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Property profile & analytics
FOR SALE
Commercial real estate
321 E Lake St Petoskey, MI 49770
Entity Owned
7-yr Hold
Free & Clear
Property ID
US43-3714645
For Sale
1 / 46
$1,850,000
321 E Lake St, Petoskey, MI 49770
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1907
Total area
7,958 SF
Lot
0.16 ac (6,970 SF)
Zoning code
COP B-2
APN
52-19-06-226-017
UPID
US43-3714645
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.43M
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.31M
Owner & transaction history
Wolf Inv Group Of Mi 2 · 7 yrs held
Wolf Inv Group Of Mi 2
since 2019
2 recorded transactions
Zoning & alternative use
COP B-2 · Petoskey, 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 Petoskey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Petoskey 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%
$1,545,000
6.5%
$1,425,000
7%
$1,325,000
Blend value · Realmo final
$1.31M
Range $1.18M – $1.44M · ±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
$165 / 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
Property tax & assessments
Assessed value
$672,800
Assessed 2023
Previous assessed
$628,900
+7.0% YoY
Assessed land
$11,300
Assessed improvement
$661,500
Land market value
$22,600
Improvement market value
$1,323,000
Total market value
$1,345,600
Applied tax rate
52.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1907
Total area
7,958 SF
Lot
0.16 ac (6,970 SF)
Zoning code
COP B-2
APN
52-19-06-226-017
UPID
US43-3714645
Jurisdiction
EMMET
Zoning & alternative use
COP B-2 · Petoskey, MIZoning COP B-2 · permitted uses
COP B-2 · Petoskey, 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
1907
Lot
0.16 ac
Current owner
From public records · entity-resolved
Wolf Inv Group Of Mi 2
Entity
Free & Clear · 7 yrs held
Mailing address
8110 PLAINFIELD RD, CINCINNATI, OH 45236-2413
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2019
—
Wolf Inv Group Of Mi 2
321 East Lake Street LLC
Warranty Deed
—
Nov 10, 2011
—
321 East Lake Street LLC
Elizabeth F White
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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