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Property profile & analytics
OFF-MARKET
Estimated value
$3,995,000
Flex space
17127 Hickory St Spring Lake, MI 49456-9712
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US43-2445511
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Total area
60,240 SF
Lot
17.77 ac (774,018 SF)
Zoning code
I INDU
APN
70-03-04-200-020
UPID
US43-2445511
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
-
Active Manufacturing Co Industrial Manufacturer Production Facility
-
Carter Aerospace Corporate Office Factory
-
Pro Enterpriz Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.99M
Blend (final)
Blend
$4.00M
Owner & transaction history
Tempe Leasing LLC · 20 yrs held
Tempe Leasing LLC
since 2005
2 recorded transactions
Zoning & alternative use
I INDU · Spring Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$6.7M
+26.1%
Warehouse, storage
$6.5M
+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)
$5,280,000
Current use
AUTO REPAIR, GARAGE
$6,655,000
Change: +26% · Conversion: Easy
WAREHOUSE, STORAGE
$6,465,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$4.00M
Range $3.60M – $4.39M · ±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
$66 / 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
$30,483
Tax year 2022
Assessed value
$1,525,700
Assessed 2023
Previous assessed
$1,426,400
+7.0% YoY
Effective rate
2.00%
On assessed value
Total market value
$3,051,400
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
60,240 SF
Lot
17.77 ac (774,018 SF)
Zoning code
I INDU
APN
70-03-04-200-020
UPID
US43-2445511
Jurisdiction
OTTAWA
Zoning & alternative use
I INDU · Spring Lake, MIZoning I INDU · permitted uses
I INDU · 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
$5.3M
AUTO REPAIR, GARAGE
Est. value
$6.7M
WAREHOUSE, STORAGE
Est. value
$6.5M
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
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
17.77 ac
Current owner
From public records · entity-resolved
Tempe Leasing LLC
Entity
Mailing address
17127 HICKORY ST, SPRING LAKE, MI 49456-9712
Ownership since
2005
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 11, 2005
—
Tempe Leasing LLC
Macatawa Bank
Quit Claim Deed
related
$1,300,000 · Macatawa Bank
Feb 3, 2005
$1,652,338
Macatawa Bank
Rycenga Investments LLC
Sheriffs Deed
related
—
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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