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Property profile & analytics
OFF-MARKET
Estimated value
$145,000
Retail space
216 Brg St Grand Ledge, MI 48837-1527
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US43-2336277
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Total area
2,376 SF
Lot
0.07 ac (3,049 SF)
Zoning code
CBD
APN
400 000 628 250 00
UPID
US43-2336277
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
-
Le'Mae Photography Photography Service (Bike/Boat/Book/etc) Store
-
N-Zo Moments Photography (Bike/Boat/Book/etc) Store Photography Service
-
Little Shutter Bug Studio, LLC Wedding Service Photography Service
-
Tap House Boutique Clothing & Fashion Store
-
Skin Sanctuary Esthetics Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$145k
Owner & transaction history
Betty A Macdowell · 10 yrs held
Betty A Macdowell
since 2016
2 recorded transactions
Zoning & alternative use
CBD · Grand Ledge, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Central Business District is intended to be a distinct area containing a unique collection of retail shops, activities, and services that benefit from a synergistic relationship to one another
Zone name
Central Business District
General category
COMMERCIAL
Zone area
35.00 ac
Source
Realmo
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 Grand Ledge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Ledge 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$145k
Range $131k – $160k · ±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
$61 / 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
$8,972
Tax year 2023
Assessed value
$117,700
Assessed 2024
Previous assessed
$116,500
+1.0% YoY
Effective rate
7.62%
On assessed value
Total market value
$235,400
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1900
Heating
FORCED AIR
Stories
1
Total area
2,376 SF
Lot
0.07 ac (3,049 SF)
Zoning code
CBD
APN
400 000 628 250 00
UPID
US43-2336277
Jurisdiction
EATON
Zoning & alternative use
CBD · Grand Ledge, MIZoning CBD · permitted uses
CBD · Grand Ledge, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Central Business District is intended to be a distinct area containing a unique collection of retail shops, activities, and services that benefit from a synergistic relationship to one another
Zone name
Central Business District
General category
COMMERCIAL
Zone area
35.00 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1900
Heating
FORCED AIR
Stories
1
Lot
0.07 ac
Current owner
From public records · entity-resolved
Betty A Macdowell
Individual
Mailing address
421 MADISON ST, GRAND LEDGE, MI 48837-1141
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2016
—
Betty A Macdowell
Harlan L Macdowell
Intrafamily Transfer
related
—
Oct 18, 2005
—
Betty A Macdowell
Harlan L Macdowell
Intrafamily Transfer
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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