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Property profile & analytics
OFF-MARKET
Estimated value
$5,190,000
Drug stores
2045 I 75th Business Loop Grayling, MI 49738-2039
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-3801569
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Total area
13,565 SF
Lot
1.71 ac (74,488 SF)
Zoning code
C-3B
APN
070-017-006-060-01
UPID
US43-3801569
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy
-
Walgreens Pharmacy Pharmacy
-
LibertyX Bitcoin ATM Atm
-
FedEx OnSite Postal Service Courier Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.19M
Owner & transaction history
Oak Street Investment Grade Net Lea · 5 yrs held
Oak Street Investment Grade Net Lea
since 2020
Last sale
$5.0M
4 recorded transactions
Zoning & alternative use
C-3B · Grayling, 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 Grayling submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayling 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
$5,470,000
ML approach
$5,370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.19M
Range $4.67M – $5.71M · ±10% · vs last sale $4.96M (Dec 10 2020)
Last sale anchor
$4.96M
Dec 10 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
$383 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$30,341
Tax year 2023
Assessed value
$656,900
Assessed 2024
Previous assessed
$486,700
+35.0% YoY
Effective rate
4.62%
On assessed value
Assessed land
$47,300
Assessed improvement
$609,600
Land market value
$94,600
Improvement market value
$1,219,200
Total market value
$1,313,800
Applied tax rate
70.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2008
Heating
FORCED AIR
Stories
1
Total area
13,565 SF
Lot
1.71 ac (74,488 SF)
Zoning code
C-3B
APN
070-017-006-060-01
UPID
US43-3801569
Jurisdiction
CRAWFORD
Zoning & alternative use
C-3B · Grayling, MI
Zoning C-3B · permitted uses
C-3B · Grayling, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grayling. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2008
Heating
FORCED AIR
Stories
1
Lot
1.71 ac
Current owner
From public records · entity-resolved
Oak Street Investment Grade Net Lea
Entity
Free & Clear · 5 yrs held
Mailing address
125 S WACKER DR STE #1220, CHICAGO, IL 60606-4430
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 10, 2020
$4,960,000
Oak Street Investment Grade Net Lea
Wbgrmi001 LLC
Warranty Deed
—
Dec 10, 2020
—
Oak Street Investment Grade Ne
—
Deed
related
—
Mar 4, 2020
—
Wbgrmi001 LLC
—
Deed
related
$27,100,000 · Key Bank
Oct 30, 2019
—
Wbgrm1001 LLC
Waltrust Properties INC
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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