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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Retail space
127 124th Ave, Shelbyville, MI 49344-9744
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-2209900
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1995
Total area
8,000 SF
Lot
3.33 ac (145,185 SF)
APN
24-036-010-20
UPID
US43-2209900
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
-
Dream Team RV Repair Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$380k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$639k
Blend (final)
Blend
$565k
Owner & transaction history
Gun Lake Leasing LLC · 4 yrs held
Gun Lake Leasing LLC
since 2022
2 recorded transactions
Zoning & alternative use
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 Shelbyville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shelbyville 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
$380,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$870,000
Change: -14% · Conversion: Easy
COMMERCIAL (GENERAL)
$870,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$71 / 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
$10,472
Tax year 2023
Assessed value
$258,700
Assessed 2024
Previous assessed
$255,300
+1.3% YoY
Effective rate
4.05%
On assessed value
Assessed land
$76,600
Assessed improvement
$182,100
Land market value
$153,200
Improvement market value
$364,200
Total market value
$517,400
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 space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1995
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
8,000 SF
Lot
3.33 ac (145,185 SF)
APN
24-036-010-20
UPID
US43-2209900
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
RESTAURANT
Est. value
$870,000
COMMERCIAL (GENERAL)
Est. value
$870,000
RESTAURANT
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
1995
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
3.33 ac
Current owner
From public records · entity-resolved
Gun Lake Leasing LLC
Entity
Mailing address
127 124TH AVE, SHELBYVILLE, MI 49344-9744
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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 24, 2022
—
Gun Lake Leasing LLC
Applied Real Estate Services LLC
Warranty Deed
$428,000 · United Bank Of Michigan
Jul 13, 2007
$350,000
Applied Real Estate Services LLC
P & M Properties LLC
Warranty Deed
$250,000 · Byron 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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