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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Retail residential properties
18 Washington Ave Grand Haven, MI 49417-1353
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-2445028
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Total area
4,133 SF
Lot
0.06 ac (2,526 SF)
APN
70-03-20-407-006
UPID
US43-2445028
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
-
Long Road Distillers - Grand Haven Brewery & Distillery Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$550k
Comparable Approach
Comparable
$933k
Blend (final)
Blend
$910k
Owner & transaction history
Long Road Distillers LLC · 5 yrs held
Long Road Distillers LLC
since 2020
Last sale
$750,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$610,000
+11.8%
Office building
$565,000
+3.1%
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 Grand Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Haven 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
$1,180,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$545,000
Current use
RETAIL STORES
$610,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$565,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $750k (Dec 15 2020)
Last sale anchor
$750k
Dec 15 2020
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
$220 / 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
$21,207
Tax year 2022
Assessed value
$393,100
Assessed 2023
Previous assessed
$352,800
+11.4% YoY
Effective rate
5.39%
On assessed value
Total market value
$786,200
Applied tax rate
58.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
4,133 SF
Lot
0.06 ac (2,526 SF)
APN
70-03-20-407-006
UPID
US43-2445028
Jurisdiction
OTTAWA
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL) Current
Est. value
$545,000
RETAIL STORES
Est. value
$610,000
OFFICE BUILDING
Est. value
$565,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
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
2
Buildings
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Long Road Distillers LLC
Entity
Mailing address
537 LEONARD ST NW, GRAND RAPIDS, MI 49504-4263
Ownership since
2020
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
Dec 15, 2020
$750,000
Long Road Distillers LLC
Melissa Muskovin
Warranty Deed
—
Dec 15, 2020
—
River Bed Investors LLC
Long Road Distillers LLC
Warranty Deed
$1,000,000 · Grand River Bank
Mar 5, 2020
—
Shelby State Bank
Suzanne Neuman
Assignment Of Deed
$510,000 · The Shelby State Bank
May 21, 2007
—
Suzanne Neuman
Suzanne Neuman
Intrafamily Transfer
related
$456,656 · Independent Bank West Michigan
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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