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Property profile & analytics
OFF-MARKET
Estimated value
$1,670,000
Grocery and convenience stores
1406 Eaton St, Albion, MI 49224-9470
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US43-2218938
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1954
Total area
39,417 SF
Lot
3.21 ac (139,828 SF)
Zoning code
C
APN
51-002-040-02
UPID
US43-2218938
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
-
Primo Water Refill Big Box & Wholesale Store
-
Family Fare Pharmacy Pharmacy
-
Coinstar Bank Credit Union
-
Western Union Bank Credit Union
-
Christopher S. Musgrove, PHARMD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$1.67M
Owner & transaction history
Albion Real Estate Associates LLC · 17 yrs held
Albion Real Estate Associates LLC
since 2009
1 recorded transaction
Zoning & alternative use
C · Albion, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+9.9%
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 Albion submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albion 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
RETAIL STORES
$2,425,000
Current use
OFFICE BUILDING
$2,665,000
Change: +10% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,360,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,975,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.67M
Range $1.50M – $1.84M · ±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
$42 / 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
$51,588
Tax year 2022
Assessed value
$721,500
Assessed 2024
Previous assessed
$870,700
-17.1% YoY
Effective rate
7.15%
On assessed value
Total market value
$1,443,000
Applied tax rate
13,010.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1954
Heating
FORCED AIR
Stories
1
Total area
39,417 SF
Lot
3.21 ac (139,828 SF)
Zoning code
C
APN
51-002-040-02
UPID
US43-2218938
Jurisdiction
CALHOUN
Zoning & alternative use
C · Albion, MI
Zoning C · permitted uses
C · Albion, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Albion. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES Current
OFFICE BUILDING
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
1954
Heating
FORCED AIR
Stories
1
Lot
3.21 ac
Current owner
From public records · entity-resolved
Albion Real Estate Associates LLC
Entity
Mailing address
3944 WINTERSET LN, WEST BLOOMFIELD, MI 48323-1863
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2009
—
Albion Real Estate Associates LLC
Feldpausch Realty LLC
Warranty Deed
—
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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