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Property profile & analytics
FOR SALE
Commercial real estate
405 W Main St Ionia, MI 48846
Individually Owned
Absentee Owner
Free & Clear
Property ID
US43-2383375
For Sale
1 / 53
$700,000
405 W Main St, Ionia, MI 48846
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
17,146 SF
Lot
0.21 ac (8,973 SF)
Zoning code
B-2
APN
34-201-050-000-355-00
UPID
US43-2383375
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
-
Ionia Smoothie Company Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$380k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$697k
Blend (final)
Blend
$540k
Owner & transaction history
WILLIAM E WILSON JR
WILLIAM E WILSON JR
Zoning & alternative use
B-2 · Ionia, 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 Ionia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ionia 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
$380,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$31 / 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
$6,855
Tax year 2023
Assessed value
$116,100
Assessed 2023
Previous assessed
$104,700
+10.9% YoY
Effective rate
5.90%
On assessed value
Assessed land
$9,300
Assessed improvement
$106,800
Land market value
$18,600
Improvement market value
$213,600
Total market value
$232,200
Applied tax rate
201.0000
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
Heating
FORCED AIR
Buildings
3
Stories
1
Total area
17,146 SF
Lot
0.21 ac (8,973 SF)
Zoning code
B-2
APN
34-201-050-000-355-00
UPID
US43-2383375
Jurisdiction
IONIA
Zoning & alternative use
B-2 · Ionia, MI
Zoning B-2 · permitted uses
B-2 · Ionia, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ionia. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Buildings
3
Lot
0.21 ac
Current owner
From public records · entity-resolved
WILLIAM E WILSON JR
Individual
Free & Clear · 0 yrs held
Mailing address
1129 N STATE RD, IONIA, MI 48846-9502
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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?”
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