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Property profile & analytics
OFF-MARKET
Estimated value
$95,000
Office buildings
119 Lk St Grass Lake, MI 49240-9476
Individually Owned
20-yr Hold
Free & Clear
Property ID
US43-1815395
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Total area
9,920 SF
Lot
1.4 ac (60,984 SF)
Zoning code
MU-1
APN
001-10-32-405-019-01
UPID
US43-1815395
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
-
Village of Grass Lake Government Office
-
VILLAGE HALL Village Hall
-
Grass Lake Downtown Development Authority Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$737k
Blend (final)
Blend
$95k
Owner & transaction history
GRASS LAKE VILLAGE
GRASS LAKE VILLAGE
Zoning & alternative use
MU-1 · Grass Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
N REGULATIONS CHAPTER 153: LAND DIVISION CHAPTER 154: ZONING CODE GENERAL PROVISIONS NONCONFORMITIES ZONING DISTRICTS GENERALLY VILLAGE FORM-BASED CODE USE STANDARDS FOR ALL ZONING DISTRICTS RESIDENTIAL ZONING DISTRICTS MU-1, MUNICIPAL UTILITIES DISTRICT PUD, PLANNED UNIT DEVELOPMENT OVERLAY DISTRICT SUPPLEMENTAL REGULATIONS GENERALLY SITE PLAN REVIEW AND AP…
Zone name
Municipal Utilities
General category
UNKNOWN
Zone area
8.51 ac
Source
CHAPTER 154: ZONING CODE
Top alternative use upside
Restaurant
$835,000
+13.5%
Medical building
$815,000
+10.4%
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 Grass Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grass 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
$735,000
Current use
RESTAURANT
$835,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$815,000
Change: +10% · Conversion: Easy
RETAIL STORES
$675,000
Change: -8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$665,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$95k
Range $86k – $105k · ±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
$10 / 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
Applied tax rate
44.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Off-Market
Year built
1970
Heating
FORCED AIR
Buildings
4
Stories
1
Total area
9,920 SF
Lot
1.4 ac (60,984 SF)
Zoning code
MU-1
APN
001-10-32-405-019-01
UPID
US43-1815395
Jurisdiction
JACKSON
Zoning & alternative use
MU-1 · Grass Lake, MIZoning MU-1 · permitted uses
MU-1 · Grass Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
N REGULATIONS CHAPTER 153: LAND DIVISION CHAPTER 154: ZONING CODE GENERAL PROVISIONS NONCONFORMITIES ZONING DISTRICTS GENERALLY VILLAGE FORM-BASED CODE USE STANDARDS FOR ALL ZONING DISTRICTS RESIDENTIAL ZONING DISTRICTS MU-1, MUNICIPAL UTILITIES DISTRICT PUD, PLANNED UNIT DEVELOPMENT OVERLAY DISTRICT SUPPLEMENTAL REGULATIONS GENERALLY SITE PLAN REVIEW AND APPROVAL SPECIAL LAND USES OFF-STREET PARKING REQUIREMENTS OFF-STREET LOADING AND UNLO
Zone name
Municipal Utilities
General category
UNKNOWN
Zone area
8.51 ac
Source
CHAPTER 154: ZONING CODE
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$735,000
RESTAURANT
Est. value
$835,000
MEDICAL BUILDING
Est. value
$815,000
RETAIL STORES
Est. value
$675,000
COMMERCIAL (GENERAL)
Est. value
$665,000
OFFICE BUILDING Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (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
1970
Heating
FORCED AIR
Stories
1
Buildings
4
Lot
1.4 ac
Current owner
From public records · entity-resolved
GRASS LAKE VILLAGE
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 737, GRASS LAKE, MI 49240-0737
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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