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Property profile & analytics
FOR SALE
Office buildings
400 Dexter Rd, Eaton Rapids, MI 48827
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-4253449
For Sale
1 / 13
$1,200,000
400 Dexter Rd, Eaton Rapids, MI 48827
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
45,626 SF
Lot
15.14 ac (659,498 SF)
Zoning code
RD1
APN
300 033 200 226 01
UPID
US43-4253449
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
-
RapidLeaf Production Facility
-
Northwestern Elementary School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$2.12M
Owner & transaction history
City Of Eaton Rapids
City Of Eaton Rapids
since 2025
6 recorded transactions
Zoning & alternative use
RD1 · Eaton Rapids, 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 Eaton Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eaton 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,530,000
Current use
Blend value · Realmo final
$2.12M
Range $1.91M – $2.33M · ±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
$46 / 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
$4,622
Tax year 2023
Assessed value
$94,500
Assessed 2024
Previous assessed
$79,400
+19.0% YoY
Effective rate
4.89%
On assessed value
Total market value
$189,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Heating
FORCED AIR
Stories
1
Total area
45,626 SF
Lot
15.14 ac (659,498 SF)
Zoning code
RD1
APN
300 033 200 226 01
UPID
US43-4253449
Jurisdiction
EATON
Zoning & alternative use
RD1 · Eaton Rapids, MI
Zoning RD1 · permitted uses
RD1 · Eaton Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eaton Rapids. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.5M
OFFICE BUILDING Current
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
Lot
15.14 ac
Current owner
From public records · entity-resolved
City Of Eaton Rapids
Entity
Free & Clear · 0 yrs held
Mailing address
1224 LAKESIDE DR, HOWELL, MI 48843-1349
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 8, 2025
—
City Of Eaton Rapids
400 Dexter Road LLC
Warranty Deed
—
Jul 23, 2025
$500,000
400 Dexter Road LLC
Osage Management LLC
Warranty Deed
—
Apr 7, 2025
—
400 Dexter Road LLC
Jason Lezell Lee
Quitclaim Deed
related
—
Dec 27, 2016
—
Osage Management LLC
Benjamin Graham
Warranty Deed
—
Aug 10, 2016
$35,000
City Of Eaton Rapids & Eaton Rapids
Eaton Rapids School District #12 Fr
Warranty Deed
—
Jul 28, 2016
$65,000
Benjamin Graham
Eaton Rapids School District No 12
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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