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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Investment properties
228 Brg St Grand Ledge, MI 48837-1527
Individually Owned
~
Est. High Equity
Property ID
US43-2209469
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
6,254 SF
Lot
0.09 ac (3,920 SF)
Zoning code
CBD
APN
400 000 628 200 00
UPID
US43-2209469
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
-
MacDowell’s Fireplaces Hardware & Home Improvement
-
Macdowell's Flower Shop (Bike/Boat/Book/etc) Store Florist
-
Upholstery & More Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$501k
Blend (final)
Blend
$500k
Owner & transaction history
BRUCE H MACDOWELL
BRUCE H MACDOWELL
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
$500k
Range $450k – $550k · ±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
$80 / 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
$23,797
Tax year 2023
Assessed value
$215,400
Assessed 2024
Previous assessed
$213,300
+1.0% YoY
Effective rate
11.05%
On assessed value
Total market value
$430,800
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Heating
FORCED AIR
Stories
1
Total area
6,254 SF
Lot
0.09 ac (3,920 SF)
Zoning code
CBD
APN
400 000 628 200 00
UPID
US43-2209469
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
0.09 ac
Current owner
From public records · entity-resolved
BRUCE H MACDOWELL
Individual
Mailing address
228 S BRG ST, GRAND LEDGE, MI 48837-1527
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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