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Property profile & analytics
OFF-MARKET
Commercial real estate
4981 28th SE St, Grand Rapids, MI 49512-2046
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US43-4412352
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1987
Lot
3.01 ac (130,941 SF)
Zoning code
B2
APN
41-19-07-353-019
UPID
US43-4412352
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
-
Clarion Inn & Suites Airport Hotel & Motel
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
Zangana Hospitality INC · 9 yrs held
Zangana Hospitality INC
since 2017
4 recorded transactions
Zoning & alternative use
B2 · Grand Rapids, 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 Grand Rapids submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Rapids 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
$92,574
Tax year 2019
Assessed value
$1,738,400
Assessed 2023
Previous assessed
$1,641,500
+5.9% YoY
Effective rate
5.33%
On assessed value
Total market value
$3,476,800
Applied tax rate
18.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1987
Heating
NONE
Buildings
2
Lot
3.01 ac (130,941 SF)
Zoning code
B2
APN
41-19-07-353-019
UPID
US43-4412352
Jurisdiction
KENT
Zoning & alternative use
B2 · Grand Rapids, MI
Zoning B2 · permitted uses
B2 · Grand Rapids, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Rapids. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Heating
NONE
Buildings
2
Lot
3.01 ac
Current owner
From public records · entity-resolved
Zangana Hospitality INC
Entity
Mailing address
4284 29TH ST SE, GRAND RAPIDS, MI 49512-1936
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2021
—
Zangana Hospitality INC
—
Deed
related
$2,400,000 · United Bank Of Michigan
Jan 27, 2017
—
Zangana Hospitality INC
Preferred Hospitality INC
Warranty Deed
—
Nov 5, 2008
—
Preferred Hospitality INC
4981 28th Street Holdings LLC
Grant Deed
$2,625,000 · First Michigan Bank
Jan 2, 2008
$2,600,000
4981 28th Street Holdings LLC
Sheriff Of Kent County
Trustees 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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