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Property profile & analytics
OFF-MARKET
Estimated value
$9,435,000
Industrial properties
5460 Executive SE Pkwy, Grand Rapids, MI 49512-5510
Entity Owned
~
Est. High Equity
Property ID
US43-1102077
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1989
Total area
177,815 SF
Lot
18.49 ac (805,555 SF)
Zoning code
PUD
APN
41-19-31-200-060
UPID
US43-1102077
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
-
Tesla Manufacturing - Grand Rapids Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.81M
Blend (final)
Blend
$9.44M
Owner & transaction history
Wre Grand Rapids Owner LLC
Wre Grand Rapids Owner LLC
since 2025
7 recorded transactions
Zoning & alternative use
PUD · Grand Rapids, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$14.5M
+76.4%
Office building
$13.6M
+66.4%
Auto repair, garage
$11.0M
+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
$6,675,000
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)
$8,190,000
Current use
RETAIL STORES
$14,450,000
Change: +76% · Conversion: Moderate
OFFICE BUILDING
$13,630,000
Change: +66% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,015,000
Change: +34% · Conversion: Easy
Blend value · Realmo final
$9.44M
Range $8.49M – $10.38M · ±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
$53 / 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 2019Property tax & assessments
Tax year 2019
Tax billed
$155,863
Tax year 2019
Assessed value
$5,729,300
Assessed 2023
Previous assessed
$5,692,300
+0.7% YoY
Effective rate
2.72%
On assessed value
Total market value
$11,458,600
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
1989
Heating
FORCED AIR
Buildings
5
Stories
1
Total area
177,815 SF
Lot
18.49 ac (805,555 SF)
Zoning code
PUD
APN
41-19-31-200-060
UPID
US43-1102077
Jurisdiction
KENT
Zoning & alternative use
PUD · Grand Rapids, MI
Zoning PUD · permitted uses
PUD · 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
$8.2M
RETAIL STORES
Est. value
$14.5M
OFFICE BUILDING
Est. value
$13.6M
AUTO REPAIR, GARAGE
Est. value
$11.0M
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
1989
Heating
FORCED AIR
Stories
1
Buildings
5
Lot
18.49 ac
Current owner
From public records · entity-resolved
Wre Grand Rapids Owner LLC
Entity
Mailing address
9450 W BRYN MAWR AVE STE #750, ROSEMONT, IL 60018-5253
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2025
—
Wre Grand Rapids Owner LLC
Ausdip 1 Mi2 Funding Company LLC
Deed
$10,300,000 · Jpmorgan Chase Bank NA
Sep 24, 2020
$12,250,000
Ausdipi Mi2 Funding Company LLC
Sip Grand Rapids LLC
Warranty Deed
$22,900,000 · Wintrust Bank NA
Oct 3, 2017
—
Sip Grand Rapids Lessee LLC
—
Deed
related
—
Sep 27, 2017
—
Sip Grand Rapids LLC
Welsh Riviera Mi LLC
Warranty Deed
—
Jul 6, 2006
—
Welsh Riviera Mi LLC
Nl Ventures IV Executive Parkway LP
Other
$110,200,000 · Jpmorgan Chase Bank NA
Sep 3, 2004
—
Ventures Pkwy Nl IV
Meadowbrooke Busn Pk Assocs
Quit Claim Deed
related
—
—
—
Sip Grand Rapids Lessee LLC
—
Deed Of Trust
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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