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Property profile & analytics
OFF-MARKET
Estimated value
$1,545,000
Retail properties & Spaces
1982 Grand Riv Ave, Okemos, MI 48864-1736
Entity Owned
21-yr Hold
Free & Clear
Property ID
US43-1532389
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1982
Total area
153,384 SF
Lot
9.47 ac (412,513 SF)
Zoning code
C-3
APN
33-02-02-22-101-006
UPID
US43-1532389
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
-
Chapbook Café Cafe & Coffee Shop
-
Fast Jewelers (Bike/Boat/Book/etc) Store
-
Gold & Diamonds (Bike/Boat/Book/etc) Store
-
Hot Topic Clothing Store Fashion Accessories Store
-
High Caliber Karting and Entertainment Arcade & Gaming Center Family Recreation Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.55M
Owner & transaction history
May Department Stores Co · 21 yrs held
May Department Stores Co
since 2004
Last sale
$1.5M
1 recorded transaction
Zoning & alternative use
C-3 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Okemos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Okemos 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
$1,415,000
ML approach
$1,765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.55M
Range $1.39M – $1.70M · ±10% · vs last sale $1.50M (Feb 12 2025)
Last sale anchor
$1.50M
Feb 12 2025
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
$10 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$138,754
Tax year 2019
Assessed value
$1,887,700
Assessed 2023
Previous assessed
$1,884,800
+0.2% YoY
Effective rate
7.35%
On assessed value
Assessed land
$825,000
Assessed improvement
$1,062,700
Land market value
$1,650,000
Improvement market value
$2,125,400
Total market value
$3,775,400
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1982
Heating
YES
Stories
1
Total area
153,384 SF
Lot
9.47 ac (412,513 SF)
Zoning code
C-3
APN
33-02-02-22-101-006
UPID
US43-1532389
Jurisdiction
INGHAM
Zoning & alternative use
C-3 · Okemos, MI
Zoning C-3 · permitted uses
C-3 · Okemos, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Okemos. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1982
Heating
YES
Stories
1
Lot
9.47 ac
Current owner
From public records · entity-resolved
May Department Stores Co
Entity
Free & Clear · 21 yrs held
Mailing address
145 PROGRESS PL, SPRINGDALE, OH 45246-1717
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2004
—
May Department Stores Co
Target Corp
Quit Claim 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.
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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