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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Distribution centers
2306 Industrial Dr Grayling, MI 49738-7849
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-2945290
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1980
Total area
5,432 SF
Lot
0.69 ac (30,056 SF)
Zoning code
I
APN
070-160-000-006-00
UPID
US43-2945290
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
$1.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.01M
Owner & transaction history
Jp'n Sons Warehousing LLC · 3 yrs held
Jp'n Sons Warehousing LLC
since 2023
Last sale
$960,000
3 recorded transactions
Zoning & alternative use
I · Grayling, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$920,000
+243.3%
Office building
$735,000
+173.0%
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 Grayling submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayling 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
$1,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$920,000
Change: +243% · Conversion: Difficult
OFFICE BUILDING
$735,000
Change: +173% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10% · vs last sale $960k (Jan 9 2023)
Last sale anchor
$960k
Jan 9 2023
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
$186 / 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
$3,145
Tax year 2023
Assessed value
$66,600
Assessed 2024
Previous assessed
$50,400
+32.1% YoY
Effective rate
4.72%
On assessed value
Assessed land
$17,800
Assessed improvement
$48,800
Land market value
$35,600
Improvement market value
$97,600
Total market value
$133,200
Applied tax rate
70.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1980
Heating
FORCED AIR
Stories
1
Total area
5,432 SF
Lot
0.69 ac (30,056 SF)
Zoning code
I
APN
070-160-000-006-00
UPID
US43-2945290
Jurisdiction
CRAWFORD
Zoning & alternative use
I · Grayling, MI
Zoning I · permitted uses
I · Grayling, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grayling. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$920,000
OFFICE BUILDING
Est. value
$735,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
FORCED AIR
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Jp'n Sons Warehousing LLC
Entity
Mailing address
PO BOX 603, GRAYLING, MI 49738-0603
Ownership since
2023
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
Jan 9, 2023
$960,000
Jp'n Sons Warehousing LLC
Jansen Warehousing LLC
Warranty Deed
$750,000 · Jansen Warehousing
Jan 9, 2023
—
Jp N Sons Warehousing LLC
—
Deed
related
$450,000 · Community Choice Credit Union
Jan 16, 2015
$88,000
Jansen Warehousing, LLC
R Lanny R Lanny
Intrafamily Transfer
related
$66,000 · Chemical 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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