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Property profile & analytics
OFF-MARKET
Estimated value
$2,240,000
Strip malls
125 Kipp Rd Mason, MI 48854-8202
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-3432508
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2017
Total area
14,985 SF
Lot
1.42 ac (61,725 SF)
Zoning code
C2
APN
33-19-10-09-351-017
UPID
US43-3432508
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
-
Dollar Tree Discount Store
-
Wild Bill's Tobacco (Bike/Boat/Book/etc) Store
-
T-Mobile Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.68M
CAP Approach
CAP
$2.05M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.24M
Owner & transaction history
Grben LLC · 2 yrs held
Grben LLC
since 2023
Last sale
$2.2M
6 recorded transactions
Zoning & alternative use
C2 · Mason, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.8M
+92.1%
Restaurant
$1.7M
+81.7%
Commercial (general)
$1.7M
+78.0%
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 Mason submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mason 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
$3,080,000
ML approach
$2,675,000
CAP Approach
CAP Return
Estimation
6%
$2,215,000
6.5%
$2,045,000
7%
$1,900,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,845,000
Change: +92% · Conversion: Difficult
RESTAURANT
$1,745,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,710,000
Change: +78% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,510,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$1,400,000
Change: +45% · Conversion: Moderate
Blend value · Realmo final
$2.24M
Range $2.02M – $2.46M · ±10% · vs last sale $2.18M (Sep 28 2023)
Last sale anchor
$2.18M
Sep 28 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
$149 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$40,091
Tax year 2021
Assessed value
$785,310
Assessed 2023
Previous assessed
$785,310
+0.0% YoY
Effective rate
5.11%
On assessed value
Assessed land
$131,160
Assessed improvement
$654,150
Land market value
$262,320
Improvement market value
$1,308,300
Total market value
$1,570,620
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2017
Heating
YES
Stories
1
Total area
14,985 SF
Lot
1.42 ac (61,725 SF)
Zoning code
C2
APN
33-19-10-09-351-017
UPID
US43-3432508
Jurisdiction
INGHAM
Zoning & alternative use
C2 · Mason, MIZoning C2 · permitted uses
C2 · Mason, MI
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
MEDICAL BUILDING
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2017
Heating
YES
Stories
1
Lot
1.42 ac
Current owner
From public records · entity-resolved
Grben LLC
Entity
Mailing address
784 W LK LANSING RD, EAST LANSING, MI 48823-1446
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2024
—
Grben LLC
—
Deed
related
$1,550,000 · First National Bank Of America
Sep 28, 2023
$2,180,000
Grben LLC
Pacifica Mason LLC
Warranty Deed
$1,250,000 · Eaton Community Bank
Jan 4, 2017
$210,000
Pacifica Mason LLC
Rgh Investment Co LLC
Warranty Deed
—
Mar 18, 2014
$78,700
Rgh Investment Co LLC
Hayhoe Richard G SR Trust
Warranty Deed
—
Feb 18, 2014
—
Rgh Investment Co LLC
Hayhoe,richard G JR
Quit Claim Deed
related
—
Dec 14, 2012
—
Richard G Hayhoe
Hayhoe,lisa J
Quit Claim Deed
related
—
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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