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Property profile & analytics
OFF-MARKET
Estimated value
$1,560,000
Drug stores
2131 Grand Riv Ave, Okemos, MI 48864-1601
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-2392592
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2012
Total area
14,212 SF
Lot
1.44 ac (62,944 SF)
Zoning code
C-2
APN
33-02-02-21-254-037
UPID
US43-2392592
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
-
FedEx OnSite Postal Service Courier Service
-
Walgreens Pharmacy
-
Walgreens Pharmacy Pharmacy
-
Western Union Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.51M
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.56M
Owner & transaction history
3s Realty LLC · 6 yrs held
3s Realty LLC
since 2019
5 recorded transactions
Zoning & alternative use
C-2 · Okemos, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+66.8%
Medical building
$1.8M
+55.4%
Restaurant
$1.7M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,635,000
6.5%
$1,510,000
7%
$1,400,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,125,000
Current use
OFFICE BUILDING
$1,880,000
Change: +67% · Conversion: Easy
MEDICAL BUILDING
$1,750,000
Change: +55% · Conversion: Difficult
RESTAURANT
$1,655,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,625,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,430,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$1.56M
Range $1.40M – $1.72M · ±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 2019Property tax & assessments
Tax year 2019
Tax billed
$92,437
Tax year 2019
Assessed value
$1,470,300
Assessed 2023
Previous assessed
$1,549,900
-5.1% YoY
Effective rate
6.29%
On assessed value
Assessed land
$582,400
Assessed improvement
$887,900
Land market value
$1,164,800
Improvement market value
$1,775,800
Total market value
$2,940,600
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2012
Heating
YES
Stories
1
Total area
14,212 SF
Lot
1.44 ac (62,944 SF)
Zoning code
C-2
APN
33-02-02-21-254-037
UPID
US43-2392592
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
$1.1M
OFFICE BUILDING
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.8M
RESTAURANT
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
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
2012
Heating
YES
Stories
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
3s Realty LLC
Entity
Free & Clear · 6 yrs held
Mailing address
2 FILASKY CT, GLEN HEAD, NY 11545-2756
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 22, 2019
—
3s Realty LLC
Hannawa-lahser Road Dev LLC
Warranty Deed
—
Mar 8, 2012
$5,226,000
Hannawa-lahser Road Dev LLC
Okemos Of Grand River Group LLC
Trustees Deed
$3,920,000 · Fidelity Bank NA
Mar 11, 2011
$257,500
Musselman LLC
Ledebuhr M M Trust
Warranty Deed
—
Mar 11, 2011
—
Okemos Of Grand River Group LLC
Musselman LLC
Warranty Deed
$3,473,468 · Independent Bank
—
—
Hannawa-lahser Road Dev LLC
—
Deed Of Trust
related
$5,300,000 · Wells Fargo Bk Nw NA (ce)
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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