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Property profile & analytics
OFF-MARKET
Assisted living facilities
2325 Rockwell Dr Midland, MI 48642-9325
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-2366180
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2014
Total area
124,777 SF
Lot
9.69 ac (422,096 SF)
Zoning code
RB
APN
14-13-30-004
UPID
US43-2366180
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
-
Julie Rayl Physician
-
Independence Village of Midland Nursing Home Retirement Community
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
Lakes Senior Living Communities LLC · 7 yrs held
Lakes Senior Living Communities LLC
since 2019
1 recorded transaction
Zoning & alternative use
RB · Midland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
locat ed within twenty-five (25) feet of a street property line. (2) No parking space and maneuvering lane shall be located within ten (10) feet of any interior property line in any Residential Zoning District. (3) For RB-2 One and Multiple Family Residential only the special following provisions apply: i. No parking of vehicles and no maneuvering lane for p…
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
1,915.45 ac
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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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 2022Property tax & assessments
Tax year 2022
Tax billed
$218,667
Tax year 2022
Assessed value
$3,931,500
Assessed 2023
Previous assessed
$3,641,000
+8.0% YoY
Effective rate
5.56%
On assessed value
Total market value
$7,863,000
Applied tax rate
180.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2014
Heating
FORCED AIR
Stories
1
Total area
124,777 SF
Lot
9.69 ac (422,096 SF)
Zoning code
RB
APN
14-13-30-004
UPID
US43-2366180
Jurisdiction
MIDLAND
Zoning & alternative use
RB · Midland, MIZoning RB · permitted uses
RB · Midland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
locat ed within twenty-five (25) feet of a street property line. (2) No parking space and maneuvering lane shall be located within ten (10) feet of any interior property line in any Residential Zoning District. (3) For RB-2 One and Multiple Family Residential only the special following provisions apply: i. No parking of vehicles and no maneuvering lane for parking areas shall be located within five (5) feet of a street property line. ii.
Zone name
Multiple Family Residential
General category
RESIDENTIAL
Zone area
1,915.45 ac
Building & site characteristics
From public records
Year built
2014
Heating
FORCED AIR
Stories
1
Lot
9.69 ac
Current owner
From public records · entity-resolved
Lakes Senior Living Communities LLC
Entity
Free & Clear · 7 yrs held
Mailing address
5565 BANKERS AVE, BATON ROUGE, LA 70808-2608
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2019
—
Lakes Senior Living Communities LLC
Midland 1 LLC
Warranty Deed
—
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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