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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Retail space
2423 Cedar St Holt, MI 48842-2103
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US43-1048675
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Total area
5,844 SF
Lot
1.35 ac (58,806 SF)
Zoning code
C-3
APN
33-25-05-15-201-003
UPID
US43-1048675
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
-
Carquest Auto Parts Auto Parts Store
-
Napa Auto Parts - Motor Parts & Equipment Corporation Auto Parts Store
-
Crave Relief Alcohol Detox Holt, MI Wellness Program Addiction Treatment Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
$620k
Comparable Approach
Comparable
$576k
Blend (final)
Blend
$850k
Owner & transaction history
Jeh South LLC · 2 yrs held
Jeh South LLC
since 2024
Last sale
$850,000
3 recorded transactions
Zoning & alternative use
C-3 · Holt, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$720,000
+55.4%
Restaurant
$680,000
+47.0%
Commercial (general)
$670,000
+44.0%
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 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
$850,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$670,000
6.5%
$620,000
7%
$575,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$720,000
Change: +55% · Conversion: Difficult
RESTAURANT
$680,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$670,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$590,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$545,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (Apr 2 2024)
Last sale anchor
$850k
Apr 2 2024
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
$145 / 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
$19,412
Tax year 2022
Assessed value
$324,000
Assessed 2023
Previous assessed
$324,000
+0.0% YoY
Effective rate
5.99%
On assessed value
Assessed land
$102,700
Assessed improvement
$221,300
Land market value
$205,400
Improvement market value
$442,600
Total market value
$648,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Heating
FORCED AIR
Buildings
4
Stories
1
Total area
5,844 SF
Lot
1.35 ac (58,806 SF)
Zoning code
C-3
APN
33-25-05-15-201-003
UPID
US43-1048675
Jurisdiction
INGHAM
Zoning & alternative use
C-3 · Holt, MIZoning C-3 · permitted uses
C-3 · Holt, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$720,000
RESTAURANT
Est. value
$680,000
COMMERCIAL (GENERAL)
Est. value
$670,000
AUTO REPAIR, GARAGE
Est. value
$590,000
OFFICE BUILDING
Est. value
$545,000
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1960
Heating
FORCED AIR
Stories
1
Buildings
4
Lot
1.35 ac
Current owner
From public records · entity-resolved
Jeh South LLC
Entity
Mailing address
235 S HOMER ST, LANSING, MI 48912-4612
Ownership since
2024
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
Apr 2, 2024
$850,000
Jeh South LLC
Seed Investments LLC
Warranty Deed
$700,000 · 6850 Aurelius LLC
Dec 14, 2022
$610,000
Seed Investments LLC
Dewey Seehase
Warranty Deed
—
Feb 1, 2006
—
Seed Investments LLC
Seehase,dewey M & Joyce P
Grant Deed
related
—
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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