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Property profile & analytics
OFF-MARKET
Estimated value
$3,085,000
Industrial properties
5085 Kraft SE Ave, Grand Rapids, MI 49512-9707
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US43-0670865
Property summary
AI-generated overview
This exceptional 50,100-square-foot industrial warehouse, built in 2005, is situated on a generous 5.92-acre lot in Grand Rapids, Michigan. The single-story building boasts a single drive-in door and two loading docks, ensuring efficient loading and unloading operations. Power is provided by a robust 480v 3-phase system, with at least 1,600 amps available. The interior features epoxy flooring throughout and is fully air-conditioned for optimal comfort and functionality. Ample on-site parking is available for employees and visitors. The property benefits from a strategic location near Gerald R. Ford International Airport, just north of 52nd Street SE, providing convenient access to major highways M-6 and I-96. Fire suppression systems are in place for enhanced safety. This well-maintained property is ideal for a variety of industrial uses and is available for sale or lease. The property is located in Kent County, Michigan, with the full address being 5085 Kraft Ave SE, Grand Rapids, MI 49512.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2005
Total area
50,100 SF
Lot
5.92 ac (257,875 SF)
Zoning code
I
APN
41-19-30-400-017
UPID
US43-0670865
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
-
Magna Mirrors Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.09M
Blend (final)
Blend
$3.09M
Owner & transaction history
5085 Kraft Ave Se Migr LLC · 1 yrs held
5085 Kraft Ave Se Migr LLC
since 2024
5 recorded transactions
Zoning & alternative use
I · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.1M
+76.4%
Office building
$3.8M
+66.4%
Auto repair, garage
$3.1M
+34.5%
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)
$2,310,000
Current use
RETAIL STORES
$4,070,000
Change: +76% · Conversion: Moderate
OFFICE BUILDING
$3,840,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,105,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±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
$62 / 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
$57,484
Tax year 2023
Assessed value
$2,104,000
Assessed 2024
Previous assessed
$2,104,000
+0.0% YoY
Effective rate
2.73%
On assessed value
Total market value
$4,208,000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2005
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
50,100 SF
Lot
5.92 ac (257,875 SF)
Zoning code
I
APN
41-19-30-400-017
UPID
US43-0670865
Jurisdiction
KENT
Zoning & alternative use
I · Grand Rapids, MI
Zoning I · permitted uses
I · 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
$2.3M
RETAIL STORES
Est. value
$4.1M
OFFICE BUILDING
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.1M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
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
2005
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
5.92 ac
Current owner
From public records · entity-resolved
5085 Kraft Ave Se Migr LLC
Entity
Mailing address
2095 N BATAVIA ST APT #301, ORANGE, CA 92865-3101
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 1, 2024
—
5085 Kraft Ave Se Migr LLC
Highlands Investments LLC
Special Warranty Deed
—
Oct 7, 2016
—
Highlands Investments LLC
—
Deed
related
$2,425,000 · Miscellaneous Ins Co
Apr 14, 2006
$3,760,000
Highlands Investments LLC
5085 Kraft Ave Lc
Grant Deed
$2,750,000 · Ge Com'l Finance Business Prop
Jan 13, 2005
$3,360,000
Coml Finance Busn Prop Co Ge
5085 Kraft Ave Lc
Grant Deed
related
—
—
—
Highlands Investments LLC
—
Deed Of Trust
related
$2,425,000 · Miscellaneous Ins Co
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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