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Property profile & analytics
OFF-MARKET
Strip malls
234 Michigan Ave Grayling, MI 49738-1749
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3292184
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1954
Total area
4,324 SF
Lot
0.11 ac (4,792 SF)
Zoning code
CBD
APN
070-100-016-005-00
UPID
US43-3292184
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
-
Grayling Regional Chamber of Commerce Business Service Center Advocacy Group
-
Grayling Visitors Bureau Travel Agency
-
AuSable River Festival Charitable Organization Social Service Agency
-
State Savings Bank Loan Center Loan Service Bank
-
Beltone Skoric Hearing Aid Center Hearing Aid Repair Service Hearing Assistance Earphone Store
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
234 Michigan Avenue Grayling LLC · 1 yrs held
234 Michigan Avenue Grayling LLC
since 2025
Last sale
$267,500
2 recorded transactions
Zoning & alternative use
CBD · Grayling, 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 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
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 2023Property tax & assessments
Tax year 2023
Tax billed
$5,589
Tax year 2023
Assessed value
$141,300
Assessed 2024
Previous assessed
$91,700
+54.1% YoY
Effective rate
3.96%
On assessed value
Assessed land
$4,100
Assessed improvement
$137,200
Land market value
$8,200
Improvement market value
$274,400
Total market value
$282,600
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1954
Heating
FORCED AIR
Stories
1
Total area
4,324 SF
Lot
0.11 ac (4,792 SF)
Zoning code
CBD
APN
070-100-016-005-00
UPID
US43-3292184
Jurisdiction
CRAWFORD
Zoning & alternative use
CBD · Grayling, MI
Zoning CBD · permitted uses
CBD · 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.
Building & site characteristics
From public records
Year built
1954
Heating
FORCED AIR
Stories
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
234 Michigan Avenue Grayling LLC
Entity
Mailing address
1156 MERRYMAN DR, GRAYLING, MI 49738-6222
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2025
$267,500
234 Michigan Avenue Grayling LLC
Ron Rakoczy
Warranty Deed
$167,500 · First Community Bank
Jul 18, 2017
$200,000
Ron Rakoczy
Gambles Corner 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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