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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Industrial properties
425 Leggitt Rd, Marshall, MI 49068-9555
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-2235897
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1966
Total area
12,752 SF
Lot
1.39 ac (60,548 SF)
Zoning code
I-1
APN
53-002-636-00
UPID
US43-2235897
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
-
Comcast Urethane Corporation Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$512k
Blend (final)
Blend
$510k
Owner & transaction history
Jonrach LLC · 1 yrs held
Jonrach LLC
since 2025
3 recorded transactions
Zoning & alternative use
I-1 · Marshall, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$785,000
+87.0%
Commercial (general)
$665,000
+58.2%
Auto repair, garage
$640,000
+52.3%
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 Marshall submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marshall 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
INDUSTRIAL (GENERAL)
$420,000
Current use
RETAIL STORES
$785,000
Change: +87% · Conversion: Moderate
COMMERCIAL (GENERAL)
$665,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$640,000
Change: +52% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$40 / 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
$11,011
Tax year 2022
Assessed value
$181,700
Assessed 2024
Previous assessed
$160,200
+13.4% YoY
Effective rate
6.06%
On assessed value
Total market value
$363,400
Applied tax rate
13,110.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1966
Heating
FORCED AIR
Stories
1
Total area
12,752 SF
Lot
1.39 ac (60,548 SF)
Zoning code
I-1
APN
53-002-636-00
UPID
US43-2235897
Jurisdiction
CALHOUN
Zoning & alternative use
I-1 · Marshall, MI
Zoning I-1 · permitted uses
I-1 · Marshall, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Marshall. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$420,000
RETAIL STORES
Est. value
$785,000
COMMERCIAL (GENERAL)
Est. value
$665,000
AUTO REPAIR, GARAGE
Est. value
$640,000
INDUSTRIAL (GENERAL) Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1966
Heating
FORCED AIR
Stories
1
Lot
1.39 ac
Current owner
From public records · entity-resolved
Jonrach LLC
Entity
Mailing address
13641 LADY JESSICA ISLE, BATTLE CREEK, MI 49014-8547
Ownership since
2025
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
Jan 6, 2025
—
Jonrach LLC
Cutter Enterprises LLC
Warranty Deed
—
Jun 27, 2018
—
Cutter Enterprises LLC
—
Deed
related
$310,000 · Southern Michigan Bank & Trust
Feb 24, 2016
—
Cutter Enterprises LLC
Dmj Of Marshall LLC
Deed
$279,000 · Southern Michigan Bank & Trust
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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