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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Retail space
412 Jefferson St 5 Mason, MI 48854-1654
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-5255010
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1900
Total area
9,240 SF
Lot
0.3 ac (13,068 SF)
Zoning code
C1
APN
33-19-10-08-240-018
UPID
US43-5255010
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
$475k
CAP Approach
CAP
$980k
Comparable Approach
Comparable
$659k
Blend (final)
Blend
$770k
Owner & transaction history
Kean Properties LLC · 19 yrs held
Kean Properties LLC
since 2007
3 recorded transactions
Zoning & alternative use
C1 · Mason, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+55.4%
Restaurant
$1.1M
+47.0%
Commercial (general)
$1.1M
+44.0%
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
$475,000
CAP Approach
CAP Return
Estimation
6%
$1,060,000
6.5%
$980,000
7%
$910,000
Alternative Use
Use
Estimation
RETAIL STORES
$735,000
Current use
MEDICAL BUILDING
$1,140,000
Change: +55% · Conversion: Difficult
RESTAURANT
$1,075,000
Change: +47% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,055,000
Change: +44% · Conversion: Easy
AUTO REPAIR, GARAGE
$930,000
Change: +27% · Conversion: Difficult
OFFICE BUILDING
$860,000
Change: +18% · Conversion: Easy
WAREHOUSE, STORAGE
$605,000
Change: -17% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$595,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$83 / 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
$18,856
Tax year 2022
Assessed value
$389,790
Assessed 2023
Previous assessed
$342,390
+13.8% YoY
Effective rate
4.84%
On assessed value
Assessed land
$22,060
Assessed improvement
$367,730
Land market value
$44,120
Improvement market value
$735,460
Total market value
$779,580
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1900
Heating
YES
Buildings
2
Stories
1
Total area
9,240 SF
Lot
0.3 ac (13,068 SF)
Zoning code
C1
APN
33-19-10-08-240-018
UPID
US43-5255010
Jurisdiction
INGHAM
Zoning & alternative use
C1 · Mason, MIZoning C1 · permitted uses
C1 · 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
RETAIL STORES Current
Est. value
$735,000
MEDICAL BUILDING
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$930,000
OFFICE BUILDING
Est. value
$860,000
WAREHOUSE, STORAGE
Est. value
$605,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$595,000
RETAIL STORES Current
MEDICAL BUILDING
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1900
Heating
YES
Stories
1
Buildings
2
Lot
0.3 ac
Current owner
From public records · entity-resolved
Kean Properties LLC
Entity
Mailing address
406 S JEFFERSON ST, MASON, MI 48854-1693
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
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
Jul 10, 2017
—
Kean Properties LLC
—
Trustees Deed
related
$80,000 · Commercial Bk
Mar 23, 2007
$490,446
Kean Properties LLC
Kean Warner D Trust 1
Warranty Deed
$400,000 · Mason State Bank
—
—
Kean Properties LLC
—
Deed Of Trust
related
$260,700 · Commercial Bk
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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