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Property profile & analytics
OFF-MARKET
Estimated value
$1,470,000
Medical Office Space
3016 Wackerly St Midland, MI 48640-6960
Individually Owned
1-yr Hold
Free & Clear
Property ID
US43-2170503
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Total area
8,117 SF
Lot
1.3 ac (56,628 SF)
Zoning code
OS
APN
11-32-50-030
UPID
US43-2170503
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
-
MidMichigan Obstetrics & Gynecology Physician
-
Kym Gohn, DO Physician
-
Charles E. Werner, MD Physician
-
Shawna Ruple, MD Physician
-
Scott A. Thiele, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.25M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.47M
Owner & transaction history
Alex Horbal · 1 yrs held
Alex Horbal
since 2025
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
OS · Midland, 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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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
$1,415,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,355,000
6.5%
$1,250,000
7%
$1,160,000
Blend value · Realmo final
$1.47M
Range $1.32M – $1.62M · ±10% · vs last sale $1.50M (May 30 2025)
Last sale anchor
$1.50M
May 30 2025
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
$181 / 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
$25,480
Tax year 2022
Assessed value
$464,700
Assessed 2023
Previous assessed
$431,600
+7.7% YoY
Effective rate
5.48%
On assessed value
Total market value
$929,400
Applied tax rate
180.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2004
Heating
FORCED AIR
Stories
1
Total area
8,117 SF
Lot
1.3 ac (56,628 SF)
Zoning code
OS
APN
11-32-50-030
UPID
US43-2170503
Jurisdiction
MIDLAND
Zoning & alternative use
OS · Midland, MI
Zoning OS · permitted uses
OS · Midland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midland. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2004
Heating
FORCED AIR
Stories
1
Lot
1.3 ac
Current owner
From public records · entity-resolved
Alex Horbal
Individual
Free & Clear · 1 yrs held
Mailing address
3016 W WACKERLY ST, MIDLAND, MI 48640-6960
Mailing matches property
Yes
Owner-occupied
Yes
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
May 30, 2025
$1,500,000
Alex Horbal
Scott Thiele
Warranty Deed
—
Apr 3, 2023
—
Sjt Investments LLC
—
Deed
related
$684,434 · The Huntington National Bank
Mar 30, 2023
—
Sjt Investments LLC
Thiele & Werner LLC
Warranty Deed
$684,434 · The 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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