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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Drug stores
312 James St Grayling, MI 49738-1818
Entity Owned
6-yr Hold
Free & Clear
Property ID
US43-3608448
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1997
Total area
12,740 SF
Lot
1.84 ac (80,150 SF)
Zoning code
C-3A
APN
070-150-004-012-00
UPID
US43-3608448
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
-
higi Physician
-
Mark R. Hansen, RPh Pharmacy
-
Kelli Gillispie Pharmacy
-
CDReload - Online Bitcoin ATM Crypto Atm Atm
-
Family Dollar Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$770k
Owner & transaction history
Agree Limited Partnership · 6 yrs held
Agree Limited Partnership
since 2020
1 recorded transaction
Zoning & alternative use
C-3A · Grayling, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+16.6%
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 Grayling submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayling 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
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,060,000
Current use
RESTAURANT
$1,235,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$60 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$24,540
Tax year 2023
Assessed value
$409,800
Assessed 2024
Previous assessed
$393,200
+4.2% YoY
Effective rate
5.99%
On assessed value
Assessed land
$53,200
Assessed improvement
$356,600
Land market value
$106,400
Improvement market value
$713,200
Total market value
$819,600
Applied tax rate
70.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Stories
1
Total area
12,740 SF
Lot
1.84 ac (80,150 SF)
Zoning code
C-3A
APN
070-150-004-012-00
UPID
US43-3608448
Jurisdiction
CRAWFORD
Zoning & alternative use
C-3A · Grayling, MI
Zoning C-3A · permitted uses
C-3A · Grayling, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grayling. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.2M
RETAIL STORES Current
RESTAURANT
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
1997
Heating
FORCED AIR
Stories
1
Lot
1.84 ac
Current owner
From public records · entity-resolved
Agree Limited Partnership
Entity
Free & Clear · 6 yrs held
Mailing address
PO BOX 460389, HOUSTON, TX 77056-8389
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2020
—
Agree Limited Partnership
Grra LLC
Warranty 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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