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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Manufacturing properties
50 Coleman SE St, Grand Rapids, MI 49548-7716
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-1228604
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1961
Total area
16,756 SF
Lot
0.66 ac (28,793 SF)
Zoning code
R3-MED RES
APN
41-22-07-305-054
UPID
US43-1228604
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
-
Restoration 24/7 Construction Company General Contractor
-
L S Global Enterprises LLC Factory Industrial Manufacturer
-
Diversified Floor Coverings General Contractor Renovation Specialist
-
Diversified General Contracting Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$521k
Blend (final)
Blend
$520k
Owner & transaction history
Asc Investments LLC · 3 yrs held
Asc Investments LLC
since 2023
7 recorded transactions
Zoning & alternative use
R3-MED RES · 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
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)
$770,000
Current use
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$31 / 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
$9,230
Tax year 2023
Assessed value
$276,000
Assessed 2024
Previous assessed
$276,000
+0.0% YoY
Effective rate
3.34%
On assessed value
Total market value
$552,000
Applied tax rate
20.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
16,756 SF
Lot
0.66 ac (28,793 SF)
Zoning code
R3-MED RES
APN
41-22-07-305-054
UPID
US43-1228604
Jurisdiction
KENT
Zoning & alternative use
R3-MED RES · Grand Rapids, MI
Zoning R3-MED RES · permitted uses
R3-MED RES · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$770,000
INDUSTRIAL (GENERAL) Current
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
1961
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
0.66 ac
Current owner
From public records · entity-resolved
Asc Investments LLC
Entity
Mailing address
2053 BRIDLEWOOD DR, HUDSONVILLE, MI 49426-7480
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Apr 15, 2026
—
Asc Investments LLC
—
Deed
related
$1,650,000 · Horizon Bank
Apr 24, 2023
—
Asc Investments LLC
Ls Management Group LLC
Warranty Deed
—
Feb 18, 2016
—
Ls Management Group LLC
Alro Properties LLC
Warranty Deed
$234,000 · Grand River Bank
Jun 26, 2009
—
Alro Properties LLC
Syp LLC
Warranty Deed
$290,000 · Syp LLC
—
—
Ls Management Group LLC
—
Loan Modification
related
$130,000 · Grand River Bk
—
—
Syp LLC
—
Deed Of Trust
related
$465,000 · Northpointe Bank
—
—
Alro Properties LLC
—
Loan Modification
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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