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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Community centers
409 Cedar Rd Mason, MI 48854-2542
Individually Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1400283
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1974
Total area
8,062 SF
Lot
0.9 ac (39,204 SF)
Zoning code
B-2
APN
33-10-10-06-204-012
UPID
US43-1400283
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$669k
Blend (final)
Blend
$650k
Owner & transaction history
Vlahakis Family
Vlahakis Family
1 recorded transaction
Zoning & alternative use
B-2 · Mason, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$995,000
+92.1%
Restaurant
$940,000
+81.7%
Commercial (general)
$920,000
+78.0%
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 Mason submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mason 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
NEIGHBORHOOD: SHOPPING CENTER
$515,000
Current use
MEDICAL BUILDING
$995,000
Change: +92% · Conversion: Difficult
RESTAURANT
$940,000
Change: +82% · Conversion: Difficult
COMMERCIAL (GENERAL)
$920,000
Change: +78% · Conversion: Easy
AUTO REPAIR, GARAGE
$810,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$750,000
Change: +45% · Conversion: Moderate
RETAIL STORES
$640,000
Change: +24% · Conversion: Easy
WAREHOUSE, STORAGE
$530,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±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
$81 / 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
$12,758
Tax year 2022
Assessed value
$414,100
Assessed 2023
Previous assessed
$440,200
-5.9% YoY
Effective rate
3.08%
On assessed value
Assessed land
$14,350
Assessed improvement
$399,750
Land market value
$28,700
Improvement market value
$799,500
Total market value
$828,200
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1974
Heating
YES
Buildings
2
Stories
1
Total area
8,062 SF
Lot
0.9 ac (39,204 SF)
Zoning code
B-2
APN
33-10-10-06-204-012
UPID
US43-1400283
Jurisdiction
INGHAM
Zoning & alternative use
B-2 · Mason, MIZoning B-2 · permitted uses
B-2 · Mason, MI
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$515,000
MEDICAL BUILDING
Est. value
$995,000
RESTAURANT
Est. value
$940,000
COMMERCIAL (GENERAL)
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$810,000
OFFICE BUILDING
Est. value
$750,000
RETAIL STORES
Est. value
$640,000
WAREHOUSE, STORAGE
Est. value
$530,000
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
Year built
1974
Heating
YES
Stories
1
Buildings
2
Lot
0.9 ac
Current owner
From public records · entity-resolved
Vlahakis Family
Individual
Mailing address
333 ALBERT AVE STE #202, EAST LANSING, MI 48823-4351
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Vlahakis Family
—
Deed Of Trust
related
$149,158 · Fifth Third Bank
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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