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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Retail space
2049 Grand Riv Ave, Okemos, MI 48864-1706
Entity Owned
4-yr Hold
Free & Clear
Property ID
US43-5180722
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2016
Total area
6,016 SF
Lot
0.92 ac (40,075 SF)
Zoning code
C-2
APN
33-02-02-21-276-006
UPID
US43-5180722
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
-
Jimmy John's Take-out & Catering Catering Service
-
Sleep Number Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$495k
CAP Approach
CAP
$640k
Comparable Approach
Comparable
$703k
Blend (final)
Blend
$660k
Owner & transaction history
Nadg Nnn Sn Jj Mi LP · 4 yrs held
Nadg Nnn Sn Jj Mi LP
since 2021
6 recorded transactions
Zoning & alternative use
C-2 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$795,000
+66.8%
Medical building
$740,000
+55.4%
Restaurant
$700,000
+47.0%
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
by Request
ML approach
$495,000
CAP Approach
CAP Return
Estimation
6%
$690,000
6.5%
$640,000
7%
$595,000
Alternative Use
Use
Estimation
RETAIL STORES
$475,000
Current use
OFFICE BUILDING
$795,000
Change: +67% · Conversion: Easy
MEDICAL BUILDING
$740,000
Change: +55% · Conversion: Difficult
RESTAURANT
$700,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$685,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$605,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±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
$110 / 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
$44,113
Tax year 2022
Assessed value
$633,300
Assessed 2023
Previous assessed
$622,500
+1.7% YoY
Effective rate
6.97%
On assessed value
Assessed land
$328,800
Assessed improvement
$304,500
Land market value
$657,600
Improvement market value
$609,000
Total market value
$1,266,600
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2016
Heating
YES
Buildings
2
Stories
1
Total area
6,016 SF
Lot
0.92 ac (40,075 SF)
Zoning code
C-2
APN
33-02-02-21-276-006
UPID
US43-5180722
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Okemos, MI
Zoning C-2 · permitted uses
C-2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$475,000
OFFICE BUILDING
Est. value
$795,000
MEDICAL BUILDING
Est. value
$740,000
RESTAURANT
Est. value
$700,000
COMMERCIAL (GENERAL)
Est. value
$685,000
AUTO REPAIR, GARAGE
Est. value
$605,000
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
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
2016
Heating
YES
Stories
1
Buildings
2
Lot
0.92 ac
Current owner
From public records · entity-resolved
Nadg Nnn Sn Jj Mi LP
Entity
Free & Clear · 4 yrs held
Mailing address
3131 MCKINNEY AVE STE L10, DALLAS, TX 75204-2430
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2021
—
Nadg Nnn Sn Jj Mi LP
Constance C Moses
Deed
—
Aug 5, 2016
—
Quarre,connie Trust
Mf Okemos LLC
Warranty Deed
related
$1,750,000 · Miscellaneous Ins Co
Nov 14, 2014
—
Mf Okemos LLC
J & J Flint Real Estate LLC
Warranty Deed
$2,262,506 · Us Bank NA
Jan 15, 2013
—
J & J Flint Real Estate LLC
J & J Burton Of Lansing R/e LLC
Quit Claim Deed
related
—
May 6, 2011
—
J & J Burton Of Lansing Real Est
Faught J E Living Trust
Quit Claim Deed
related
—
Jan 30, 2004
$625,000
Faught,james E Trust
Hatton,richard L & Elaine M
Warranty 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.
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