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Property profile & analytics
FOR LEASE
Office buildings
135 N State St Zeeland, MI 49464
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US43-2085460
For Lease
$14 SF/Yr
135 N State St, Zeeland, MI 49464
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1972
Total area
17,379 SF
Lot
0.87 ac (37,767 SF)
Zoning code
C-3
APN
70-17-18-352-005
UPID
US43-2085460
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
-
Edward Jones - Financial Advisor: Joshua M Swanson Financial Advisor
-
Bella Vita Solutions Crisis Center Medical Clinic
-
Shoreline Sprinkling Inc General Contractor Construction Company
-
Relax Massage Alternative Medicine Practice Spa & Massage Center
-
Cindy Koorstra Tax Services Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.63M
Owner & transaction history
Cdl Properties LLC · 21 yrs held
Cdl Properties LLC
since 2005
3 recorded transactions
Zoning & alternative use
C-3 · Zeeland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.6M
+8.4%
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 Zeeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zeeland 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
OFFICE BUILDING
$2,375,000
Current use
RETAIL STORES
$2,575,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,300,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,920,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.46M – $1.79M · ±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
$94 / 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
$12,749
Tax year 2022
Assessed value
$625,700
Assessed 2023
Previous assessed
$606,400
+3.2% YoY
Effective rate
2.04%
On assessed value
Total market value
$1,251,400
Applied tax rate
79.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1972
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
3
Stories
1
Total area
17,379 SF
Lot
0.87 ac (37,767 SF)
Zoning code
C-3
APN
70-17-18-352-005
UPID
US43-2085460
Jurisdiction
OTTAWA
Zoning & alternative use
C-3 · Zeeland, MI
Zoning C-3 · permitted uses
C-3 · Zeeland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zeeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.4M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1972
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Lot
0.87 ac
Current owner
From public records · entity-resolved
Cdl Properties LLC
Entity
Mailing address
8725 76TH AVE, HUDSONVILLE, MI 49426-9526
Ownership since
2005
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
Jun 24, 2022
—
Cdl Properties LLC
—
Deed
related
$550,000 · Choiceone Bank
Jun 30, 2017
—
Cdl Properties LLC
—
Deed
related
$620,000 · Chemical Bank
Jan 31, 2005
—
Cdl Properties LLC
Turner Kimball Rental LLC
Warranty Deed
$652,000 · Macatawa 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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