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Property profile & analytics
OFF-MARKET
Estimated value
$1,000,000
Strip malls
420 Waldo Ave Midland, MI 48642-5901
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US43-2421025
Property summary
AI-generated overview
This exceptional executive office space at 420 Waldo Ave in Midland, MI 48642 offers a prime location and flexible layouts. The property boasts a total of 5,200 square feet across four single-story buildings, all renovated in 2021. Currently, the entire 5,200 square feet is available for lease, with a minimum divisible space of 800 square feet and a maximum contiguous space of 1,000 square feet. Seven individual suites are available, perfect for businesses of various sizes. The property sits on a one-acre lot and provides ample parking with 20 spaces. Its strategic location offers high traffic counts and excellent proximity to major employers including Dow Corporate, Dow Michigan Operations, Corteva, Dupont, and Costco, ensuring high visibility and convenient access for employees and clients. The lease terms are NNN. This is an exceptional opportunity for businesses seeking modern, well-maintained office space in a thriving Midland location. The property's recent renovation ensures contemporary amenities and a professional environment. Contact us today to schedule a viewing and secure your ideal office space.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1948
Total area
11,783 SF
Lot
1.35 ac (58,806 SF)
Zoning code
RA4
APN
14-24-60-516
UPID
US43-2421025
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
-
Firm Foundation Physical Therapy Medical Clinic
-
Allied HR Solutions Employment Agency Business Service Center
-
Allied Group Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.00M
Owner & transaction history
Pnacek Property Solutions LLC · 3 yrs held
Pnacek Property Solutions LLC
since 2022
Last sale
$1.0M
3 recorded transactions
Zoning & alternative use
RA4 · Midland, 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 Midland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midland 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
$1,000,000
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
$1,030,000
Change: 0% · Conversion: Moderate
RETAIL STORES
$725,000
Change: 0% · Conversion: Easy
Blend value · Realmo final
$1.00M
Range $900k – $1.10M · ±10% · vs last sale $1.00M (Nov 23 2022)
Last sale anchor
$1.00M
Nov 23 2022
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
$85 / 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
$22,699
Tax year 2022
Assessed value
$454,400
Assessed 2023
Previous assessed
$376,700
+20.6% YoY
Effective rate
5.00%
On assessed value
Total market value
$908,800
Applied tax rate
180.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1948
Heating
FORCED AIR
Stories
1
Total area
11,783 SF
Lot
1.35 ac (58,806 SF)
Zoning code
RA4
APN
14-24-60-516
UPID
US43-2421025
Jurisdiction
MIDLAND
Zoning & alternative use
RA4 · Midland, MIZoning RA4 · permitted uses
RA4 · Midland, 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
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$725,000
OFFICE BUILDING
RETAIL STORES
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
1948
Heating
FORCED AIR
Stories
1
Lot
1.35 ac
Current owner
From public records · entity-resolved
Pnacek Property Solutions LLC
Entity
Mailing address
2529 N EASTMAN RD, MIDLAND, MI 48642-7871
Ownership since
2022
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
Nov 23, 2022
$1,000,000
Pnacek Property Solutions LLC
Randall L Frank
Warranty Deed
$1,000,000 · 1st State Bank
Sep 7, 2018
—
Waldo Plaza LLC
W P Group LLC
Quit Claim Deed
related
—
Mar 1, 2017
—
W P Group LLC
Katherine H Stasik
Quit Claim Deed
related
—
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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