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    Property profile & analytics

    231 Michigan Ave Grayling, MI 49738-1742

    • Turn key restaurants
    • 2,675 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimation
    $345,000
    Last Sale
    May 20, 2024
    Location Intelligence
    Property ID
    US43-3955179
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mezcalito Mexican Grill / Mexican Restaurant

    Property Details for 231 Michigan Ave

    Year built
    1957
    Lot size
    0.08 lot acres
    Property size
    2,675 SF
    Zone code
    CBD
    Property type
    Turn key restaurants
    APN
    070-100-015-001-03
    APU
    7010001500103

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grayling
    County
    Crawford
    State
    Michigan
    Longitude
    -84.7144
    Latitude
    44.6621

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,477
    $6,200
    $132,100
    $138,300
    -
    $12,400
    $264,200
    $276,600

    Comparable in this City

    • Value Estimation
      $205,000
      1,476 SF

      305 James St

      RESTAURANT • 1,476 SF
      305 James St, Grayling, MI 49738-1817
      View Details
    • Value Estimation
      $430,000
      6,533 SF

      2552 I 75th Business Loop

      RESTAURANT • 6,533 SF
      2552 I 75th Business Loop, Grayling, MI 49738-2010
      View Details
    • Value Estimation
      $260,000
      3,611 SF

      6301 M 72nd Hwy

      RESTAURANT • 3,611 SF
      6301 M 72nd Hwy, Grayling, MI 49738-7786
      View Details
    • Value Estimation
      $410,000
      3,242 SF

      6535 County Rd 612

      RESTAURANT • 3,242 SF
      6535 County Rd 612, Grayling, MI 49738-9207
      View Details
    • Value Estimation
      $340,000
      2,030 SF

      301 James St

      RESTAURANT • 2,030 SF
      301 James St, Grayling, MI 49738-1817
      View Details
    • Value Estimation
      $260,000
      1,976 SF

      211 Michigan Ave

      RESTAURANT • 1,976 SF
      211 Michigan Ave, Grayling, MI 49738-1742
      View Details

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    Similar Nearby for Lease

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      Grayling Industrial Property For Lease

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    • $7 SF/Yr

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    231 Michigan Ave
    Grayling, MI 49738-1742
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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