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Property profile & analytics
OFF-MARKET
Estimated value
$430,000
Flex space
18688 174th Ave Spring Lake, MI 49456-9759
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-2082496
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1973
Total area
6,000 SF
Lot
1.98 ac (86,249 SF)
Zoning code
I INDU
APN
70-03-04-300-069
UPID
US43-2082496
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$613k
Blend (final)
Blend
$430k
Owner & transaction history
Northbound Realty LLC · 6 yrs held
Northbound Realty LLC
since 2019
2 recorded transactions
Zoning & alternative use
I INDU · Spring Lake, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$890,000
+68.9%
Office building
$820,000
+55.8%
Commercial (general)
$795,000
+51.1%
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 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)
$525,000
Current use
RETAIL STORES
$890,000
Change: +69% · Conversion: Moderate
OFFICE BUILDING
$820,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$795,000
Change: +51% · Conversion: Difficult
AUTO REPAIR, GARAGE
$665,000
Change: +26% · Conversion: Easy
WAREHOUSE, STORAGE
$645,000
Change: +22% · Conversion: Easy
Blend value · Realmo final
$430k
Range $387k – $473k · ±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
$72 / 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
$8,220
Tax year 2022
Assessed value
$234,300
Assessed 2023
Previous assessed
$220,100
+6.5% YoY
Effective rate
3.51%
On assessed value
Total market value
$468,600
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1973
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
6,000 SF
Lot
1.98 ac (86,249 SF)
Zoning code
I INDU
APN
70-03-04-300-069
UPID
US43-2082496
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
$525,000
RETAIL STORES
Est. value
$890,000
OFFICE BUILDING
Est. value
$820,000
COMMERCIAL (GENERAL)
Est. value
$795,000
AUTO REPAIR, GARAGE
Est. value
$665,000
WAREHOUSE, STORAGE
Est. value
$645,000
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
Year built
1973
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
1.98 ac
Current owner
From public records · entity-resolved
Northbound Realty LLC
Entity
Mailing address
555 STEKETEE RD NE, ADA, MI 49301-8765
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
Aug 16, 2024
—
Northbound Realty LLC
—
Deed
related
$3,300,000 · Mercantile Bank & Trust Fsb
Dec 30, 2019
—
Northbound Realty LLC
D 4 Properties LLC
Warranty Deed
$310,000 · Chemical Bank
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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