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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    214 Jefferson St Grand Ledge, MI 48837-1537

    • Office buildings
    • 2,514 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Jul 07, 2023
    $220,000
    Value Estimations
    $225,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-2449609
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Harry O. Culp Insurance Agency / Insurance Agency

    Property Details for 214 Jefferson St

    Lot size
    0.25 lot acres
    Property size
    2,514 SF
    Zone code
    CBD
    Property type
    Office buildings
    APN
    400 000 634 100 00
    APU
    40000063410000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $220,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $245,000
      Market price range: $117k - $279k
      AI Estimate
      $245,000
      Market price range: $117k - $279k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $195,000
      Current use
      COMMERCIAL (GENERAL)
      $275,000
      Change: +40% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Grand Ledge
    County
    Eaton
    State
    Michigan
    Longitude
    -84.7451
    Latitude
    42.7519
    CBSA code
    29620
    CBSA name
    LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,815
    $0.00
    $0.00
    $106,800
    -
    $0.00
    $0.00
    $213,600

    Comparable in this City

    • Value Estimation by Request
      13,200 SF

      150 Orch St

      OFFICE BUILDING • 13,200 SF
      150 Orch St, Grand Ledge, MI 48837-1210
      View Details
    • Value Estimation by Request
      3,360 SF

      400 Brg St

      OFFICE BUILDING • 3,360 SF
      400 Brg St, Grand Ledge, MI 48837-1728
      View Details
    • Value Estimation by Request
      2,880 SF

      313 Clinton St

      OFFICE BUILDING • 2,880 SF
      313 Clinton St, Grand Ledge, MI 48837-2003
      View Details
    • Value Estimation by Request
      1,983 SF

      410 Clinton St

      OFFICE BUILDING • 1,983 SF
      410 Clinton St, Grand Ledge, MI 48837-2000
      View Details
    • Value Estimation by Request
      2,808 SF

      426 Clinton St

      OFFICE BUILDING • 2,808 SF
      426 Clinton St, Grand Ledge, MI 48837-2000
      View Details
    • Value Estimation by Request
      1,802 SF

      912 Charlevoix Dr Ste, Unit 120

      OFFICE BUILDING • 1,802 SF
      912 Charlevoix Dr Ste, Grand Ledge, MI 48837-2299
      View Details

    Similar Nearby for Sale

    • New
      $225,000
      1,571 SF

      Mancino's Grinders and Pizza

      Incredible Business Opportunity!
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      View Details
    • $3,636,000
      70.63 Acres

      Grand Ledge Land For Sale

      70.63 acre development land in Grand Ledge, Michigan.
      7051 E Saginaw Hwy, Grand Ledge, MI 48837
      View Details
    • $645,000

      Prime Grand Ledge Development Land

      17.77 Acres, C-2 Zoning, High Visibility
      0 Saginaw Hwy, Grand Ledge, MI 48837
      View Details
    • $1,499,000
      11,080 SF

      Grand Ledge Retail Building - $1.5M

      Vacant Freestanding Retail, High Traffic
      715 Clinton St, Grand Ledge, MI 48837
      View Details
    • $1,500,000
      13.49 Acres

      Grand Ledge Development Land

      13.49 acres of prime building land in Grand Ledge.
      702 W Main St, Grand Ledge, MI 48837
      View Details
    • $4,000,000
      63 SF

      Grand Ledge Development Land

      63.57 acres of prime development land for sale.
      M-100/E St Joe Hwy, Grand Ledge, MI 48837
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      2,200 SF

      Freestanding Office in Cedar Village

      2,200 sq ft office space in Grand Ledge, MI.
      625 E Saginaw Hwy, Grand Ledge, MI 48837
      View Details
    • $10 SF/Yr
      23,741 SF

      Grand Ledge Retail Center Investment

      Prime Retail Space Available in Grand Ledge, MI
      635 Saginaw Hwy, Grand Ledge, MI 48837
      View Details
    • $12 SF/Yr
      23,741 SF

      Grand Ledge Retail Center Investment

      High-traffic retail space near Meijer
      635 Saginaw Hwy, Grand Ledge, MI 48837
      View Details
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    214 Jefferson St
    Grand Ledge, MI 48837-1537
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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