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Property profile & analytics
FOR SALE
Commercial real estate
2245 Charlevoix Ave Petoskey, MI 49770
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3419173
For Sale
1 / 23
$1,250,000
2245 Charlevoix Ave, Petoskey, MI 49770
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1970
Total area
2,336 SF
Lot
1.25 ac (54,450 SF)
Zoning code
RT B-2
APN
13-18-01-300-006
UPID
US43-3419173
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$955k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.04M
Owner & transaction history
Lake Effect Investment Solutions Ll · 1 yrs held
Lake Effect Investment Solutions Ll
since 2025
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
RT B-2 · Petoskey, 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 Petoskey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Petoskey 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
$1,030,000
ML approach
$955,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.04M
Range $932k – $1.14M · ±10% · vs last sale $1.08M (Apr 25 2025)
Last sale anchor
$1.08M
Apr 25 2025
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
$443 / 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
Property tax & assessments
Assessed value
$267,100
Assessed 2023
Previous assessed
$263,400
+1.4% YoY
Assessed land
$87,800
Assessed improvement
$179,300
Land market value
$175,600
Improvement market value
$358,600
Total market value
$534,200
Applied tax rate
13.0000
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
For Sale
Year built
1970
Stories
1
Units
1
Total area
2,336 SF
Lot
1.25 ac (54,450 SF)
Zoning code
RT B-2
APN
13-18-01-300-006
UPID
US43-3419173
Jurisdiction
EMMET
Zoning & alternative use
RT B-2 · Petoskey, MI
Zoning RT B-2 · permitted uses
RT B-2 · Petoskey, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Petoskey. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1970
Stories
1
Units
1
Lot
1.25 ac
Current owner
From public records · entity-resolved
Lake Effect Investment Solutions Ll
Entity
Mailing address
5090 BROOKDALE RD, BLOOMFIELD HILLS, MI 48304-3610
Ownership since
2025
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
Apr 25, 2025
$1,075,000
Lake Effect Investment Solutions Ll
Jp Mcdonald Properties LLC
Warranty Deed
$830,000 · Citizens National Bank Of Cheboygan
Apr 21, 2025
—
Lake Effect Investment Solutio
—
Deed
related
$830,000 · Citizens National Bank Of Cheboygan
Oct 31, 2019
—
Jpmcdonald Properties LLC
—
Deed
related
$150,000 · Fifth Third Bank
Feb 16, 2018
$500,000
Jpmcdonald Properties LLC
Great Lakes Investments
Warranty Deed
$400,000 · Fifth Third 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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