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Property profile & analytics
OFF-MARKET
Office buildings
2435 Eastern SE Ave, Grand Rapids, MI 49507-3641
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-1990901
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Total area
4,500 SF
Lot
0.21 ac (9,017 SF)
Zoning code
TN-TBA
APN
41-18-07-428-021
UPID
US43-1990901
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
-
Farmers Insurance - Ismael Abreu Insurance Agency
-
Abdi Insurance Agency Insurance Agency
-
Nunez Multi Services LLC City Tax Office
-
Servicenter La Maquina Financial Advisor
-
TAX MULTISERVICES LLC Tax Preparation
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
Abren Holdings LLC · 5 yrs held
Abren Holdings LLC
since 2020
Last sale
$215,000
7 recorded transactions
Zoning & alternative use
TN-TBA · Grand Rapids, 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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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 2021Property tax & assessments
Tax year 2021
Tax billed
$7,420
Tax year 2021
Assessed value
$227,200
Assessed 2024
Previous assessed
$219,800
+3.4% YoY
Effective rate
3.27%
On assessed value
Total market value
$454,400
Applied tax rate
51.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1963
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
4,500 SF
Lot
0.21 ac (9,017 SF)
Zoning code
TN-TBA
APN
41-18-07-428-021
UPID
US43-1990901
Jurisdiction
KENT
Zoning & alternative use
TN-TBA · Grand Rapids, MI
Zoning TN-TBA · permitted uses
TN-TBA · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1963
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Abren Holdings LLC
Entity
Mailing address
2426 MADISON AVE SE, GRAND RAPIDS, MI 49507-3563
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2020
$215,000
Abren Holdings LLC
West Michigan Private Capital Fund
Warranty Deed
$161,250 · Tcf National Bank
Sep 24, 2018
—
West Michigan Private Capital Fund
Arthur J Bott SR.
Warranty Deed
—
Nov 24, 2015
—
Bott,arthur J SR Trust
Bank Of Ann Arbor
Warranty Deed
—
Aug 12, 2014
$263,226
Bank Of Ann Arbor
Sheriff Of Kent County
Trustees Deed
related
—
Oct 30, 2012
$263,226
Bank Of Ann Arbor
Sheriff Of County Of Kent
Trustees Deed
related
—
Jul 30, 2010
—
Prime Financial Services LLC
Sheriff Of Kent County
Trustees Deed
related
—
Apr 10, 2007
$161,252
Nidia Rosario
Diana Rodriguez
Warranty Deed
—
May 4, 1998
$158,000
Diana Rodriguez
Nash,robert L & Karen M
Grant Deed
$65,000 · Huntington National Bank
—
—
Diana Rodriguez
—
Deed Of Trust
related
$15,000 · N B D Bank NA
—
—
Diana Rodriguez
—
Deed Of Trust
related
$160,000 · David L Marsh
—
—
Diana Rodriguez
—
Deed Of Trust
related
$65,000 · Huntington National 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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