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Property profile & analytics
OFF-MARKET
Estimated value
$1,955,000
Commercial real estate
2243 Prt Sheldon St, Jenison, MI 49428-9307
Entity Owned
~
Est. High Equity
Property ID
US43-2077185
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1996
Total area
21,204 SF
Lot
1.56 ac (67,954 SF)
Zoning code
NS
APN
70-14-22-364-004
UPID
US43-2077185
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
-
Advanced Interiors Cabinet Showroom Hardware & Home Improvement Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.96M
Owner & transaction history
Graecy Properties LLC
Graecy Properties LLC
since 2026
3 recorded transactions
Zoning & alternative use
NS · Jenison, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.1M
+11.8%
Office building
$2.9M
+3.1%
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 Jenison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jenison 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
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,805,000
Current use
RETAIL STORES
$3,140,000
Change: +12% · Conversion: Easy
OFFICE BUILDING
$2,895,000
Change: +3% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,345,000
Change: -17% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,275,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.96M
Range $1.76M – $2.15M · ±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
$92 / 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
$23,513
Tax year 2022
Assessed value
$616,300
Assessed 2023
Previous assessed
$507,800
+21.4% YoY
Effective rate
3.82%
On assessed value
Total market value
$1,232,600
Applied tax rate
15.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
AC.PACKAGE
Buildings
6
Stories
1
Total area
21,204 SF
Lot
1.56 ac (67,954 SF)
Zoning code
NS
APN
70-14-22-364-004
UPID
US43-2077185
Jurisdiction
OTTAWA
Zoning & alternative use
NS · Jenison, MI
Zoning NS · permitted uses
NS · Jenison, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jenison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.8M
RETAIL STORES
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.3M
WAREHOUSE, STORAGE
Est. value
$2.3M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
6
Lot
1.56 ac
Current owner
From public records · entity-resolved
Graecy Properties LLC
Entity
Mailing address
230 FULTON ST E #9, GRAND RAPIDS, MI 49503-3211
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2026
—
Graecy Properties LLC
2243 Port Sheldon LLC
Warranty Deed
$1,400,000 · Lake Michigan Credit Union
Sep 15, 2020
—
2243 Port Sheldon LLC
Jims Enterprises INC
Warranty Deed
$1,078,425 · Mercantile Bank Of Michigan
Feb 22, 2018
—
Jim Enterprise INC
—
Deed
related
$600,000 · Comerica Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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