New search
Property profile & analytics
OFF-MARKET
Estimated value
$845,000
Office buildings
3404 12th St, Wayland, MI 49348-9545
Trust Owned
5-yr Hold
~
Est. High Equity
Property ID
US43-2107418
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
11,360 SF
Lot
4.65 ac (202,554 SF)
APN
10-012-002-00
UPID
US43-2107418
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
-
Remotion LLC Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$885k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$874k
Blend (final)
Blend
$845k
Owner & transaction history
Equity Trust Company · 5 yrs held
Equity Trust Company
since 2020
Last sale
$735,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+12.1%
Commercial (general)
$1.2M
+11.7%
Warehouse, storage
$1.1M
+1.3%
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 Wayland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayland 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
$755,000
ML approach
$885,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,105,000
Current use
RESTAURANT
$1,240,000
Change: +12% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,235,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$1,120,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$845k
Range $761k – $930k · ±10% · vs last sale $735k (Dec 15 2020)
Last sale anchor
$735k
Dec 15 2020
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
$74 / 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
$10,502
Tax year 2023
Assessed value
$377,600
Assessed 2024
Previous assessed
$372,200
+1.5% YoY
Effective rate
2.78%
On assessed value
Assessed land
$69,800
Assessed improvement
$307,800
Land market value
$139,600
Improvement market value
$615,600
Total market value
$755,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
FORCED AIR
Buildings
5
Stories
1
Total area
11,360 SF
Lot
4.65 ac (202,554 SF)
APN
10-012-002-00
UPID
US43-2107418
Jurisdiction
ALLEGAN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
RESTAURANT
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE
Est. value
$1.1M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
Heating
FORCED AIR
Stories
1
Buildings
5
Lot
4.65 ac
Current owner
From public records · entity-resolved
Equity Trust Company
Trust
Mailing address
PO BOX 103, HAMILTON, MI 49419-0103
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2020
$735,000
Equity Trust Company
Flest Holdings LLC
Warranty Deed
—
Nov 20, 2007
$500,000
Fleet Holdings LLC
Daniel W Schanz
Warranty Deed
$20,000 · Daniel Schanz
Nov 20, 2007
—
Daniel W Schanz
Daniel W Schanz
Intrafamily Transfer
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 3404 12th St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
