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Property profile & analytics
OFF-MARKET
Retail residential properties
121 Michigan Ave, Grass Lake, MI 49240-9680
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-1010293
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1880
Total area
3,500 SF
Lot
0.07 ac (2,875 SF)
Zoning code
CBD
APN
007-10-32-481-012-00
UPID
US43-1010293
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
by Request
Owner & transaction history
Asher Creek LLC · 2 yrs held
Asher Creek LLC
since 2023
Last sale
$210,000
7 recorded transactions
Zoning & alternative use
CBD · Grass Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,399
Tax year 2022
Assessed value
$68,000
Assessed 2023
Previous assessed
$68,000
+0.0% YoY
Effective rate
5.00%
On assessed value
Total market value
$136,000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1880
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
3,500 SF
Lot
0.07 ac (2,875 SF)
Zoning code
CBD
APN
007-10-32-481-012-00
UPID
US43-1010293
Jurisdiction
JACKSON
Zoning & alternative use
CBD · Grass Lake, MI
Zoning CBD · permitted uses
CBD · Grass Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grass Lake. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1880
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Asher Creek LLC
Entity
Mailing address
118 N HARVEY RD, JACKSON, MI 49201-8415
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2023
—
Asher Creek LLC
Michael Riccardi
Quit Claim Deed
related
$193,000 · Oxford Bank
Nov 8, 2023
$210,000
Michael Riccardi
Jam121 LLC
Warranty Deed
$193,000 · Oxford Bank
Dec 12, 2022
—
Jam 121 LLC
Jam LLC
Quit Claim Deed
related
—
Apr 29, 2015
—
Jam LLC
Melissa A Shelhart
Quit Claim Deed
related
$125,000 · Hillsdale County National Bank
Sep 22, 2014
$105,000
Melissa A Shelhart
Bank Of Ann Arbor
Warranty Deed
—
Apr 25, 2013
$153,350
Bank Of Ann Arbor
Deputy Sheriff Of Jackson Cnty
Trustees Deed
related
—
Apr 25, 2011
—
Beas Attic LLC
Beas Attic LLC
Quit Claim Deed
related
—
Oct 2, 2007
$218,750
Beas Attic LLC
Hall,rodney & Darcel
Warranty Deed
$175,000 · New Liberty Bank
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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