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Property profile & analytics
OFF-MARKET
Estimated value
$4,640,000
Warehouses
1778 Chicago Dr Jenison, MI 49428-9308
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US43-2426831
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Total area
30,190 SF
Lot
4.54 ac (197,762 SF)
Zoning code
HS
APN
70-14-22-450-017
UPID
US43-2426831
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
-
Prestige Storage - Jenison Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.64M
Blend (final)
Blend
$4.64M
Owner & transaction history
Jenison Storage LLC · 4 yrs held
Jenison Storage LLC
since 2022
4 recorded transactions
Zoning & alternative use
HS · Jenison, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.5M
+38.0%
Office building
$4.1M
+27.2%
Commercial (general)
$4.0M
+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 Jenison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jenison 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
$3,240,000
Current use
RETAIL STORES
$4,470,000
Change: +38% · Conversion: Moderate
OFFICE BUILDING
$4,120,000
Change: +27% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,995,000
Change: +23% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,335,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$4.64M
Range $4.18M – $5.10M · ±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
$154 / 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
$32,435
Tax year 2022
Assessed value
$1,664,400
Assessed 2023
Previous assessed
$700,500
+137.6% YoY
Effective rate
1.95%
On assessed value
Total market value
$3,328,800
Applied tax rate
15.0000
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
Heating
FORCED AIR
Buildings
7
Stories
1
Total area
30,190 SF
Lot
4.54 ac (197,762 SF)
Zoning code
HS
APN
70-14-22-450-017
UPID
US43-2426831
Jurisdiction
OTTAWA
Zoning & alternative use
HS · Jenison, MIZoning HS · permitted uses
HS · Jenison, 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
WAREHOUSE, STORAGE Current
Est. value
$3.2M
RETAIL STORES
Est. value
$4.5M
OFFICE BUILDING
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.3M
WAREHOUSE, STORAGE Current
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
7
Lot
4.54 ac
Current owner
From public records · entity-resolved
Jenison Storage LLC
Entity
Mailing address
PO BOX 16281, COLUMBUS, OH 43216-6281
Ownership since
2022
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
Mar 30, 2022
—
Jenison Storage LLC
Space Squared Self Storage LLC
Warranty Deed
$10,400,000 · Civista Bank
Apr 23, 2021
—
Space Squared Self Storage LLC
P2 7 INC
Quit Claim Deed
related
—
Jul 25, 2018
—
P27 INC
—
Deed
related
$1,200,000 · Independent Bank
Mar 26, 2018
—
Edward J Hanenburg
Green Meadow Farms
Quit Claim 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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