single-family and multiple-family residential uses, mixed uses, and business and office uses in addition to other compatible uses which support the primary uses in the district and the surrounding community.
Zone name
Mixed Use District
General category
MIXED_USE
Zone area
244.16 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1990
Heating
FORCED AIR
Stories
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Chun Yang Chang
Individual
Free & Clear · 17 yrs held
Mailing address
PO BOX 293, BROOKLYN, MI 49230-0293
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2008
$106,000
Chun Yang Chang
Wing Lam Hiu
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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