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Property profile & analytics
OFF-MARKET
Estimated value
$1,835,000
Turn key restaurants
2305 Grand Riv Ave Okemos, MI 48864-1648
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US43-1008235
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1980
Total area
29,216 SF
Lot
2.59 ac (112,820 SF)
Zoning code
C-2
APN
33-02-02-21-131-002
UPID
US43-1008235
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
-
Lotte Market Grocery & Convenience Store Food Market
-
Golden Fish & Chips Restaurant
-
Amazon Counter - Lotte Market Courier Service Postal Service
-
Lotte Market (롯데마켓) Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.70M
Blend (final)
Blend
$1.84M
Owner & transaction history
Jjv Properties LLC · 10 yrs held
Jjv Properties LLC
since 2016
4 recorded transactions
Zoning & alternative use
C-2 · Okemos, 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 Okemos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Okemos 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
AUTO REPAIR, GARAGE
$2,940,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.84M
Range $1.65M – $2.02M · ±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
$63 / 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
$86,436
Tax year 2022
Assessed value
$1,332,000
Assessed 2023
Previous assessed
$1,247,600
+6.8% YoY
Effective rate
6.49%
On assessed value
Assessed land
$508,600
Assessed improvement
$823,400
Land market value
$1,017,200
Improvement market value
$1,646,800
Total market value
$2,664,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1980
Heating
YES
Buildings
3
Stories
1
Total area
29,216 SF
Lot
2.59 ac (112,820 SF)
Zoning code
C-2
APN
33-02-02-21-131-002
UPID
US43-1008235
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Okemos, MI
Zoning C-2 · permitted uses
C-2 · Okemos, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Okemos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.9M
AUTO REPAIR, GARAGE
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
1980
Heating
YES
Stories
1
Buildings
3
Lot
2.59 ac
Current owner
From public records · entity-resolved
Jjv Properties LLC
Entity
Mailing address
333 ALBERT AVE STE #202, EAST LANSING, MI 48823-4351
Ownership since
2016
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
Feb 6, 2020
—
Jjv Properties LLC
—
Deed
related
—
May 20, 2016
—
Jjv Properties LLC
Vlahakis,john
Quit Claim Deed
related
—
Jan 27, 2012
—
Jjv Properties LLC
John J Vlahakis
Warranty Deed
$1,227,945 · Michigan State University FCU
—
—
John J Vlahakis
—
Deed Of Trust
related
$1,400,000 · Bank One NA
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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