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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Grocery and convenience stores
2840 Lk Michigan NW Dr Grand Rapids, MI 49504-5857
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0862195
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1952
Total area
5,094 SF
Lot
0.77 ac (33,498 SF)
Zoning code
MCN-C
APN
41-13-28-127-010
UPID
US43-0862195
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
-
Siciliano's Market (Bike/Boat/Book/etc) Store Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$500k
Owner & transaction history
Shawnmut Inn Land LLC · 1 yrs held
Shawnmut Inn Land LLC
since 2024
Last sale
$500,000
7 recorded transactions
Zoning & alternative use
MCN-C · 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
Method
Estimation
Statistic approach
$500,000
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$500k
Range $450k – $550k · ±10% · vs last sale $500k (Oct 9 2024)
Last sale anchor
$500k
Oct 9 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
$98 / 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
$10,093
Tax year 2021
Assessed value
$252,300
Assessed 2024
Previous assessed
$252,300
+0.0% YoY
Effective rate
4.00%
On assessed value
Total market value
$504,600
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1952
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
5,094 SF
Lot
0.77 ac (33,498 SF)
Zoning code
MCN-C
APN
41-13-28-127-010
UPID
US43-0862195
Jurisdiction
KENT
Zoning & alternative use
MCN-C · Grand Rapids, MIZoning MCN-C · permitted uses
MCN-C · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1952
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
0.77 ac
Current owner
From public records · entity-resolved
Shawnmut Inn Land LLC
Entity
Mailing address
126 IONIA AVE SW, GRAND RAPIDS, MI 49503-4115
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2024
—
Shawnmut Inn Land LLC
Nibor LLC
Warranty Deed
—
Oct 9, 2024
$500,000
Nibor LLC
Partners Realty LLC
Warranty Deed
—
Jun 15, 2022
—
Nibor LLC
Sun Title Agency Of Michigan LLC
Correction Deed
related
—
Jun 1, 2022
—
Nibor LLC
Partners Realty LLC
Land Contract
—
Mar 14, 2002
$255,000
Partners Realty LLC
Krajewski Trust
Grant Deed
$220,000 · Chemical Bank West
—
—
Partners Realty LLC
—
Deed Of Trust
related
$20,000 · Chemical Bank West
—
—
Partners Realty LLC
—
Deed Of Trust
related
$253,400 · Chemical Bank West
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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