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Property profile & analytics
OFF-MARKET
Estimated value
$1,345,000
Medical Office Space
4121 Shrestha Dr, Bay City, MI 48706-2171
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US43-5291364
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Total area
10,482 SF
Lot
2.01 ac (87,556 SF)
Zoning code
C-2
APN
010-S34-000-010-00
UPID
US43-5291364
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
-
Grover Theron H MD Physician
-
Lisa C. Black, PT Physician
-
Paramount Rehabilitation Services Physician
-
Erik P. Voogd, MD Physician
-
Bradley Witte Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.65M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.35M
Owner & transaction history
Healty Place INC · 6 yrs held
Healty Place INC
since 2020
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
C-2 · Bay City, 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 Bay City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bay City 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
$1,425,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,785,000
6.5%
$1,650,000
7%
$1,530,000
Alternative Use
Use
Estimation
RESTAURANT
$910,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.21M – $1.48M · ±10% · vs last sale $1.15M (Mar 11 2020)
Last sale anchor
$1.15M
Mar 11 2020
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
$128 / 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
$46,906
Tax year 2023
Assessed value
$1,011,600
Assessed 2024
Previous assessed
$1,099,850
-8.0% YoY
Effective rate
4.64%
On assessed value
Total market value
$2,023,200
Applied tax rate
10.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2004
Heating
FORCED AIR
Stories
1
Total area
10,482 SF
Lot
2.01 ac (87,556 SF)
Zoning code
C-2
APN
010-S34-000-010-00
UPID
US43-5291364
Jurisdiction
BAY
Zoning & alternative use
C-2 · Bay City, MI
Zoning C-2 · permitted uses
C-2 · Bay City, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bay City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$910,000
RESTAURANT
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
2004
Heating
FORCED AIR
Stories
1
Lot
2.01 ac
Current owner
From public records · entity-resolved
Healty Place INC
Entity
Mailing address
4121 SHRESTHA DR, BAY CITY, MI 48706-2171
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
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
Mar 11, 2020
$1,150,000
Healty Place INC
Phoenix Development Holdings LLC
Warranty Deed
$920,000 · Commercial Bank
Aug 28, 2006
—
Phoenix Dev Holdings LLC
Wolgast Dev LLC
Warranty Deed
—
—
—
Phoenix Dev Holdings LLC
—
Deed Of Trust
related
$1,562,000 · Bank Of America
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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