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Property profile & analytics
OFF-MARKET
Turn key restaurants
1553 Plainfield NE Ave, Grand Rapids, MI 49505-4977
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-1880113
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1951
Total area
5,390 SF
Lot
0.11 ac (4,922 SF)
Zoning code
TN-TBA
APN
41-14-18-327-013
UPID
US43-1880113
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
-
Gaia House Cafe Restaurant
-
Blue Flame Thinking Advertising Agency Marketing & Advertising
-
The DAAC Music Venue Bar & Pub
-
Sacred Garden Sound Healing Alternative Medicine Practice Spa & Massage Center
-
PREMA YOGA MICHIGAN Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Allen Durham · 1 yrs held
Allen Durham
since 2025
7 recorded transactions
Zoning & alternative use
TN-TBA · Grand Rapids, 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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2021Property tax & assessments
Tax year 2021
Tax billed
$8,698
Tax year 2021
Assessed value
$273,500
Assessed 2024
Previous assessed
$210,900
+29.7% YoY
Effective rate
3.18%
On assessed value
Total market value
$547,000
Applied tax rate
51.0000
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
Year built
1951
Heating
FORCED AIR
Buildings
9
Stories
1
Total area
5,390 SF
Lot
0.11 ac (4,922 SF)
Zoning code
TN-TBA
APN
41-14-18-327-013
UPID
US43-1880113
Jurisdiction
KENT
Zoning & alternative use
TN-TBA · Grand Rapids, MI
Zoning TN-TBA · permitted uses
TN-TBA · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1951
Heating
FORCED AIR
Stories
1
Buildings
9
Lot
0.11 ac
Current owner
From public records · entity-resolved
Allen Durham
Individual
Mailing address
1325 BEMIS ST SE, GRAND RAPIDS, MI 49506-2546
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2025
—
Allen Durham
1553 Planfield Avenue LLC
Warranty Deed
—
May 9, 2019
—
1553 Plainfield Avenue LLC
Moneypit Investment Properties LLC
Warranty Deed
$456,000 · Chemical Bank
Aug 19, 2016
$133,000
Moneypit Investment Properties
Cummings,thad
Warranty Deed
—
Aug 19, 2016
—
Thad Cummings
Lecoy,crystal
Quit Claim Deed
related
—
Jun 24, 2016
$130,000
Thad Cummings
Graham Investment Properties L
Warranty Deed
—
Jun 14, 2016
—
Thad Cummings
Cummings,thad
Quit Claim Deed
related
—
Jun 7, 2016
—
Thad Cummings
Cummings,thad
Quit Claim Deed
related
—
May 2, 2016
—
Thad Cummings
Graham Inv
Grant Deed
—
Jan 6, 2015
—
Riverside Holdings Of West Mi LLC
Graham Investment Props LLC
Grant Deed
—
Oct 22, 2012
$60,000
Graham Investment Properties & LLC
Option 1 Credit Union
Deed
$115,000 · Option 1 Cu
Aug 5, 2010
$199,703
Option 1 Cu
Sheriff Of Kent County
Trustees Deed
related
—
Jul 3, 2007
—
Beckett Family Trust
Beckett,michael J & Robin L
Quit Claim Deed
related
—
Apr 30, 2004
—
1553 Plainfield LLC
Beckett,tr
Grant Deed
related
—
Mar 12, 2004
—
Michael J Beckett
Beckett,tr
Quit Claim Deed
related
$90,000 · Select Bank
—
—
Michael J Beckett
—
Deed Of Trust
related
$800,000 · Select 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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