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Property profile & analytics
OFF-MARKET
Estimated value
$3,245,000
Warehouses
16647 144th Ave, Spring Lake, MI 49456-9283
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-2278422
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2002
Total area
42,180 SF
Lot
11.02 ac (480,031 SF)
Zoning code
LI
APN
70-03-24-200-012
UPID
US43-2278422
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
-
Laker Lockers Self Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.24M
Blend (final)
Blend
$3.25M
Owner & transaction history
Cbl Store & Lock LLC · 1 yrs held
Cbl Store & Lock LLC
since 2024
7 recorded transactions
Zoning & alternative use
LI · Spring Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.7M
+3.0%
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
WAREHOUSE, STORAGE
$4,525,000
Current use
AUTO REPAIR, GARAGE
$4,660,000
Change: +3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,695,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$3.25M
Range $2.92M – $3.57M · ±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
$77 / 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
$33,371
Tax year 2022
Assessed value
$1,164,300
Assessed 2023
Previous assessed
$815,400
+42.8% YoY
Effective rate
2.87%
On assessed value
Total market value
$2,328,600
Applied tax rate
24.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2002
Heating
FORCED AIR
Buildings
7
Stories
1
Total area
42,180 SF
Lot
11.02 ac (480,031 SF)
Zoning code
LI
APN
70-03-24-200-012
UPID
US43-2278422
Jurisdiction
OTTAWA
Zoning & alternative use
LI · Spring Lake, MI
Zoning 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
Spring Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.7M
INDUSTRIAL (GENERAL)
Est. value
$3.7M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
INDUSTRIAL (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
Year built
2002
Heating
FORCED AIR
Stories
1
Buildings
7
Lot
11.02 ac
Current owner
From public records · entity-resolved
Cbl Store & Lock LLC
Entity
Mailing address
PO BOX 91, SPRING LAKE, MI 49456-0091
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2024
$85,000
Cbl Store & Lock LLC
Dale Tenbrink
Deed
related
—
Dec 17, 2024
—
Cbl Store & Lock LLC
Dale Tenbrink
Warranty Deed
—
Dec 29, 2022
—
Cbl Store & Lock LLC
—
Deed
related
$630,000 · Great Lakes Commerical Finance
May 25, 2022
—
Cbl Store And Lock LLC
—
Deed
related
$628 · The Tenbrink Family Trust
Nov 10, 2021
—
Cbl Store & Lock LLC
—
Deed
related
$793,282 · The Huntington National Bank
Dec 28, 2017
—
Cbl Store Lock LLC
—
Deed
related
$964,100 · The Huntington National Bank
Dec 4, 2017
$60,000
The Ten Brinks Family Trust
Roger A Draft Trust
Warranty Deed
—
Sep 24, 2012
—
Cbl Store & Lock LLC
Cbl Properties LLC
Warranty Deed
—
Nov 15, 2010
—
Cbl Store & Lock LLC
Cbl Properties 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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