New search
Property profile & analytics
OFF-MARKET
Retail space
219 Michigan Ave Grayling, MI 49738-1742
Individually Owned
10-yr Hold
Free & Clear
Property ID
US43-3292076
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1956
Total area
5,262 SF
Lot
0.13 ac (5,562 SF)
Zoning code
CBD
APN
070-100-015-012-02
UPID
US43-3292076
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
-
Our Town Coffee & Treats Cafe & Coffee Shop
-
AuSable Artisan Village Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ausable Artisan Village · 10 yrs held
Ausable Artisan Village
since 2015
4 recorded transactions
Zoning & alternative use
CBD · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,218
Tax year 2023
Assessed value
$211,100
Assessed 2024
Previous assessed
$136,400
+54.8% YoY
Effective rate
3.42%
On assessed value
Assessed land
$11,100
Assessed improvement
$200,000
Land market value
$22,200
Improvement market value
$400,000
Total market value
$422,200
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
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
1956
Heating
FORCED AIR
Stories
1
Total area
5,262 SF
Lot
0.13 ac (5,562 SF)
Zoning code
CBD
APN
070-100-015-012-02
UPID
US43-3292076
Jurisdiction
CRAWFORD
Zoning & alternative use
CBD · Grayling, MI
Zoning CBD · permitted uses
CBD · 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
1956
Heating
FORCED AIR
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Ausable Artisan Village
Individual
Free & Clear · 10 yrs held
Mailing address
219 E MICHIGAN AVE, GRAYLING, MI 49738-1742
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
Aug 2, 2018
—
Au Sable Artisan Village
—
Deed
related
$29,000 · Whittaker T
Aug 1, 2018
—
Au Sable Artisan Village
—
Deed
related
$115,000 · State Savings Bank
Aug 26, 2015
$150,000
Ausable Artisan Village
Fbmi LLC
Warranty Deed
—
Jan 16, 2015
$250,000
Fbmi LLC
Catherine Catherine
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 219 Michigan Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
