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Property profile & analytics
OFF-MARKET
Estimated value
$8,070,000
Warehouses
16933 144th Ave, Nunica, MI 49448-9667
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-3241561
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Total area
64,143 SF
Lot
11.43 ac (497,891 SF)
Zoning code
LI
APN
70-03-13-400-060
UPID
US43-3241561
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
-
Shape Corporation Industrial Manufacturer Production Facility
-
Ridgeview Industries Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.07M
Blend (final)
Blend
$8.07M
Owner & transaction history
B R Metal Products INC · 6 yrs held
B R Metal Products INC
since 2019
2 recorded transactions
Zoning & alternative use
LI · Nunica, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.5M
+38.0%
Office building
$8.8M
+27.2%
Commercial (general)
$8.5M
+23.4%
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 Nunica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nunica 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
$6,885,000
Current use
RETAIL STORES
$9,495,000
Change: +38% · Conversion: Moderate
OFFICE BUILDING
$8,755,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,490,000
Change: +23% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,090,000
Change: +3% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,620,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$8.07M
Range $7.26M – $8.88M · ±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
$126 / 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
$63,913
Tax year 2022
Assessed value
$2,897,100
Assessed 2023
Previous assessed
$2,485,100
+16.6% YoY
Effective rate
2.21%
On assessed value
Total market value
$5,794,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Heating
FORCED AIR
Buildings
13
Stories
1
Total area
64,143 SF
Lot
11.43 ac (497,891 SF)
Zoning code
LI
APN
70-03-13-400-060
UPID
US43-3241561
Jurisdiction
OTTAWA
Zoning & alternative use
LI · Nunica, MI
Zoning LI · permitted uses
LI · Nunica, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nunica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$6.9M
RETAIL STORES
Est. value
$9.5M
OFFICE BUILDING
Est. value
$8.8M
COMMERCIAL (GENERAL)
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$7.1M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
WAREHOUSE, STORAGE Current
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
Heating
FORCED AIR
Stories
1
Buildings
13
Lot
11.43 ac
Current owner
From public records · entity-resolved
B R Metal Products INC
Entity
Free & Clear · 6 yrs held
Mailing address
1900 HAYES ST, GRAND HAVEN, MI 49417-8937
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Jul 22, 2019
—
B R Metal Products INC
Jerry Vaneizenga
Deed
—
Oct 17, 2008
—
Shape Corp
B R Metal Products INC
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.
Try Rey
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