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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Retail space
16 Elm St, Zeeland, MI 49464-1751
Individually Owned
2-yr Hold
Free & Clear
Property ID
US43-3420987
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
7,032 SF
Lot
0.27 ac (11,718 SF)
Zoning code
ON
APN
70-17-19-101-051
UPID
US43-3420987
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
-
Sunday School Guide Publishing Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$615k
Owner & transaction history
Jason Hall · 2 yrs held
Jason Hall
since 2024
Last sale
$612,500
4 recorded transactions
Zoning & alternative use
ON · Zeeland, 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 Zeeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zeeland 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
$615,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$960,000
Change: -8% · Conversion: Easy
COMMERCIAL (GENERAL)
$930,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$615k
Range $554k – $677k · ±10% · vs last sale $613k (Jan 15 2024)
Last sale anchor
$613k
Jan 15 2024
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
$87 / 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
$3,792
Tax year 2022
Assessed value
$140,900
Assessed 2023
Previous assessed
$140,900
+0.0% YoY
Effective rate
2.69%
On assessed value
Total market value
$281,800
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
7,032 SF
Lot
0.27 ac (11,718 SF)
Zoning code
ON
APN
70-17-19-101-051
UPID
US43-3420987
Jurisdiction
OTTAWA
Zoning & alternative use
ON · Zeeland, MI
Zoning ON · permitted uses
ON · Zeeland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zeeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$960,000
COMMERCIAL (GENERAL)
Est. value
$930,000
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Jason Hall
Individual
Free & Clear · 2 yrs held
Mailing address
8516 HOMESTEAD DR STE #102, ZEELAND, MI 49464-9226
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2024
—
16 S Elm St LLC
—
Deed
related
$1,232,000 · Choiceone Bank
Jan 15, 2024
$612,500
Jason Hall
Kurtis C Van Koevering
Warranty Deed
—
Jan 15, 2024
—
16 S Elm St LLC
Jason Hall
Quit Claim Deed
related
$600,000 · Choiceone Bank
Jul 14, 2023
—
Jason Hall
Kurtis C Van Koevering
Land Contract
—
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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