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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Industrial properties
2727 Elmridge NW Dr, Grand Rapids, MI 49534-1327
Entity Owned
1-yr Hold
Free & Clear
Property ID
US43-0999368
Property summary
AI-generated overview
This exceptional Grand Rapids industrial property, situated on 1.229 acres in a prime northwest location, offers 9,996 square feet of versatile space. The main building encompasses 7,380 square feet, thoughtfully divided into 1,596 square feet of office space and 5,784 square feet of warehouse/manufacturing area. The office area features four private offices, a conference room, kitchenette, two restrooms, and a collaborative space. The warehouse boasts 17-foot ceilings, epoxy flooring, LED lighting, a mezzanine, three drive-in doors, and one loading dock. Two additional unheated storage buildings provide further capacity; one is 984 square feet with a drive-in door, and the other is 1,632 square feet with four drive-in doors. The property is zoned for industrial use, making it ideal for a variety of businesses. This well-maintained property presents a significant opportunity for owner-occupiers or investors seeking a high-quality industrial asset in a desirable location. The asking price is $1,100,000.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1968
Total area
9,996 SF
Lot
1.23 ac (53,535 SF)
Zoning code
ML
APN
41-13-09-107-013
UPID
US43-0999368
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
-
Specialty Machinery Inc. Industrial Manufacturer Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$558k
Blend (final)
Blend
$560k
Owner & transaction history
Swan Property Group LLC · 1 yrs held
Swan Property Group LLC
since 2025
3 recorded transactions
Zoning & alternative use
ML · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$875,000
+90.2%
Retail stores
$810,000
+76.4%
Office building
$765,000
+66.4%
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 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$460,000
Current use
COMMERCIAL (GENERAL)
$875,000
Change: +90% · Conversion: Difficult
RETAIL STORES
$810,000
Change: +76% · Conversion: Moderate
OFFICE BUILDING
$765,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$620,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$560k
Range $504k – $616k · ±10%
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
$56 / 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 2021Property tax & assessments
Tax year 2021
Tax billed
$8,794
Tax year 2021
Assessed value
$295,800
Assessed 2023
Previous assessed
$278,000
+6.4% YoY
Effective rate
2.97%
On assessed value
Total market value
$591,600
Applied tax rate
86.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1968
Heating
FORCED AIR
Buildings
4
Stories
1
Total area
9,996 SF
Lot
1.23 ac (53,535 SF)
Zoning code
ML
APN
41-13-09-107-013
UPID
US43-0999368
Jurisdiction
KENT
Zoning & alternative use
ML · Grand Rapids, MI
Zoning ML · permitted uses
ML · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$460,000
COMMERCIAL (GENERAL)
Est. value
$875,000
RETAIL STORES
Est. value
$810,000
OFFICE BUILDING
Est. value
$765,000
AUTO REPAIR, GARAGE
Est. value
$620,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1968
Heating
FORCED AIR
Stories
1
Buildings
4
Lot
1.23 ac
Current owner
From public records · entity-resolved
Swan Property Group LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2727 ELMRIDGE DR NW, GRAND RAPIDS, MI 49534-1327
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2025
—
Swan Property Group LLC
Elmridge Properties LLC
Warranty Deed
—
Apr 21, 2009
$402,000
Elmridge Properties LLC
Tree Garden Development Company LLC
Warranty Deed
$365,500 · Mercantile Bank Mortgage Company Ll
Jul 20, 2004
$240,000
Tree Garden Development Co LLC
Bomhof,tr
Grant 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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