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Property profile & analytics
OFF-MARKET
Estimated value
$1,995,000
Flex space
379 Lk Michigan NW Dr Grand Rapids, MI 49534
Entity Owned
3-yr Hold
Free & Clear
Property ID
US43-2648991
Property summary
AI-generated overview
This exceptional investment opportunity presents a fee-simple ownership of a 22,292 square foot industrial building situated on a 1.65-acre lot in Grand Rapids, Michigan. The property, built in 2015, is currently 100% occupied under a 12-year absolute triple-net (NNN) lease with United Safety & Survivability Corp, a corporate guarantor, commencing November 7, 2022, and expiring November 6, 2034. The lease includes two five-year renewal options, providing long-term stability and predictable income. The tenant, a leader in specialized fire safety solutions, enjoys a strong operating history. The property boasts a 6.63% cap rate based on a net operating income (NOI) of $211,140 and an asking price of $3,184,615, translating to a price per square foot of $142.86. Annual rent increases of 2% are built into the lease, offering inflation protection. The property is a single-story building with zero landlord responsibilities, making it an attractive, low-maintenance investment. The address is 379 Lake Michigan Dr NW, Grand Rapids, MI 49534, located in Ottawa County. This is a rare opportunity to acquire a high-quality, net-leased industrial property with a strong tenant and significant upside potential.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Total area
22,292 SF
Lot
1.65 ac (71,874 SF)
APN
70-10-24-400-072
UPID
US43-2648991
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
-
Aetna Engineering Production Facility Building Supply
-
Fireboy-Xintex Inc Production Facility Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.00M
Owner & transaction history
Grand Rapids Lake Michigan Gp LLC · 3 yrs held
Grand Rapids Lake Michigan Gp LLC
since 2022
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.3M
+221.3%
Office building
$3.0M
+196.4%
Auto repair, garage
$2.5M
+139.9%
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
$1,425,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,300,000
Change: +221% · Conversion: Moderate
OFFICE BUILDING
$3,045,000
Change: +196% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,465,000
Change: +140% · Conversion: Easy
WAREHOUSE, STORAGE
$2,390,000
Change: +133% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,955,000
Change: +90% · Conversion: Difficult
Blend value · Realmo final
$2.00M
Range $1.80M – $2.19M · ±10% · vs last sale $2.30M (Nov 8 2022)
Last sale anchor
$2.30M
Nov 8 2022
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
$89 / 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
$21,822
Tax year 2022
Assessed value
$625,800
Assessed 2023
Previous assessed
$484,500
+29.2% YoY
Effective rate
3.49%
On assessed value
Total market value
$1,251,600
Applied tax rate
25.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
22,292 SF
Lot
1.65 ac (71,874 SF)
APN
70-10-24-400-072
UPID
US43-2648991
Jurisdiction
OTTAWA
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
RETAIL STORES
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
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
2
Lot
1.65 ac
Current owner
From public records · entity-resolved
Grand Rapids Lake Michigan Gp LLC
Entity
Free & Clear · 3 yrs held
Mailing address
636 OLD YORK RD STE, JENKINTOWN, PA 19046-2858
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2022
$2,300,000
Grand Rapids Lake Michigan Gp LLC
Ussc Acquisition Corp
Deed
—
Oct 4, 2021
—
Ussa Acquistion Corp
O 379 Lake Michigan Drive LLC
Deed
—
Mar 1, 2018
—
0379 Lake Michgan Drive Llkc
Fireboy Real Estate LLC
Warranty Deed
—
Jun 21, 2005
$22,500
Fireboy Real Estate LLC
Duimstra Corp
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.
Try Rey
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