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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Flex space
14851 Michael Ln Spring Lake, MI 49456-9566
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-4224995
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1996
Total area
25,884 SF
Lot
6.03 ac (262,667 SF)
Zoning code
LI
APN
70-03-24-100-105
UPID
US43-4224995
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
-
Relative Foods Big Box & Wholesale Store Food Market
-
Total Food Package Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$635k
Owner & transaction history
Mjm Real Estate LLC · 3 yrs held
Mjm Real Estate LLC
since 2022
2 recorded transactions
Zoning & alternative use
LI · Spring Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.9M
+26.1%
Warehouse, storage
$2.8M
+22.5%
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 Spring Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Lake 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
INDUSTRIAL (GENERAL)
$2,270,000
Current use
AUTO REPAIR, GARAGE
$2,860,000
Change: +26% · Conversion: Easy
WAREHOUSE, STORAGE
$2,775,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$25 / 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
$20,028
Tax year 2022
Assessed value
$745,100
Assessed 2023
Previous assessed
$726,000
+2.6% YoY
Effective rate
2.69%
On assessed value
Total market value
$1,490,200
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
25,884 SF
Lot
6.03 ac (262,667 SF)
Zoning code
LI
APN
70-03-24-100-105
UPID
US43-4224995
Jurisdiction
OTTAWA
Zoning & alternative use
LI · Spring Lake, MIZoning LI · permitted uses
LI · Spring Lake, MI
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
INDUSTRIAL (GENERAL) Current
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.8M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1996
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
6.03 ac
Current owner
From public records · entity-resolved
Mjm Real Estate LLC
Entity
Mailing address
825 SHELDON RD, GRAND HAVEN, MI 49417-2114
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
Oct 25, 2022
—
Mjm Real Estate LLC
Tight Line Properties LLC
Warranty Deed
$1,512,000 · United Bank Of Michigan
Jan 29, 2008
—
Tight Line Properties LLC
Pauline E Yount
Warranty Deed
$401,750 · National City 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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