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Property profile & analytics
OFF-MARKET
Strip malls
516 Clinton St Grand Ledge, MI 48837-2296
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US43-2339473
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1964
Total area
16,628 SF
Lot
0.95 ac (41,382 SF)
Zoning code
B-1
APN
400 011 400 026 00
UPID
US43-2339473
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
-
Wild Wild West Tobacco (Bike/Boat/Book/etc) Store
-
Sweet Fire Tobacco (Bike/Boat/Book/etc) Store Alternative Medicine Practice
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
Faton Federal Savings Bank · 11 yrs held
Faton Federal Savings Bank
since 2015
1 recorded transaction
Zoning & alternative use
B-1 · Grand Ledge, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
lot Plan (Depicts Required Setbacks on Land) (PDF) Basic Residential Accessory Structure Regulations (PDF) Basic Sign Ordinance Regulations (PDF) Examples of Illegal Signs (PDF) Commercial Planning & Zoning Regulations "B-1" Highway Service District: Minimum Requirements (PDF) "I-1" Light Industrial District: Minimum Requirements (PDF) "OS" Office Service Di…
Zone name
Highway Service
General category
COMMERCIAL
Zone area
169.40 ac
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 Ledge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Ledge 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
$44,286
Tax year 2023
Assessed value
$494,600
Assessed 2024
Previous assessed
$481,200
+2.8% YoY
Effective rate
8.95%
On assessed value
Total market value
$989,200
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1964
Heating
FORCED AIR
Stories
1
Total area
16,628 SF
Lot
0.95 ac (41,382 SF)
Zoning code
B-1
APN
400 011 400 026 00
UPID
US43-2339473
Jurisdiction
EATON
Zoning & alternative use
B-1 · Grand Ledge, MIZoning B-1 · permitted uses
B-1 · Grand Ledge, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
lot Plan (Depicts Required Setbacks on Land) (PDF) Basic Residential Accessory Structure Regulations (PDF) Basic Sign Ordinance Regulations (PDF) Examples of Illegal Signs (PDF) Commercial Planning & Zoning Regulations "B-1" Highway Service District: Minimum Requirements (PDF) "I-1" Light Industrial District: Minimum Requirements (PDF) "OS" Office Service District: Minimum Requirements (PDF) City Council GLAlerts My Utilities Pay a Bill Ut
Zone name
Highway Service
General category
COMMERCIAL
Zone area
169.40 ac
Building & site characteristics
From public records
Year built
1964
Heating
FORCED AIR
Stories
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Faton Federal Savings Bank
Entity
Free & Clear · 11 yrs held
Mailing address
5418 DELTA RIV DR, LANSING, MI 48906-9012
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2015
—
Faton Federal Savings Bank
M 100 Development LLC
Assignment Of Lease (leasehold Sale)
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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