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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Office buildings
2385 Delhi Commerce Dr Ste 6, Holt, MI 48842-2192
Entity Owned
5-yr Hold
Free & Clear
Property ID
US43-1394973
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Total area
9,511 SF
Lot
1.59 ac (69,260 SF)
Zoning code
C-2
APN
33-25-05-15-202-029
UPID
US43-1394973
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
$755k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$538k
Blend (final)
Blend
$765k
Owner & transaction history
River Street Industrial LLC · 5 yrs held
River Street Industrial LLC
since 2020
Last sale
$758,000
4 recorded transactions
Zoning & alternative use
C-2 · Holt, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+32.1%
Restaurant
$1.1M
+25.0%
Commercial (general)
$1.1M
+22.4%
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 Holt submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Holt 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
$890,000
ML approach
$755,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$885,000
Current use
MEDICAL BUILDING
$1,170,000
Change: +32% · Conversion: Easy
RESTAURANT
$1,110,000
Change: +25% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,085,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$955,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$755,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $758k (Sep 21 2020)
Last sale anchor
$758k
Sep 21 2020
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
$80 / 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
$18,830
Tax year 2022
Assessed value
$302,200
Assessed 2023
Previous assessed
$277,000
+9.1% YoY
Effective rate
6.23%
On assessed value
Assessed land
$65,600
Assessed improvement
$236,600
Land market value
$131,200
Improvement market value
$473,200
Total market value
$604,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1989
Heating
YES
Buildings
2
Stories
1
Total area
9,511 SF
Lot
1.59 ac (69,260 SF)
Zoning code
C-2
APN
33-25-05-15-202-029
UPID
US43-1394973
Jurisdiction
INGHAM
Zoning & alternative use
C-2 · Holt, MI
Zoning C-2 · permitted uses
C-2 · Holt, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Holt. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$885,000
MEDICAL BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$955,000
RETAIL STORES
Est. value
$755,000
OFFICE BUILDING Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1989
Heating
YES
Stories
1
Buildings
2
Lot
1.59 ac
Current owner
From public records · entity-resolved
River Street Industrial LLC
Entity
Free & Clear · 5 yrs held
Mailing address
925 RIV ST, LANSING, MI 48912-1027
Ownership since
2020
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
Sep 21, 2020
$758,000
River Street Industrial LLC
David Gaffey
Warranty Deed
—
Feb 21, 2007
—
David Gaffey
Gaffey Family Trust
Quit Claim Deed
related
$750,000 · Dart Bank
—
—
David Gaffey
—
Deed Of Trust
related
$100,000 · Dart Bank
—
—
David Gaffey
—
Deed Of Trust
related
$170,595 · Dart 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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