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Property profile & analytics
OFF-MARKET
Drug stores
500 James St, Grayling, MI 49738-1714
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3624386
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Total area
2,691 SF
Lot
0.33 ac (14,400 SF)
Zoning code
C-1
APN
070-100-014-011-01
UPID
US43-3624386
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
Gre Acquisitions LLC · 1 yrs held
Gre Acquisitions LLC
since 2025
Last sale
$350,000
3 recorded transactions
Zoning & alternative use
C-1 · Grayling, 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 Grayling submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grayling 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,828
Tax year 2023
Assessed value
$160,700
Assessed 2024
Previous assessed
$114,700
+40.1% YoY
Effective rate
4.25%
On assessed value
Assessed land
$27,100
Assessed improvement
$133,600
Land market value
$54,200
Improvement market value
$267,200
Total market value
$321,400
Applied tax rate
70.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Heating
FORCED AIR
Stories
1
Total area
2,691 SF
Lot
0.33 ac (14,400 SF)
Zoning code
C-1
APN
070-100-014-011-01
UPID
US43-3624386
Jurisdiction
CRAWFORD
Zoning & alternative use
C-1 · Grayling, MI
Zoning C-1 · permitted uses
C-1 · Grayling, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grayling. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Gre Acquisitions LLC
Entity
Mailing address
500 N JAMES ST, GRAYLING, MI 49738-1714
Mailing matches property
Yes
Owner-occupied
Yes
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
May 7, 2025
$350,000
Gre Acquisitions LLC
Riverbenz LLC
Warranty Deed
$297,500 · Harvest Small Business Finance
Dec 27, 2021
—
Riverbenz LLC
—
Deed
related
$100,000 · Charlevoix State Bank
Apr 13, 2012
—
Riverbenz LLC
Jeffrey K Steffey
Warranty Deed
—
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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