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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Turn key restaurants
1361 Old Mcdevitt Ave Jackson, MI 49203-1775
Entity Owned
15-yr Hold
Free & Clear
Property ID
US43-2988497
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Total area
8,905 SF
Lot
1.96 ac (85,595 SF)
Zoning code
C-3
APN
000-13-24-253-027-03
UPID
US43-2988497
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
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$1.06M
Owner & transaction history
K2 Property LLC · 15 yrs held
K2 Property LLC
since 2011
3 recorded transactions
Zoning & alternative use
C-3 · Jackson, MI
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 Jackson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jackson 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
RESTAURANT
$795,000
Current use
MEDICAL BUILDING
$755,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$640,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±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
$119 / 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 2020Property tax & assessments
Tax year 2020
Tax billed
$29,854
Tax year 2020
Assessed value
$620,700
Assessed 2023
Previous assessed
$572,100
+8.5% YoY
Effective rate
4.81%
On assessed value
Total market value
$1,241,400
Applied tax rate
17.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
8,905 SF
Lot
1.96 ac (85,595 SF)
Zoning code
C-3
APN
000-13-24-253-027-03
UPID
US43-2988497
Jurisdiction
JACKSON
Zoning & alternative use
C-3 · Jackson, MI
Zoning C-3 · permitted uses
C-3 · Jackson, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jackson. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$795,000
MEDICAL BUILDING
Est. value
$755,000
RETAIL STORES
Est. value
$640,000
RESTAURANT Current
MEDICAL BUILDING
RETAIL STORES
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
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.96 ac
Current owner
From public records · entity-resolved
K2 Property LLC
Entity
Free & Clear · 15 yrs held
Mailing address
3365 WILLIS RD, GRASS LAKE, MI 49240-9007
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
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
Feb 22, 2011
—
K2 Property LLC
Klavon Ents LLC
Quit Claim Deed
related
—
Jan 21, 2011
$150,000
Klavon Ents LLC
Carlsen,rena M & Carl H
Warranty Deed
—
—
—
K2 Property LLC
—
Deed Of Trust
related
$2,589,000 · Comerica Bk
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
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