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Property profile & analytics
OFF-MARKET
Retail space
45 Lk St, Sand Lake, MI 49343-5107
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-1529504
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
1,552 SF
Lot
0.13 ac (5,793 SF)
Zoning code
V-B-1
APN
41-03-05-227-015
UPID
US43-1529504
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Kirt Michelfelder · 1 yrs held
Kirt Michelfelder
since 2025
Last sale
$200,000
7 recorded transactions
Zoning & alternative use
V-B-1 · Sand Lake, 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 Sand Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sand Lake 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2019Property tax & assessments
Tax year 2019
Tax billed
$919
Tax year 2019
Assessed value
$45,300
Assessed 2023
Previous assessed
$39,900
+13.5% YoY
Effective rate
2.03%
On assessed value
Total market value
$90,600
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
1,552 SF
Lot
0.13 ac (5,793 SF)
Zoning code
V-B-1
APN
41-03-05-227-015
UPID
US43-1529504
Jurisdiction
KENT
Zoning & alternative use
V-B-1 · Sand Lake, MI
Zoning V-B-1 · permitted uses
V-B-1 · Sand Lake, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sand Lake. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Kirt Michelfelder
Individual
Mailing address
3174 HAYWARD DR SE, GRAND RAPIDS, MI 49546-7368
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2025
$200,000
Kirt Michelfelder
Northcorner LLC
Warranty Deed
—
Dec 30, 2021
$95,000
Northcorner LLC
Gabor Konrad
Warranty Deed
—
Feb 5, 2007
$32,000
Gabor Konrad
Hamersma,mark W & Marcia
Warranty Deed
—
Jul 17, 2006
—
Mark W Hamersma
Uecker,fred
Quit Claim Deed
—
Mar 1, 2005
—
Mark W Hamersma
City Realty Corp
Quit Claim Deed
related
—
Nov 16, 1999
$50,000
City Realty Corp
Baldwin,gary A & Linda M
Grant Deed
—
—
—
Mark W Hamersma
—
Deed Of Trust
related
$40,000 · United Bank Of Michigan
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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