New search
Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Office buildings
1424 Straits Dr, Bay City, MI 48706-8705
Entity Owned
13-yr Hold
Free & Clear
Property ID
US43-1005531
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
13,525 SF
Lot
4.95 ac (215,622 SF)
Zoning code
I-1
APN
100-V07-000-027-00
UPID
US43-1005531
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
-
Viridis North Laboratory
-
Straits Operations Company Freight Service Logistics Company
-
Virid Group Employment Agency
-
Straits Service Co Freight Service Logistics Company
-
Straits Staffing Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$853k
Blend (final)
Blend
$855k
Owner & transaction history
Cats Holding Co LLC · 13 yrs held
Cats Holding Co LLC
since 2012
5 recorded transactions
Zoning & alternative use
I-1 · Bay City, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+26.9%
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 Bay City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bay City 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
$925,000
Current use
RESTAURANT
$1,175,000
Change: +27% · Conversion: Moderate
AUTO REPAIR, GARAGE
$815,000
Change: -12% · Conversion: Difficult
RETAIL STORES
$750,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$855k
Range $770k – $941k · ±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
$63 / 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
$26,948
Tax year 2023
Assessed value
$503,100
Assessed 2024
Previous assessed
$599,000
-16.0% YoY
Effective rate
5.36%
On assessed value
Total market value
$1,006,200
Applied tax rate
100.0000
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
Off-Market
Year built
2006
Heating
FORCED AIR
Stories
1
Total area
13,525 SF
Lot
4.95 ac (215,622 SF)
Zoning code
I-1
APN
100-V07-000-027-00
UPID
US43-1005531
Jurisdiction
BAY
Zoning & alternative use
I-1 · Bay City, MI
Zoning I-1 · permitted uses
I-1 · Bay City, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bay City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$925,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$815,000
RETAIL STORES
Est. value
$750,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
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
Year built
2006
Heating
FORCED AIR
Stories
1
Lot
4.95 ac
Current owner
From public records · entity-resolved
Cats Holding Co LLC
Entity
Free & Clear · 13 yrs held
Mailing address
1424 STRAITS DR, BAY CITY, MI 48706-8705
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2012
—
Cats Holding Co LLC
Straits Operations Co
Quit Claim Deed
—
Dec 11, 2006
—
Pinkerton Construction LLC
Detroit & Mackinac Railway
Quit Claim Deed
related
—
Dec 8, 2006
—
Straits Operations Co
Pinkerton Construction Co LLC
Quit Claim Deed
related
—
—
—
Cats Holding Co LLC
—
Loan Modification
related
—
—
—
Cats Holding Co LLC
—
Deed Of Trust
related
$742,500 · First State 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?”
You own 1424 Straits Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
