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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Medical Office Space
12369 Michigan Ave Grass Lake, MI 49240-9213
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US43-0968486
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Total area
9,792 SF
Lot
2.6 ac (113,256 SF)
Zoning code
GC
APN
000-10-34-376-001-04
UPID
US43-0968486
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
-
Henry Ford Diagnostic Center - Grass Lake Medical Clinic
-
Elizabeth A Shea, NP Physician
-
Lauren P Sibeck, MD Pediatrician Physician
-
Henry Ford Family Medicine - Grass Lake Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$807k
Blend (final)
Blend
$805k
Owner & transaction history
Don Gresser Holdings LLC · 20 yrs held
Don Gresser Holdings LLC
since 2006
2 recorded transactions
Zoning & alternative use
GC · Grass Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
CHAPTER 154: ZONING CODE
Top alternative use upside
Restaurant
$825,000
+2.7%
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
MEDICAL BUILDING
$805,000
Current use
RESTAURANT
$825,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$730,000
Change: -9% · Conversion: Easy
RETAIL STORES
$665,000
Change: -17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$655,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$82 / 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
$26,673
Tax year 2022
Assessed value
$534,600
Assessed 2023
Previous assessed
$506,200
+5.6% YoY
Effective rate
4.99%
On assessed value
Total market value
$1,069,200
Applied tax rate
4.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
9,792 SF
Lot
2.6 ac (113,256 SF)
Zoning code
GC
APN
000-10-34-376-001-04
UPID
US43-0968486
Jurisdiction
JACKSON
Zoning & alternative use
GC · Grass Lake, MIZoning GC · permitted uses
GC · Grass Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
CHAPTER 154: ZONING CODE
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$805,000
RESTAURANT
Est. value
$825,000
OFFICE BUILDING
Est. value
$730,000
RETAIL STORES
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$655,000
MEDICAL BUILDING Current
RESTAURANT
OFFICE 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
2007
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
2.6 ac
Current owner
From public records · entity-resolved
Don Gresser Holdings LLC
Entity
Mailing address
1403 AUSTON LN, CHELSEA, MI 48118-2104
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2006
$135,000
Don Gresser Holdings LLC
Norman Dean Eschelbach
Warranty Deed
$135,000 · Comerica Bank
—
—
Don Gresser Holdings LLC
—
Deed Of Trust
related
$142,000 · Comerica 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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