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Property profile & analytics
OFF-MARKET
Estimated value
$2,430,000
Office buildings
400 State St Zeeland, MI 49464-2067
Entity Owned
11-yr Hold
Free & Clear
Property ID
US43-2253984
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
19,951 SF
Lot
3.8 ac (165,528 SF)
Zoning code
OS
APN
70-16-24-400-068
UPID
US43-2253984
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
-
Simtec Inc (Bike/Boat/Book/etc) Store Corporate Office
-
Jason Kooi, PT Physician
-
Libby Berens Financial Advisor
-
Family Practice Associates Zeeland Medical Clinic
-
Physical therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.43M
Owner & transaction history
West Michigan Management Services L · 11 yrs held
West Michigan Management Services L
since 2014
3 recorded transactions
Zoning & alternative use
OS · Zeeland, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.0M
+8.4%
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 Zeeland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Zeeland 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
$2,725,000
Current use
RETAIL STORES
$2,955,000
Change: +8% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,640,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,205,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$2.43M
Range $2.19M – $2.67M · ±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
$122 / 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
$47,356
Tax year 2022
Assessed value
$1,076,500
Assessed 2023
Previous assessed
$1,060,000
+1.6% YoY
Effective rate
4.40%
On assessed value
Total market value
$2,153,000
Applied tax rate
79.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
19,951 SF
Lot
3.8 ac (165,528 SF)
Zoning code
OS
APN
70-16-24-400-068
UPID
US43-2253984
Jurisdiction
OTTAWA
Zoning & alternative use
OS · Zeeland, MI
Zoning OS · permitted uses
OS · Zeeland, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zeeland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.7M
RETAIL STORES
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$2.6M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
3
Lot
3.8 ac
Current owner
From public records · entity-resolved
West Michigan Management Services L
Entity
Free & Clear · 11 yrs held
Mailing address
13001 NEW HOLLAND ST, HOLLAND, MI 49424-9252
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
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
Aug 13, 2024
—
West Michigan Management Services L
—
Deed
related
$3,000,000 · The Huntington National Bank
Oct 30, 2014
—
West Michigan Management Services L
Charis Group LLC
Warranty Deed
—
Mar 14, 2005
—
Charis Group LLC
Julia Bushnell
Warranty Deed
$800,000 · Mercantile Bank Mortgage Company Ll
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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