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Property profile & analytics
OFF-MARKET
Estimated value
$5,595,000
Assisted living facilities
1221 16th St Holland, MI 49423-9127
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-2170074
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2007
Total area
47,105 SF
Lot
5.34 ac (232,523 SF)
Zoning code
AGR
APN
70-16-26-300-036
UPID
US43-2170074
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
-
Dr. Vajendra J. Desai, MD Physician Medical Clinic
-
Medilodge of Holland Nursing Home
-
Kenneth Spaulding Physician
-
Mallory Veltema Physician
-
Derrick Mullins Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.60M
Owner & transaction history
Holland 1221 Property Holdings LLC · 2 yrs held
Holland 1221 Property Holdings LLC
since 2023
Last sale
$5.6M
3 recorded transactions
Zoning & alternative use
AGR · Holland, 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 Holland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Holland 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
$6,850,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$7,380,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$6,215,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,820,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,515,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,760,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$5.60M
Range $5.04M – $6.15M · ±10% · vs last sale $5.60M (Dec 6 2023)
Last sale anchor
$5.60M
Dec 6 2023
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
$119 / 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
$93,184
Tax year 2022
Assessed value
$1,875,100
Assessed 2023
Previous assessed
$1,875,100
+0.0% YoY
Effective rate
4.97%
On assessed value
Total market value
$3,750,200
Applied tax rate
65.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
47,105 SF
Lot
5.34 ac (232,523 SF)
Zoning code
AGR
APN
70-16-26-300-036
UPID
US43-2170074
Jurisdiction
OTTAWA
Zoning & alternative use
AGR · Holland, MI
Zoning AGR · permitted uses
AGR · Holland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Holland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$7.4M
OFFICE BUILDING
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$5.5M
WAREHOUSE, STORAGE
Est. value
$3.8M
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2007
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
5.34 ac
Current owner
From public records · entity-resolved
Holland 1221 Property Holdings LLC
Entity
Mailing address
3450 OAKTON ST, SKOKIE, IL 60076-2951
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2023
$5,597,489
Holland 1221 Property Holdings LLC
Tmi Holland Re LLC
Deed
—
Jun 17, 2011
—
Tmi Holland Re LLC
Tendercare Holdings Limited Partner
Warranty Deed
$7,824,000 · Walker & Dunlop LLC
Apr 25, 2005
—
Tendercare Holdings LP
The Nicholas & Alice Ellerbroek Tru
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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