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Property profile & analytics
OFF-MARKET
Estimated value
$10,975,000
Industrial properties
1950 Waldorf NW St, Grand Rapids, MI 49544-1488
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-1820400
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1972
Total area
268,146 SF
Lot
13.31 ac (579,784 SF)
Zoning code
ML
APN
41-13-10-401-001
UPID
US43-1820400
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
-
Valorous QuickSites Marketing & Advertising (Bike/Boat/Book/etc) Store
-
The Keenan Legal Group PLLC Law Firm
-
Calvary Chapel Riverside Church
-
Vital Records Control Storage Facility
-
Cosmich Simmons & Brown, PLLC Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.97M
Blend (final)
Blend
$10.98M
Owner & transaction history
1950 Waldrof LLC · 2 yrs held
1950 Waldrof LLC
since 2024
7 recorded transactions
Zoning & alternative use
ML · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$16.6M
+34.5%
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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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)
$12,355,000
Current use
AUTO REPAIR, GARAGE
$16,610,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$10.98M
Range $9.88M – $12.07M · ±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
$41 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$182,164
Tax year 2021
Assessed value
$5,814,100
Assessed 2023
Previous assessed
$5,814,100
+0.0% YoY
Effective rate
3.13%
On assessed value
Total market value
$11,628,200
Applied tax rate
86.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1972
Heating
FORCED AIR
Buildings
9
Stories
1
Total area
268,146 SF
Lot
13.31 ac (579,784 SF)
Zoning code
ML
APN
41-13-10-401-001
UPID
US43-1820400
Jurisdiction
KENT
Zoning & alternative use
ML · Grand Rapids, MI
Zoning ML · permitted uses
ML · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$12.4M
AUTO REPAIR, GARAGE
Est. value
$16.6M
INDUSTRIAL (GENERAL) Current
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
Year built
1972
Heating
FORCED AIR
Stories
1
Buildings
9
Lot
13.31 ac
Current owner
From public records · entity-resolved
1950 Waldrof LLC
Entity
Mailing address
2066 BRISTOL AVE NW, GRAND RAPIDS, MI 49504-1402
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2025
—
1950 Waldrof LLC
—
Deed
related
$6,250,000 · Horizon Bank
May 17, 2024
—
1950 Waldrof LLC
Offsite Walker L L C
Warranty Deed
—
Aug 20, 2019
—
Offsite Walker LLC
—
Grant Deed
related
$6,900,000 · Independent Bk
Jul 3, 2017
—
Offsite Walker LLC
—
Trustees Deed
related
$3,700,000 · Chemical Bk
Oct 25, 2005
$3,200,000
Offsite Walker LLC
Frost & George LLC
Warranty Deed
$4,107,411 · Byron Bank
Apr 16, 2002
—
Frost & George LLC
Michigan Bulb Co
Grant Deed
$3,300,000 · Byron Center State Bank
—
—
Offsite Walker LLC
—
Deed Of Trust
related
$910,000 · Byron Bank
—
—
Offsite Walker LLC
—
Deed Of Trust
related
$4,200,000 · Byron 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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