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Property profile & analytics
OFF-MARKET
Retail space
2255 Alpine NW Ave, Grand Rapids, MI 49544-1952
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-1972120
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1988
Total area
1,800 SF
Lot
0.23 ac (9,801 SF)
Zoning code
C-3
APN
41-13-11-429-003
UPID
US43-1972120
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
-
Grand Rapids Cheesecake Company Bakery Specialty Food Shop
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
Blue Water Companies LLC · 5 yrs held
Blue Water Companies LLC
since 2020
Last sale
$225,000
5 recorded transactions
Zoning & alternative use
C-3 · Grand Rapids, 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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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
$5,371
Tax year 2023
Assessed value
$167,300
Assessed 2024
Previous assessed
$159,700
+4.8% YoY
Effective rate
3.21%
On assessed value
Total market value
$334,600
Applied tax rate
86.0000
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
1988
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
1,800 SF
Lot
0.23 ac (9,801 SF)
Zoning code
C-3
APN
41-13-11-429-003
UPID
US43-1972120
Jurisdiction
KENT
Zoning & alternative use
C-3 · Grand Rapids, MI
Zoning C-3 · permitted uses
C-3 · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1988
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Blue Water Companies LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2255 ALPINE AVE NW, GRAND RAPIDS, MI 49544-1952
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2020
$225,000
Blue Water Companies LLC
2255 Alpine LLC
Warranty Deed
—
Aug 26, 2009
—
Blue Water Companies LLC
2255 Alpine LLC
Grant Deed
—
Sep 20, 2004
—
2255 Alpine LLC
Landman,shawn
Quit Claim Deed
related
—
May 14, 2002
—
Shawn Landman
Riverview Land Development Co
Quit Claim Deed
related
—
—
—
Riverview Land Development Co
—
Deed Of Trust
related
$97,152 · Michigan National 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.
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