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Property profile & analytics
OFF-MARKET
Estimated value
$7,090,000
Warehouses
1227 M 89, Plainwell, MI 49080-1135
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-2343587
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Total area
95,484 SF
Lot
8.83 ac (384,548 SF)
APN
17-024-087-00
UPID
US43-2343587
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
$8.34M
Comparable Approach
Comparable
$5.66M
Blend (final)
Blend
$7.09M
Owner & transaction history
Mdc Coast 21 LLC · 6 yrs held
Mdc Coast 21 LLC
since 2020
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$10.4M
+10.7%
Commercial (general)
$10.4M
+10.2%
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 Plainwell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Plainwell 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%
$9,035,000
6.5%
$8,340,000
7%
$7,745,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,400,000
Current use
RESTAURANT
$10,405,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,360,000
Change: +10% · Conversion: Difficult
OFFICE BUILDING
$9,280,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$7.09M
Range $6.38M – $7.80M · ±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
$74 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$103,411
Tax year 2023
Assessed value
$2,332,500
Assessed 2024
Previous assessed
$2,080,300
+12.1% YoY
Effective rate
4.43%
On assessed value
Assessed land
$325,000
Assessed improvement
$2,007,500
Land market value
$650,000
Improvement market value
$4,015,000
Total market value
$4,665,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
95,484 SF
Lot
8.83 ac (384,548 SF)
APN
17-024-087-00
UPID
US43-2343587
Jurisdiction
ALLEGAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.4M
RESTAURANT
Est. value
$10.4M
COMMERCIAL (GENERAL)
Est. value
$10.4M
OFFICE BUILDING
Est. value
$9.3M
WAREHOUSE, STORAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1992
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
8.83 ac
Current owner
From public records · entity-resolved
Mdc Coast 21 LLC
Entity
Free & Clear · 6 yrs held
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
Ownership since
2020
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
Jan 30, 2020
—
Mdc Coast 21 LLC
Cole Hd Plainwell Mi LLC
Special Warranty Deed
—
Jul 16, 2013
$13,389,430
Cole Hd Plainwelll Mi LLC
Hd Plainwell LLC
Warranty Deed
$250,000,000 · Jpmorgan Chase Bank NA
Feb 1, 2011
—
Hd Plainwell LLC
A C Geenen Associates II LLC
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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